IAMGOLD Corp (NYSE:IAG) (TSE:IMG) – Analysts at Cormark reduced their FY2017 earnings estimates for IAMGOLD in a research note issued to investors on Thursday, according to Zacks Investment Research. Cormark analyst R. Gray now forecasts that the mining company will post earnings of $0.02 per share for the year, down from their previous estimate of $0.11. Cormark also issued estimates for IAMGOLD’s Q4 2017 earnings at ($0.07) EPS and FY2018 earnings at ($0.01) EPS.
Several other analysts also recently issued reports on the stock. Zacks Investment Research downgraded shares of IAMGOLD from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. CIBC set a $7.50 price objective on shares of IAMGOLD and gave the stock an “outperform” rating in a research note on Wednesday, January 17th. Canaccord Genuity raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a research note on Wednesday, January 17th. BMO Capital Markets set a $7.00 price objective on shares of IAMGOLD and gave the stock a “buy” rating in a research note on Tuesday, December 19th. Finally, Desjardins reissued a “buy” rating on shares of IAMGOLD in a research note on Monday, December 11th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. IAMGOLD presently has a consensus rating of “Hold” and an average target price of $7.07.
Shares of IAMGOLD (IAG) traded up $0.53 during midday trading on Monday, reaching $6.14. 7,618,343 shares of the company’s stock traded hands, compared to its average volume of 5,001,896. The company has a current ratio of 4.78, a quick ratio of 3.85 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $2,780.00, a P/E ratio of 5.63, a P/E/G ratio of 40.15 and a beta of -0.31. IAMGOLD has a twelve month low of $3.36 and a twelve month high of $7.25.
Institutional investors have recently bought and sold shares of the company. James Investment Research Inc. bought a new stake in shares of IAMGOLD during the fourth quarter valued at approximately $105,000. Raymond James Financial Services Advisors Inc. raised its stake in shares of IAMGOLD 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 acquiring an additional 10,773 shares in the last quarter. Sigma Planning Corp bought a new stake in shares of IAMGOLD during the third quarter valued at approximately $130,000. Quantbot Technologies LP bought a new stake in shares of IAMGOLD during the second quarter valued at approximately $131,000. Finally, Fox Run Management L.L.C. raised its stake in shares of IAMGOLD by 121.2% during the fourth quarter. Fox Run Management L.L.C. now owns 26,325 shares of the mining company’s stock valued at $153,000 after acquiring an additional 14,425 shares in the last quarter. 55.30% of the stock is owned by hedge funds and other institutional investors.
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IAMGOLD Company Profile
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.
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