Iamgold's stock price rises, earnings predicted to increase, trading at a discount.

From Nasdaq: 2024-06-14 18:15:09

Shares of Iamgold (IAG) closed at $3.62, up 1.97% from the previous day, outperforming the S&P 500. The company’s stock has dropped 19.32% in the last month, underperforming the Basic Materials sector. Analysts expect a 700% increase in earnings per share (EPS) for the upcoming financial release.

Zacks Consensus Estimates for IAG predict a year-over-year earnings increase of 211.11% and revenue increase of 37.78%. Recent positive estimate revisions reflect analyst optimism about the company. Utilizing the Zacks Rank model, IAG currently holds a rank of #3 (Hold), with a 12.19% rise in EPS estimate over the past month.

Iamgold is trading at a Forward P/E ratio of 12.86, a discount compared to the industry average. The Mining – Gold industry, part of the Basic Materials sector, ranks in the top 12%. The Zacks Industry Rank indicates that top-rated industries outperform lower-rated industries by a 2 to 1 margin.

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Read more at Nasdaq: Iamgold (IAG) Advances While Market Declines: Some Information for Investors