Iamgold Corporation (IAG) to Post Q3 2017 Earnings of $0.02 Per Share, Cormark Forecasts

Iamgold Corporation (NYSE:IAG) (TSE:IMG) – Investment analysts at Cormark increased their Q3 2017 EPS estimates for shares of Iamgold Corporation in a research note issued on Monday. Cormark analyst R. Gray now expects that the mining company will post earnings of $0.02 per share for the quarter, up from their prior forecast of ($0.03).

IAG has been the topic of a number of other research reports. TheStreet upgraded Iamgold Corporation from a “c-” rating to a “b” rating in a research report on Thursday, August 17th. Royal Bank Of Canada reiterated a “hold” rating on shares of Iamgold Corporation in a research report on Wednesday, July 12th. CIBC upgraded Iamgold Corporation from a “sector perform” rating to a “sector outperform” rating and increased their price objective for the stock from $6.93 to $7.00 in a research report on Wednesday, September 6th. BMO Capital Markets upgraded Iamgold Corporation from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $6.00 to $7.50 in a research report on Tuesday, August 22nd. Finally, Canaccord Genuity downgraded Iamgold Corporation from a “buy” rating to a “hold” rating and set a $8.07 price objective on the stock. in a research report on Friday, September 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $7.04.

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Iamgold Corporation (IAG) opened at 5.66 on Wednesday. The company has a market cap of $2.63 billion, a price-to-earnings ratio of 5.16 and a beta of -0.48. The stock has a 50 day moving average price of $6.46 and a 200 day moving average price of $5.21. Iamgold Corporation has a 52 week low of $3.16 and a 52 week high of $7.25.

Iamgold Corporation (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Wednesday, August 9th. The mining company reported $0.01 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.01. Iamgold Corporation had a return on equity of 1.43% and a net margin of 46.75%. The company had revenue of $274.50 million for the quarter, compared to analyst estimates of $267.07 million. During the same quarter last year, the company posted $0.01 EPS. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Comerica Bank raised its position in Iamgold Corporation by 1.9% during the first quarter. Comerica Bank now owns 25,820 shares of the mining company’s stock valued at $104,000 after purchasing an additional 485 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Iamgold Corporation by 102.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 21,299 shares of the mining company’s stock valued at $110,000 after purchasing an additional 10,773 shares in the last quarter. Sprott Inc. purchased a new stake in Iamgold Corporation during the second quarter valued at about $114,000. Quantbot Technologies LP purchased a new stake in Iamgold Corporation during the second quarter valued at about $131,000. Finally, Acadian Asset Management LLC purchased a new stake in Iamgold Corporation during the second quarter valued at about $137,000. Institutional investors and hedge funds own 56.35% of the company’s stock.

About Iamgold Corporation

IAMGOLD Corporation (IAMGOLD) is engaged primarily in the exploration for, and the development and production of, mineral resource properties throughout the world. Through its holdings, IAMGOLD has interests in various operations, exploration and development properties. IAMGOLD is a mid-tier mining company with approximately four operating gold mines on over three continents.

Earnings History and Estimates for Iamgold Corporation (NYSE:IAG)

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