Iamgold (IAG) Announces Quarterly Earnings Results

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Iamgold (NYSE:IAG) (TSE:IMG) released its quarterly earnings data on Tuesday. The mining company reported ($0.01) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.01), Briefing.com reports. Iamgold had a net margin of 2.54% and a return on equity of 2.56%. The company had revenue of $244.80 million during the quarter, compared to the consensus estimate of $266.17 million. During the same quarter in the prior year, the firm posted $0.07 earnings per share. Iamgold’s revenue for the quarter was down 8.9% on a year-over-year basis.

Shares of NYSE:IAG traded down $0.30 on Wednesday, reaching $3.33. The company’s stock had a trading volume of 9,282,021 shares, compared to its average volume of 4,043,499. Iamgold has a 52-week low of $3.32 and a 52-week high of $6.52. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.80 and a current ratio of 4.72. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 55.50, a PEG ratio of 10.22 and a beta of -0.19.

Several equities analysts have issued reports on IAG shares. ValuEngine downgraded shares of Iamgold from a “buy” rating to a “hold” rating in a research note on Wednesday, August 8th. TheStreet downgraded shares of Iamgold from a “b” rating to a “c-” rating in a research note on Friday, August 10th. BMO Capital Markets restated a “buy” rating and issued a $7.00 price objective on shares of Iamgold in a research note on Friday, September 21st. Zacks Investment Research downgraded shares of Iamgold from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. Finally, Royal Bank of Canada set a $6.00 price objective on shares of Iamgold and gave the company a “hold” rating in a research note on Thursday, October 11th. Six analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Iamgold has a consensus rating of “Hold” and a consensus target price of $6.88.

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About Iamgold

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 interests in the Rosebel gold mine located in north eastern Suriname, South America; the Essakane gold mine in north-eastern Burkina Faso, West Africa; the Westwood gold mine in southwestern Québec, Canada; and the Sadiola Gold Mine located in southwest Mali, West Africa.

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Earnings History for Iamgold (NYSE:IAG)

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