Iamgold (IAG) closed the most recent trading day at $17.57, moving -1.35% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.26% for the day. Elsewhere, the Dow saw an upswing of 0.6%, while the tech-heavy Nasdaq appreciated by 0.25%.
Shares of the gold and niobium mining company have appreciated by 10.83% over the course of the past month, outperforming the Basic Materials sector's gain of 8.62%, and the S&P 500's gain of 1.57%.
The upcoming earnings release of Iamgold will be of great interest to investors. It is anticipated that the company will report an EPS of $0.41, marking a 310% rise compared to the same quarter of the previous year.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $0.88 per share and revenue of $0 million, indicating changes of +60% and 0%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Iamgold. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 1.52% decrease. Currently, Iamgold is carrying a Zacks Rank of #3 (Hold).
With respect to valuation, Iamgold is currently being traded at a Forward P/E ratio of 10.99. Its industry sports an average Forward P/E of 13.11, so one might conclude that Iamgold is trading at a discount comparatively.
Meanwhile, IAG's PEG ratio is currently 0.27. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Mining - Gold industry currently had an average PEG ratio of 0.44 as of yesterday's close.
The Mining - Gold industry is part of the Basic Materials sector. With its current Zacks Industry Rank of 65, this industry ranks in the top 27% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much 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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