In the latest close session, Iamgold (IAG) was up +2.24% at $11.41. The stock's performance was ahead of the S&P 500's daily gain of 0.47%. Meanwhile, the Dow gained 0.11%, and the Nasdaq, a tech-heavy index, added 0.94%.
Shares of the gold and niobium mining company witnessed a gain of 37.1% over the previous month, beating the performance of the Basic Materials sector with its gain of 4.93%, and the S&P 500's gain of 2.32%.
Analysts and investors alike will be keeping a close eye on the performance of Iamgold in its upcoming earnings disclosure. It is anticipated that the company will report an EPS of $0.25, marking a 38.89% rise compared to the same quarter of the previous year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $0.8 per share and revenue of $2.6 billion. These totals would mark changes of +45.45% and +59.22%, respectively, from last year.
Investors should also pay attention to any latest changes in analyst estimates for Iamgold. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.21% increase. Iamgold is currently sporting a Zacks Rank of #3 (Hold).
In the context of valuation, Iamgold is at present trading with a Forward P/E ratio of 13.98. This signifies a discount in comparison to the average Forward P/E of 14.69 for its industry.
Investors should also note that IAG has a PEG ratio of 0.36 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The average PEG ratio for the Mining - Gold industry stood at 0.72 at the close of the market yesterday.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 90, this industry ranks in the top 37% of all industries, numbering over 250.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Iamgold Corporation (IAG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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