IAMGOLD (NYSE:IAG) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS

IAMGOLD (NYSE:IAG) (TSE:IMG) issued its quarterly earnings data on Thursday. The mining company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.09, Zacks reports. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. The business had revenue of $338.90 million for the quarter. During the same period in the previous year, the business posted $0.05 earnings per share.

IAMGOLD Stock Up 9.4 %

IAG traded up $0.36 during trading on Friday, reaching $4.21. 14,832,970 shares of the stock were exchanged, compared to its average volume of 8,769,413. The stock has a market cap of $2.09 billion, a P/E ratio of 21.95, a price-to-earnings-growth ratio of 0.64 and a beta of 1.68. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.77 and a current ratio of 1.19. The stock’s 50 day moving average price is $3.41 and its two-hundred day moving average price is $2.80. IAMGOLD has a twelve month low of $1.99 and a twelve month high of $4.21.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on IAG. BMO Capital Markets raised their target price on shares of IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a research note on Friday, April 5th. CIBC increased their price objective on IAMGOLD from $3.00 to $3.10 and gave the company a “neutral” rating in a research report on Wednesday, February 7th. Scotiabank boosted their target price on IAMGOLD from $3.25 to $3.75 and gave the stock a “sector perform” rating in a research report on Thursday, April 18th. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. Finally, StockNews.com upgraded shares of IAMGOLD from a “sell” rating to a “hold” rating in a report on Friday, April 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $3.55.

IAMGOLD Company Profile

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.