Iamgold (NYSE:IAG) Releases Earnings Results, Beats Estimates By $0.14 EPS

Iamgold (NYSE:IAG) (TSE:IMG) released its quarterly earnings results on Tuesday. The mining company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14, Zacks reports. Iamgold had a return on equity of 27.84% and a net margin of 29.49%.The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $955.17 million.

Iamgold Stock Down 0.2%

Shares of IAG traded down $0.05 during midday trading on Thursday, reaching $18.46. 5,214,250 shares of the stock were exchanged, compared to its average volume of 8,306,467. Iamgold has a 12-month low of $6.06 and a 12-month high of $24.87. The firm has a 50 day simple moving average of $19.38 and a 200-day simple moving average of $17.47. The company has a quick ratio of 1.02, a current ratio of 1.75 and a debt-to-equity ratio of 0.15. The company has a market cap of $10.71 billion, a price-to-earnings ratio of 10.75, a P/E/G ratio of 0.84 and a beta of 1.26.

Analysts Set New Price Targets

A number of research firms recently weighed in on IAG. TD Securities reiterated a “buy” rating on shares of Iamgold in a research report on Thursday, February 19th. Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a research report on Tuesday, April 21st. Scotiabank raised their price objective on Iamgold to $25.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 25th. Zacks Research lowered Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Iamgold in a research report on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Iamgold currently has an average rating of “Moderate Buy” and an average price target of $17.75.

Insider Buying and Selling at Iamgold

In other news, Director David Stewart Smith sold 31,000 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $32.87, for a total transaction of $1,018,970.00. Following the completion of the sale, the director directly owned 20,000 shares of the company’s stock, valued at $657,400. This trade represents a 60.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is owned by company insiders.

Institutional Investors Weigh In On Iamgold

A number of hedge funds and other institutional investors have recently made changes to their positions in IAG. Banque Transatlantique SA bought a new position in shares of Iamgold in the 2nd quarter valued at approximately $26,000. Pin Oak Investment Advisors Inc. acquired a new stake in Iamgold in the 4th quarter worth approximately $30,000. Global Retirement Partners LLC acquired a new stake in Iamgold in the 4th quarter worth approximately $33,000. EFG International AG acquired a new stake in Iamgold in the 4th quarter worth approximately $82,000. Finally, Flow Traders U.S. LLC acquired a new stake in Iamgold in the 3rd quarter worth approximately $161,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

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.