Cormark Research Analysts Decrease Earnings Estimates for IAMGOLD Corp (IMG)

Marco Green
September 12, 2017

Equities researchers at Cormark cut their Q3 2017 earnings per share (EPS) estimates for Iamgold Corporation in a research note issued to investors on Thursday. Cormark analyst R. Gray now forecasts that the mining company will post earnings of ($0.04) per share for the quarter, down from their prior estimate of ($0.03).

Previously Iamgold Corp (NYSE:IAG) reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01 by $0.

IAMGOLD Corp (TSE:IMG) (NYSE:IAG) had its price target lowered by TD Securities from C$11.00 to C$9.00 in a research report report published on Thursday. The analysts estimated sales for the higher end at 278 million and lower end at 248.19 million while the year ago reported sale was 276.32 million. Iamgold Corporation's revenue was up 18.1% on a year-over-year basis. During the same quarter past year, the firm earned $0.01 earnings per share. If you are accessing this article on another publication, it was illegally copied and republished in violation of worldwide copyright and trademark law. The correct version of this piece of content can be read at https://stocknewstimes.com/2017/09/11/cormark-research-analysts-decrease-earnings-estimates-for-iamgold-corp-img.html. National Bank Financial reiterated an outperform market weight rating on shares of IAMGOLD Corp in a research report on Sunday, May 14th.

Additionally on 8/23/17 BMO Capital "Upgrades" Iamgold Corp (NYSE:IAG) to Outperform setting price target at $0 and on 6/15/17 Raymond James "Reinstates" the stock to Market Perform at $6. Zacks Investment Research raised shares of Iamgold Corporation from a "hold" rating to a "strong-buy" rating and set a $5.75 price objective on the stock in a report on Wednesday, June 21st. BidaskClub upgraded shares of Iamgold Corporation from a "hold" rating to a "buy" rating in a research note on Saturday, August 19th. Analysts pegging the company with a rating of 3 would be indicating a Hold recommendation. They now have a Dollars 6 price target on the stock. Tocqueville Asset Management L.P. boosted its holdings in shares of Iamgold Corporation by 183.9% in the 2nd quarter. The stock's market capitalization is 3.27B. The company has a 50-day moving average of $5.79 and a 200-day moving average of $4.75.

Iamgold Corp (NYSE:IAG) 52-week high price stands at $7.22 and low price stands at $3.14, its price distance from 52-week high is -2.63% while its distance from 52-week low price is 123.89%. Credit Suisse AG now owns 1,057,042 shares of the mining company's stock worth $4,282,000 after buying an additional 100,634 shares during the period.

01/10/2017 - Iamgold Corporation was downgraded to "underperform" by analysts at Scotiabank. Institutional investors own 55.16% of the company's stock. JPMorgan Chase & Co. boosted its holdings in shares of Iamgold Corporation by 560.2% in the 2nd quarter. Vanguard Group Inc. now owns 9,492,363 shares of the mining company's stock valued at $48,980,000 after purchasing an additional 838,766 shares during the last quarter. Iamgold Corporation earned a news sentiment score of 0.14 on Accern's scale. Tocqueville Asset Management L.P. now owns 6,850,300 shares of the mining company's stock valued at $35,348,000 after purchasing an additional 4,437,200 shares during the last quarter. Inc. increased its position in shares of Iamgold Corp.by 117.3% in the third quarter.

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