IAMGOLD (IAG) Stock Price Down 0% on Disappointing Earnings
IAMGOLD Corp (NYSE:IAG) (TSE:IMG) dropped 0% on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $5.27 and last traded at $5.34. Approximately 9,710,000 shares changed hands during mid-day trading, an increase of 86% from the average daily volume of 5,230,000 shares. The stock had previously closed at $5.34.
The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.05). The business had revenue of $291.10 million during the quarter, compared to analysts’ expectations of $280.04 million. IAMGOLD had a return on equity of 1.81% and a net margin of 48.66%. The company’s quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.01) EPS.
A number of brokerages have recently weighed in on IAG. Scotiabank restated a “hold” rating on shares of IAMGOLD in a research report on Tuesday, November 14th. Canaccord Genuity upgraded IAMGOLD from a “hold” rating to a “buy” rating in a research report on Wednesday, January 17th. Zacks Investment Research lowered IAMGOLD from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 23rd. BMO Capital Markets lowered IAMGOLD to a “hold” rating in a research report on Friday, February 16th. Finally, Desjardins restated a “buy” rating on shares of IAMGOLD in a research report on Monday, December 11th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. IAMGOLD presently has a consensus rating of “Hold” and an average price target of $7.07.
The stock has a market cap of $2,540.00, a PE ratio of 5.07, a P/E/G ratio of 23.25 and a beta of -0.31. The company has a quick ratio of 3.85, a current ratio of 4.78 and a debt-to-equity ratio of 0.14.
IAMGOLD Company Profile
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.
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