IAMGOLD (TSE:IMG) Issues Earnings Results

IAMGOLD (TSE:IMG) (NYSE:IAG) posted its quarterly earnings data on Thursday. The mining company reported C$0.57 earnings per share for the quarter, FiscalAI reports. The company had revenue of C$1.22 billion for the quarter. IAMGOLD had a net margin of 29.53% and a return on equity of 26.05%.

IAMGOLD Trading Up 0.6%

IMG traded up C$0.14 on Thursday, reaching C$22.48. 1,481,390 shares of the company traded hands, compared to its average volume of 1,956,346. IAMGOLD has a one year low of C$9.80 and a one year high of C$34.09. The firm has a fifty day simple moving average of C$22.16 and a two-hundred day simple moving average of C$25.04. The company has a market cap of C$12.99 billion, a P/E ratio of 13.15, a price-to-earnings-growth ratio of -0.28 and a beta of 2.15. The company has a quick ratio of 1.19, a current ratio of 1.89 and a debt-to-equity ratio of 15.02.

Insiders Place Their Bets

In related news, Director Daniel Racine purchased 5,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was purchased at an average price of C$26.28 per share, with a total value of C$131,400.00. Following the completion of the purchase, the director owned 5,000 shares of the company’s stock, valued at approximately C$131,400. The trade was a ∞ increase in their position. Also, insider Ankit Shah purchased 9,657 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average price of C$26.03 per share, with a total value of C$251,371.71. Following the acquisition, the insider directly owned 9,657 shares of the company’s stock, valued at C$251,371.71. This trade represents a ∞ increase in their position. Insiders have purchased 33,023 shares of company stock worth $782,657 in the last three months. Corporate insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on IMG. National Bank Financial upped their target price on IAMGOLD from C$36.00 to C$39.00 and gave the company an “outperform” rating in a research note on Friday, April 17th. BMO Capital Markets raised their price target on IAMGOLD from C$27.00 to C$32.00 in a research note on Wednesday, April 22nd. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of C$32.07.

About IAMGOLD

IAMGOLD is an intermediate gold producer and developer based in Canada with operating mines in North America and West Africa, including Côté Gold (Canada), Westwood (Canada) and Essakane (Burkina Faso). The Côté Gold Mine is among the largest gold mines in production in Canada, which IAMGOLD operates in a 70|30 partnership with Sumitomo Metal Mining Co Ltd. (‘SMM’). In addition, the Company has an established portfolio of early stage and advanced exploration projects within high potential mining districts, including the large-scale Nelligan Mining Complex located in Quebec, Canada.