Iamgold (NYSE:IAG) Announces Earnings Results

Iamgold (NYSE:IAG) (TSE:IMG) announced its earnings results on Tuesday. The mining company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.55 by $0.15, reports. Iamgold had a net margin of 15.39% and a return on equity of 10.39%. The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion.

Iamgold Stock Performance

Iamgold stock traded up $0.66 during midday trading on Thursday, hitting $21.93. The company’s stock had a trading volume of 4,215,372 shares, compared to its average volume of 9,309,481. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.68 and a quick ratio of 0.95. The company has a market cap of $12.96 billion, a price-to-earnings ratio of 36.58, a PEG ratio of 0.26 and a beta of 1.36. Iamgold has a 1-year low of $5.02 and a 1-year high of $22.50. The company has a 50-day moving average price of $18.41 and a two-hundred day moving average price of $14.07.

Institutional Trading of Iamgold

A number of institutional investors have recently modified their holdings of the stock. Voloridge Investment Management LLC increased its position in shares of Iamgold by 261.8% in the fourth quarter. Voloridge Investment Management LLC now owns 3,502,469 shares of the mining company’s stock worth $57,756,000 after purchasing an additional 2,534,395 shares during the period. SummitTX Capital L.P. acquired a new position in shares of Iamgold in the 4th quarter valued at approximately $195,000. Oxford Asset Management LLP bought a new stake in shares of Iamgold during the 4th quarter worth approximately $855,000. Orion Resource Partners LP boosted its position in shares of Iamgold by 5.4% during the 4th quarter. Orion Resource Partners LP now owns 124,438 shares of the mining company’s stock worth $2,054,000 after acquiring an additional 6,375 shares in the last quarter. Finally, Millennium Management LLC increased its stake in Iamgold by 4.4% in the fourth quarter. Millennium Management LLC now owns 3,300,768 shares of the mining company’s stock valued at $54,432,000 after acquiring an additional 137,691 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on IAG. Zacks Research lowered Iamgold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. TD Securities reissued a “buy” rating on shares of Iamgold in a research note on Thursday. Weiss Ratings reiterated a “buy (b)” rating on shares of Iamgold in a research note on Thursday, January 22nd. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Iamgold in a report on Wednesday, February 4th. Finally, Wall Street Zen upgraded Iamgold from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $17.25.

Iamgold Company Profile

IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.

The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.