Iamgold (NYSE:IAG) Posts Earnings Results

Iamgold (NYSE:IAG) (TSE:IMG) announced its quarterly earnings results on Tuesday. The mining company reported $0.70 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion.

Iamgold Trading Up 3.3%

IAG stock traded up $0.70 during trading on Thursday, reaching $21.97. The company had a trading volume of 4,469,396 shares, compared to its average volume of 9,314,215. Iamgold has a 52 week low of $5.02 and a 52 week high of $22.50. The company has a market cap of $12.99 billion, a P/E ratio of 36.58, a PEG ratio of 0.26 and a beta of 1.36. The business has a 50 day moving average of $18.41 and a 200 day moving average of $14.07. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.68 and a quick ratio of 0.95.

Institutional Trading of Iamgold

A number of hedge funds have recently bought and sold shares of IAG. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Iamgold during the 4th quarter valued at about $30,000. Global Retirement Partners LLC bought a new position in Iamgold in the fourth quarter worth approximately $33,000. Banque Transatlantique SA bought a new stake in shares of Iamgold during the 2nd quarter valued at $26,000. EFG International AG purchased a new stake in shares of Iamgold in the 4th quarter worth $82,000. Finally, SummitTX Capital L.P. purchased a new stake in Iamgold in the fourth quarter worth about $195,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Analyst Upgrades and Downgrades

IAG has been the subject of a number of recent research reports. TD Securities reissued a “buy” rating on shares of Iamgold in a research note on Thursday. Scotiabank lifted their price objective on Iamgold to $23.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th. Zacks Research lowered Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Canadian Imperial Bank of Commerce restated 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 report on Saturday, November 8th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.25.

About Iamgold

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.