Zacks: Brokerages Expect Iamgold Corporation (NYSE:IAG) Will Announce Earnings of $0.01 Per Share

Equities research analysts expect Iamgold Corporation (NYSE:IAG) (TSE:IMG) to report earnings per share of $0.01 for the current quarter, Zacks reports. Zero analysts have made estimates for Iamgold Corporation’s earnings. The highest EPS estimate is $0.02 and the lowest is $0.00. Iamgold Corporation also reported earnings of $0.01 per share in the same quarter last year. The business is scheduled to report its next quarterly earnings results after the market closes on Wednesday, August 9th.

According to Zacks, analysts expect that Iamgold Corporation will report full-year earnings of $0.02 per share for the current fiscal year, with EPS estimates ranging from $0.00 to $0.08. For the next year, analysts anticipate that the firm will post earnings of $0.11 per share, with EPS estimates ranging from ($0.01) to $0.27. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Iamgold Corporation.

Iamgold Corporation (NYSE:IAG) (TSE:IMG) last posted its earnings results on Tuesday, May 9th. The mining company reported $0.01 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. Iamgold Corporation had a positive return on equity of 1.63% and a negative net margin of 1.80%. The business had revenue of $260.50 million for the quarter, compared to analysts’ expectations of $264.54 million. During the same quarter in the previous year, the firm earned ($0.02) earnings per share. The business’s revenue was up 18.6% compared to the same quarter last year.

Several equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded 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 note on Tuesday, August 1st. Scotiabank increased their price objective on shares of Iamgold Corporation from $5.75 to $6.25 and gave the stock a “sector perform” rating in a research note 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 note on Tuesday, July 18th. Royal Bank Of Canada dropped their price objective on shares of Iamgold Corporation from $6.50 to $6.00 and set a “sector perform” rating on the stock in a research note on Friday, July 28th. Finally, BMO Capital Markets set a $5.00 price objective on shares of Iamgold Corporation and gave the stock a “hold” rating in a research note on Tuesday, June 6th. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Iamgold Corporation has an average rating of “Hold” and a consensus target price of $5.88.

Iamgold Corporation (NYSE IAG) traded up 1.15% during mid-day trading on Thursday, hitting $5.28. The stock had a trading volume of 3,676,024 shares. The company has a 50 day moving average price of $5.15 and a 200 day moving average price of $4.49. The stock’s market cap is $2.45 billion. Iamgold Corporation has a one year low of $3.14 and a one year high of $5.87.

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Large investors have recently made changes to their positions in the stock. Bennicas & Associates Inc. raised its stake in shares of Iamgold Corporation by 5.1% in the first quarter. Bennicas & Associates Inc. now owns 92,200 shares of the mining company’s stock valued at $369,000 after buying an additional 4,500 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Iamgold Corporation by 280.7% in the fourth quarter. AQR Capital Management LLC now owns 45,137 shares of the mining company’s stock valued at $175,000 after buying an additional 33,282 shares during the last quarter. Comerica Bank raised its stake in shares of Iamgold Corporation by 29.2% in the fourth quarter. Comerica Bank now owns 25,335 shares of the mining company’s stock valued at $112,000 after buying an additional 5,733 shares during the last quarter. Creative Planning raised its stake in shares of Iamgold Corporation by 11.5% in the first quarter. Creative Planning now owns 98,440 shares of the mining company’s stock valued at $394,000 after buying an additional 10,168 shares during the last quarter. Finally, ARP Americas LLC raised its stake in shares of Iamgold Corporation by 122.2% in the first quarter. ARP Americas LLC now owns 46,000 shares of the mining company’s stock valued at $184,000 after buying an additional 25,300 shares during the last quarter. Institutional investors own 57.95% of the company’s stock.

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.

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Earnings History and Estimates for Iamgold Corporation (NYSE:IAG)

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