Iamgold Corporation (NYSE:IAG) (TSE:IMG) – Equities researchers at National Bank Financial lifted their FY2017 earnings per share (EPS) estimates for shares of Iamgold Corporation in a report released on Wednesday. National Bank Financial analyst D. Demarco now anticipates that the mining company will post earnings per share of $0.02 for the year, up from their previous estimate of $0.01. National Bank Financial has a “Outperform Market Weight” rating on the stock. National Bank Financial also issued estimates for Iamgold Corporation’s FY2018 earnings at $0.01 EPS and FY2019 earnings at $0.02 EPS.
Other research analysts also recently issued reports about the company. Zacks Investment Research raised Iamgold Corporation from a “hold” rating to a “strong-buy” rating and set a $5.75 price target on the stock in a report on Wednesday, June 21st. Credit Suisse Group set a $6.00 price target on Iamgold Corporation and gave the company a “hold” rating in a report on Wednesday, June 14th. BMO Capital Markets set a $5.00 price target on Iamgold Corporation and gave the company a “hold” rating in a report on Tuesday, June 6th. Scotiabank upped their price target on Iamgold Corporation from $5.75 to $6.25 and gave the company a “sector perform” rating in a report on Tuesday, August 1st. Finally, ValuEngine raised Iamgold Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 23rd. Nine analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Iamgold Corporation has a consensus rating of “Hold” and an average target price of $5.88.
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Shares of Iamgold Corporation (NYSE IAG) opened at 5.39 on Monday. Iamgold Corporation has a 1-year low of $3.14 and a 1-year high of $5.71. The stock’s 50 day moving average price is $5.20 and its 200-day moving average price is $4.55. The company’s market capitalization is $2.50 billion.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last released 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. The company had revenue of $274.50 million for the quarter, compared to analysts’ expectations of $267.07 million. Iamgold Corporation had a return on equity of 1.43% and a net margin of 46.75%. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.01 EPS.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlueCrest Capital Management Ltd purchased a new position in Iamgold Corporation during the second quarter worth $4,103,000. Royal Bank of Canada increased its position in Iamgold Corporation by 496.5% in the second quarter. Royal Bank of Canada now owns 4,484,298 shares of the mining company’s stock worth $23,138,000 after buying an additional 3,732,543 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new position in Iamgold Corporation during the second quarter worth $5,434,000. Renaissance Technologies LLC increased its position in Iamgold Corporation by 4.9% in the second quarter. Renaissance Technologies LLC now owns 18,851,800 shares of the mining company’s stock worth $97,275,000 after buying an additional 873,700 shares in the last quarter. Finally, Advisor Group Inc. increased its position in Iamgold Corporation by 2.3% in the second quarter. Advisor Group Inc. now owns 33,950 shares of the mining company’s stock worth $175,000 after buying an additional 750 shares in the last quarter. 57.32% of the stock is currently owned by institutional investors.
Iamgold Corporation Company Profile
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.
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