Iamgold Corporation (NYSE:IAG) Issues Earnings Results

Iamgold Corporation (NYSE:IAG) (TSE:IMG) issued its earnings results on Wednesday. The mining company reported $0.01 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.01, Briefing.com reports. Iamgold Corporation had a negative net margin of 1.80% and a positive return on equity of 1.63%. The firm had revenue of $274.50 million for the quarter, compared to analyst estimates of $267.07 million. During the same quarter last year, the business posted $0.01 earnings per share. The company’s quarterly revenue was up 18.1% on a year-over-year basis.

Iamgold Corporation (NYSE IAG) remained flat at $5.28 during trading on Wednesday. 3,874,202 shares of the company’s stock traded hands. The company has a 50 day moving average of $5.15 and a 200-day moving average of $4.49. Iamgold Corporation has a one year low of $3.14 and a one year high of $5.87. The firm’s market capitalization is $2.45 billion.

IAG has been the topic of a number of research analyst reports. Credit Suisse Group upgraded shares of Iamgold Corporation from an “underperform” rating to a “neutral” rating and raised their target price for the company from $4.50 to $5.00 in a research report on Wednesday, May 10th. Scotiabank upgraded shares of Iamgold Corporation from an “underperform” rating to a “sector perform” rating in a research report on Wednesday, May 10th. National Bank Financial restated an “outperform market weight” rating on shares of Iamgold Corporation in a research report on Sunday, May 14th. BMO Capital Markets set a $5.00 target price on shares of Iamgold Corporation and gave the company a “hold” rating in a research report on Tuesday, May 16th. Finally, Bank of America Corporation upgraded shares of Iamgold Corporation from an “underperform” rating to a “neutral” rating in a research report on Tuesday, May 23rd. Nine investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Iamgold Corporation presently has an average rating of “Hold” and a consensus target price of $5.88.

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About Iamgold Corporation

IAMGOLD Corporation (IAMGOLD) is engaged primarily in the exploration for, and the development and production of, mineral resource properties throughout the world. Through its holdings, IAMGOLD has interests in various operations, exploration and development properties. IAMGOLD is a mid-tier mining company with approximately four operating gold mines on over three continents.

Earnings History for Iamgold Corporation (NYSE:IAG)

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