IAMGOLD (NYSE:IAG) (TSE:IMG) announced its quarterly earnings results on Sunday. The mining company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.03), MarketWatch Earnings reports. IAMGOLD had a positive return on equity of 2.79% and a negative net margin of 31.53%. The firm had revenue of $297.40 million for the quarter, compared to the consensus estimate of $319.79 million. During the same period in the prior year, the business earned ($0.01) earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year.
IAG stock traded down $0.29 during midday trading on Tuesday, hitting $3.02. The company’s stock had a trading volume of 7,277,073 shares, compared to its average volume of 5,319,216. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.43 and a quick ratio of 3.34. IAMGOLD has a twelve month low of $2.86 and a twelve month high of $5.35. The company’s fifty day moving average price is $3.22 and its 200 day moving average price is $3.42. The stock has a market capitalization of $1.44 billion, a P/E ratio of -3.85, a PEG ratio of 2.02 and a beta of 0.81.
Several research firms have weighed in on IAG. Zacks Investment Research lowered IAMGOLD from a “hold” rating to a “strong sell” rating in a report on Tuesday, April 20th. National Bank Financial reiterated an “outperform” rating on shares of IAMGOLD in a research report on Monday, January 11th. Credit Suisse Group dropped their target price on shares of IAMGOLD from $4.25 to $4.00 and set a “neutral” rating on the stock in a report on Wednesday, January 20th. CSFB reduced their price target on shares of IAMGOLD from $4.25 to $4.00 and set a “neutral” rating for the company in a report on Wednesday, January 20th. Finally, Royal Bank of Canada upgraded shares of IAMGOLD to an “outperform” rating and raised their price objective for the stock from $61.00 to $74.00 in a report on Thursday, January 14th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company. IAMGOLD currently has a consensus rating of “Hold” and an average price target of $12.01.
IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine situated in Burkina Faso, West Africa; the Westwood mine located in Quebec, Canada.
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