Iamgold (NYSE:IAG) Releases Quarterly Earnings Results, Beats Estimates By $998.48 EPS

Key Points

• Iamgold reported EPS of $999.00 for the quarter, beating the consensus of $0.52 by $998.48 and recording a net margin of 23.29% and return on equity of 19.26%.
• The stock traded at $16.29 on Tuesday with ~5.2M shares changing hands; the company has a market cap of $9.45 billion, a P/E of 14.17 and a 52‑week range of $6.06–$24.87.
• Director David Stewart Smith sold 31,000 shares for about $1.02M, cutting his stake by 60.78%, while analysts show a consensus "Moderate Buy" rating with an average target price of $17.75.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG announced its quarterly earnings data on Tuesday. The mining company reported $999.00 EPS for the quarter, beating the consensus estimate of $0.52 by $998.48, reports. Iamgold had a net margin of 23.29% and a return on equity of 19.26%.

Iamgold Stock Performance

IAG traded down $0.02 during trading on Tuesday, reaching $16.29. 5,204,123 shares of the company's stock were exchanged, compared to its average volume of 8,314,008. Iamgold has a 1 year low of $6.06 and a 1 year high of $24.87. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.75 and a quick ratio of 1.02. The stock has a market capitalization of $9.45 billion, a P/E ratio of 14.17, a price-to-earnings-growth ratio of 0.85 and a beta of 1.26. The company's fifty day simple moving average is $19.58 and its 200-day simple moving average is $17.42.

Insider Buying and Selling at Iamgold

In other Iamgold news, Director David Stewart Smith sold 31,000 shares of Iamgold 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 transaction, the director owned 20,000 shares in the company, valued at approximately $657,400. This trade represents a 60.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.17% of the company's stock.

Hedge Funds Weigh In On Iamgold

Institutional investors have recently modified their holdings of the stock. Banque Transatlantique SA purchased a new position in shares of Iamgold during the 2nd quarter valued at about $26,000. Pin Oak Investment Advisors Inc. purchased a new position in shares of Iamgold during the 4th quarter valued at about $30,000. Global Retirement Partners LLC purchased a new position in shares of Iamgold during the 4th quarter valued at about $33,000. EFG International AG purchased a new position in shares of Iamgold during the 4th quarter valued at approximately $82,000. Finally, Flow Traders U.S. LLC acquired a new position in shares of Iamgold in the 3rd quarter valued at $161,000. Hedge funds and other institutional investors own 47.08% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on IAG shares. Scotiabank raised their target price on Iamgold to $25.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 25th. Wall Street Zen upgraded Iamgold from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 21st. TD Securities restated a "buy" rating on shares of Iamgold in a research note on Thursday, February 19th. Zacks Research lowered Iamgold from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. Finally, Canadian Imperial Bank of Commerce restated an "outperform" rating on shares of Iamgold in a research note on Wednesday, February 4th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $17.75.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.