Zacks: Brokerages Anticipate IAMGOLD Corp (IAG) to Announce $0.02 EPS

Wall Street brokerages predict that IAMGOLD Corp (NYSE:IAG) (TSE:IMG) will report $0.02 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Zero analysts have provided estimates for IAMGOLD’s earnings, with the lowest EPS estimate coming in at ($0.01) and the highest estimate coming in at $0.04. IAMGOLD reported earnings per share of $0.01 in the same quarter last year, which would suggest a positive year over year growth rate of 100%. The business is scheduled to report its next quarterly earnings results after the market closes on Tuesday, May 8th.

On average, analysts expect that IAMGOLD will report full year earnings of $0.11 per share for the current year, with EPS estimates ranging from ($0.01) to $0.17. For the next year, analysts forecast that the firm will post earnings of $0.16 per share, with EPS estimates ranging from $0.03 to $0.23. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for IAMGOLD.

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IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its earnings results on Wednesday, February 21st. The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.05). IAMGOLD had a net margin of 45.81% and a return on equity of 1.08%. The company had revenue of $291.10 million for the quarter, compared to the consensus estimate of $280.04 million. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year.

Several research analysts have commented on the stock. Canaccord Genuity raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a research note on Wednesday, January 17th. Zacks Investment Research downgraded shares of IAMGOLD from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 23rd. ValuEngine raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. BMO Capital Markets downgraded shares of IAMGOLD to a “hold” rating in a research note on Friday, February 16th. Finally, Bank of America raised shares of IAMGOLD from a “neutral” rating to a “buy” rating and set a $8.00 price target on the stock in a research note on Friday. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. IAMGOLD has an average rating of “Buy” and a consensus price target of $7.17.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Two Sigma Securities LLC increased its stake in shares of IAMGOLD by 41.5% in the fourth quarter. Two Sigma Securities LLC now owns 50,760 shares of the mining company’s stock worth $296,000 after buying an additional 14,895 shares during the period. Two Sigma Advisers LP increased its stake in shares of IAMGOLD by 13.9% in the fourth quarter. Two Sigma Advisers LP now owns 1,873,597 shares of the mining company’s stock worth $10,938,000 after buying an additional 228,586 shares during the period. QS Investors LLC increased its stake in shares of IAMGOLD by 1,465.8% in the fourth quarter. QS Investors LLC now owns 661,335 shares of the mining company’s stock worth $3,856,000 after buying an additional 619,100 shares during the period. BlueCrest Capital Management Ltd increased its stake in shares of IAMGOLD by 21.1% in the fourth quarter. BlueCrest Capital Management Ltd now owns 550,000 shares of the mining company’s stock worth $3,207,000 after buying an additional 95,947 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of IAMGOLD by 13.9% in the fourth quarter. Renaissance Technologies LLC now owns 27,774,896 shares of the mining company’s stock worth $161,930,000 after buying an additional 3,382,000 shares during the period. 57.39% of the stock is currently owned by institutional investors.

Shares of IAG stock traded down $0.03 during trading hours on Tuesday, hitting $5.56. 2,972,530 shares of the company’s stock were exchanged, compared to its average volume of 4,770,973. The company has a market capitalization of $2,602.70, a PE ratio of 92.67, a price-to-earnings-growth ratio of 16.91 and a beta of -0.18. IAMGOLD has a 12-month low of $3.55 and a 12-month high of $7.25. The company has a debt-to-equity ratio of 0.14, a quick ratio of 4.16 and a current ratio of 5.02.

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IAMGOLD Company Profile

IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. It also explores for copper and silver. The company owns interest in the Rosebel gold mine located in north eastern Suriname, South America; Essakane gold mine in north-eastern Burkina Faso, West Africa; Westwood gold mine in southwestern Québec, Canada; the Sadiola Gold Mine located in southwest Mali, West Africa; and Yatela gold mines situated in southwest Mali, West Africa.

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Earnings History and Estimates for IAMGOLD (NYSE:IAG)

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