Iamgold (NYSE:IAG) Releases Earnings Results, Beats Expectations By $0.06 EPS

Iamgold (NYSE:IAG) (TSE:IMG) released its earnings results on Thursday. The mining company reported $0.42 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.06, Zacks reports. Iamgold had a net margin of 31.40% and a return on equity of 28.97%.

Iamgold Stock Down 0.5%

Iamgold stock traded down $0.09 during trading hours on Thursday, hitting $17.39. The stock had a trading volume of 8,962,655 shares, compared to its average volume of 6,558,954. The stock’s 50-day moving average price is $18.77 and its 200-day moving average price is $18.34. The stock has a market capitalization of $9.85 billion, a P/E ratio of 8.78, a price-to-earnings-growth ratio of 1.18 and a beta of 1.39. Iamgold has a 12-month low of $11.98 and a 12-month high of $24.87. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 0.10.

Analysts Set New Price Targets

Several equities research analysts recently commented on IAG shares. Jefferies Financial Group started coverage on shares of Iamgold in a research note on Thursday, August 20th. They set a “buy” rating and a $24.00 price objective on the stock. Weiss Ratings lowered Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, October 26th. Scotiabank raised their price objective on Iamgold from $22.00 to $23.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 12th. Zacks Research cut Iamgold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 20th. Finally, Wall Street Zen downgraded Iamgold from a “buy” rating to a “hold” rating in a report on Saturday, September 19th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Iamgold currently has an average rating of “Moderate Buy” and a consensus target price of $22.71.

About Iamgold

IAMGOLD Corporation is a Canadian mining company focused on the exploration, development and production of gold. Headquartered in Toronto, the company operates primarily in Canada and maintains a portfolio of gold assets at various stages of development.

IAMGOLD’s principal operating asset is the Côté Gold mine in northern Ontario, which it operates in partnership with Sumitomo Metal Mining. The company also owns the Westwood complex in Quebec, which includes underground mining and development activities.