IAMGOLD (TSE:IMG) Issues Quarterly Earnings Results

IAMGOLD (TSE:IMG) (NYSE:IAG) issued its quarterly earnings data on Thursday. The mining company reported C$0.60 earnings per share for the quarter, FiscalAI reports. The company had revenue of C$1.22 billion during the quarter. IAMGOLD had a return on equity of 28.08% and a net margin of 31.46%.

IAMGOLD Price Performance

IMG traded up C$1.98 during midday trading on Friday, reaching C$26.44. 3,516,318 shares of the company’s stock were exchanged, compared to its average volume of 1,909,111. The company has a debt-to-equity ratio of 12.27, a current ratio of 1.71 and a quick ratio of 1.19. The stock has a market capitalization of C$15.10 billion, a PE ratio of 13.35, a P/E/G ratio of -0.28 and a beta of 2.54. The business’s 50-day moving average price is C$26.19 and its 200 day moving average price is C$25.45. IAMGOLD has a 1-year low of C$16.91 and a 1-year high of C$34.09.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on IMG shares. Jefferies Financial Group upgraded shares of IAMGOLD to a “strong-buy” rating in a research note on Thursday, August 20th. TD set a C$34.00 price objective on shares of IAMGOLD and gave the stock a “buy” rating in a research report on Tuesday, October 20th. Finally, National Bank Financial lifted their price target on IAMGOLD from C$32.00 to C$35.00 and gave the company an “outperform” rating in a research note on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of C$35.83.

IAMGOLD Company Profile

IAMGOLD is an intermediate gold producer and developer based in Canada with operating mines in North America and West Africa, including Côté Gold (Canada), Westwood (Canada) and Essakane (Burkina Faso). The Côté Gold Mine is among the largest gold mines in production in Canada, which IAMGOLD operates in a 70|30 partnership with Sumitomo Metal Mining Co Ltd. (‘SMM’). In addition, the Company has an established portfolio of early stage and advanced exploration projects within high potential mining districts, including the large-scale Nelligan Mining Complex located in Quebec, Canada.