Iamgold (NYSE:IAG – Get Free Report) (TSE:IMG) posted its earnings results on Thursday. The mining company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42, Zacks reports. Iamgold had a return on equity of 29.61% and a net margin of 31.40%.The business had revenue of $845.97 million during the quarter, compared to analyst estimates of $882.92 million.
Iamgold Trading Up 14.2%
Iamgold stock traded up $2.28 during trading hours on Friday, reaching $18.31. The stock had a trading volume of 12,370,411 shares, compared to its average volume of 5,235,510. The stock has a market cap of $10.52 billion, a PE ratio of 9.25, a PEG ratio of 0.71 and a beta of 1.32. Iamgold has a 52 week low of $7.11 and a 52 week high of $24.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.89 and a quick ratio of 1.21. The company has a fifty day simple moving average of $15.74 and a 200-day simple moving average of $18.09.
Analyst Ratings Changes
A number of equities analysts have recently commented on IAG shares. Weiss Ratings lowered shares of Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Bank of America cut their price target on shares of Iamgold from $22.50 to $21.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Royal Bank Of Canada reduced their price objective on Iamgold from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Scotiabank decreased their target price on shares of Iamgold from $25.00 to $22.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. Finally, Wall Street Zen cut Iamgold from a “buy” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.00.
Institutional Inflows and Outflows
Hedge funds have recently bought and sold shares of the business. Banque Transatlantique SA bought a new stake in shares of Iamgold in the 2nd quarter worth approximately $26,000. Pin Oak Investment Advisors Inc. bought a new position in shares of Iamgold during the fourth quarter valued at approximately $30,000. Global Retirement Partners LLC purchased a new stake in Iamgold in the fourth quarter worth $33,000. EFG International AG bought a new stake in Iamgold in the fourth quarter valued at $82,000. Finally, Flow Traders U.S. LLC purchased a new position in Iamgold during the 3rd quarter valued at $161,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.
About Iamgold
IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.
The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.
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