Iamgold (IAG – Free Report) closed at $5.67 in the latest trading session, marking a +0.35% move from the prior day. The stock’s change was more than the S&P 500’s daily loss of 1.54%. Elsewhere, the Dow lost 1.63%, while the tech-heavy Nasdaq lost 1.63%.
The gold and niobium mining company’s shares have seen an increase of 1.62% over the last month, surpassing the Basic Materials sector’s loss of 10.98% and the S&P 500’s loss of 2.2%.
Investors will be eagerly watching for the performance of Iamgold in its upcoming earnings disclosure. In that report, analysts expect Iamgold to post earnings of $0.17 per share. This would mark year-over-year growth of 183.33%.
Investors should also take note of any recent adjustments to analyst estimates for Iamgold. Such recent modifications usually signify the changing landscape of near-term business trends. Therefore, positive revisions in estimates convey analysts’ confidence in the company’s business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.64% higher within the past month. Iamgold is holding a Zacks Rank of #3 (Hold) right now.
Investors should also note Iamgold’s current valuation metrics, including its Forward P/E ratio of 7.23. This indicates a discount in contrast to its industry’s Forward P/E of 10.44.
The Mining – Gold industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 136, placing it within the bottom 46% of over 250 industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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