Iamgold Corporation Forecasted to Earn Q3 2017 Earnings of $0.02 Per Share (IAG)

Iamgold Corporation (NYSE:IAG) (TSE:IMG) – Equities research analysts at Cormark boosted their Q3 2017 EPS estimates for shares of Iamgold Corporation in a research note issued to investors on Monday. Cormark analyst R. Gray now forecasts that the mining company will earn $0.02 per share for the quarter, up from their prior estimate of ($0.03).

IAG has been the topic of a number of other research reports. Scotiabank boosted their price objective on shares of Iamgold Corporation from $6.25 to $7.00 and gave the stock a “sector perform” rating in a research report on Friday, September 15th. Royal Bank Of Canada set a $8.00 price objective on shares of Iamgold Corporation and gave the stock a “hold” rating in a research report on Wednesday. Zacks Investment Research raised shares of Iamgold Corporation from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research report on Tuesday, August 1st. Credit Suisse Group set a $6.00 price objective on shares of Iamgold Corporation and gave the stock a “hold” rating in a research report on Tuesday, July 18th. Finally, Raymond James Financial, Inc. boosted their price objective on shares of Iamgold Corporation from $6.00 to $7.25 and gave the stock a “market perform” rating in a research report on Thursday, September 7th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $7.17.

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Shares of Iamgold Corporation (NYSE:IAG) opened at 5.77 on Wednesday. Iamgold Corporation has a 52-week low of $3.16 and a 52-week high of $7.25. The stock’s 50 day moving average price is $6.39 and its 200-day moving average price is $5.25. The firm has a market cap of $2.68 billion, a PE ratio of 5.26 and a beta of -0.48.

Iamgold Corporation (NYSE:IAG) (TSE:IMG) last posted its earnings results on Wednesday, August 9th. The mining company reported $0.01 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.01. Iamgold Corporation had a return on equity of 1.43% and a net margin of 46.75%. The business had revenue of $274.50 million for the quarter, compared to analysts’ expectations of $267.07 million. During the same quarter in the previous year, the firm earned $0.01 earnings per share. The business’s revenue was up 18.1% compared to the same quarter last year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. 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 worth $110,000 after acquiring an additional 10,773 shares in the last quarter. Sprott Inc. bought a new stake in Iamgold Corporation during the second quarter worth $114,000. Quantbot Technologies LP bought a new stake in Iamgold Corporation during the second quarter worth $131,000. 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 worth $104,000 after acquiring an additional 485 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in Iamgold Corporation during the second quarter worth $137,000. 56.35% of the stock is currently owned by hedge funds and other institutional investors.

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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