Cormark Comments on IAMGOLD Corp’s Q1 2019 Earnings (IAG)

IAMGOLD Corp (NYSE:IAG) (TSE:IMG) – Equities researchers at Cormark issued their Q1 2019 EPS estimates for shares of IAMGOLD in a research note issued on Thursday. Cormark analyst R. Gray forecasts that the mining company will post earnings per share of $0.01 for the quarter. Cormark also issued estimates for IAMGOLD’s Q2 2019 earnings at $0.01 EPS and Q3 2019 earnings at $0.01 EPS.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its earnings results on Wednesday, February 21st. The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.05). The company had revenue of $291.10 million during the quarter, compared to analyst estimates of $280.04 million. IAMGOLD had a net margin of 48.66% and a return on equity of 1.81%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.01) EPS.

A number of other brokerages have also issued reports on IAG. Royal Bank of Canada set a $7.00 target price on shares of IAMGOLD and gave the company a “hold” rating in a research note on Friday, November 10th. TheStreet lowered shares of IAMGOLD from a “b” rating to a “c+” rating in a research note on Thursday, November 16th. BMO Capital Markets lowered shares of IAMGOLD to a “hold” rating in a research note on Friday, February 16th. CIBC set a $7.50 target price on shares of IAMGOLD and gave the company an “outperform” rating in a research note on Wednesday, January 17th. Finally, Zacks Investment Research upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating and set a $6.75 target price on the stock in a research note on Wednesday, January 10th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $7.07.

Shares of IAMGOLD (NYSE:IAG) traded up $0.09 during trading on Friday, hitting $5.43. 1,541,786 shares of the stock were exchanged, compared to its average volume of 5,205,779. The firm has a market cap of $2,730.04, a price-to-earnings ratio of 4.89, a PEG ratio of 23.25 and a beta of -0.31. The company has a current ratio of 4.78, a quick ratio of 3.85 and a debt-to-equity ratio of 0.14. IAMGOLD has a 1-year low of $3.36 and a 1-year high of $7.25.

Several large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its position in shares of IAMGOLD by 39.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 36,071 shares of the mining company’s stock valued at $265,000 after buying an additional 10,179 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of IAMGOLD by 102.3% during the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 21,299 shares of the mining company’s stock valued at $110,000 after buying an additional 10,773 shares during the last quarter. Fox Run Management L.L.C. grew its position in shares of IAMGOLD by 121.2% during the 4th quarter. Fox Run Management L.L.C. now owns 26,325 shares of the mining company’s stock valued at $153,000 after buying an additional 14,425 shares during the last quarter. Two Sigma Securities LLC grew its position in shares of IAMGOLD by 41.5% during the 4th quarter. Two Sigma Securities LLC now owns 50,760 shares of the mining company’s stock valued at $296,000 after buying an additional 14,895 shares during the last quarter. Finally, U S Global Investors Inc. grew its position in shares of IAMGOLD by 113.9% during the 3rd quarter. U S Global Investors Inc. now owns 28,955 shares of the mining company’s stock valued at $177,000 after buying an additional 15,419 shares during the last quarter. 58.09% of the stock is owned by institutional investors and hedge funds.

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About IAMGOLD

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 (NYSE:IAG)

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