Revenue Update on IAMGOLD Corp (USA)(NYSE:IAG)

IAMGOLD Corp (USA)(NYSE:IAG) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $232.50M. Analysts estimated a revenue of $231.98M. Earnings per share were $0.01. Analysts had estimated an EPS of $-0.03.

In a different note, On Jul 18, 2016, Paradigm Capital said it Upgrades its rating on IAMGOLD Corp (USA). The shares have been rated ‘Buy’ by the firm. On Jun 30, 2016, Credit Suisse said it Upgrades its rating on IAMGOLD Corp (USA). The shares have been rated ‘Neutral’ by the firm. On Jun 27, 2016, CIBC said it Upgrades its rating on IAMGOLD Corp (USA). The shares have been rated ‘Sector Performer’ by the firm. On May 18, 2016, Scotia Howard Weil said it Downgrades its rating on IAMGOLD Corp (USA). The shares have been rated ‘Underperform’ by the firm.

IAMGOLD Corp (USA) (IAG) shares turned negative on Fridays trading session with the shares closing down -0.08 points or -1.57% at a volume of 1,76,61,102. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $5.23. The peak price level was also seen at $5.23 while the days lowest was $4.98. Finally the shares closed at $5. The 52-week high of the shares is $5.87 while the 52-week low is $1.15. According to the latest information available, the market cap of the company is $2,030 M.

IAMGOLD Corporation (IAMGOLD) is a mid-tier mining company with four operating gold mines on three continents. The Company mines include Rosebel Gold Mine Essakane Gold Mine Sadiola Gold Mine and Yatela Gold Mine. IAMGOLD operates in West Africa the Guiana Shield of South America and Quebec and has a pipeline of development and exploration projects. The Company holds 95% ownership in the Rosebel Gold Mine which is located in the Suriname South America. The Company’s 90% owned Essakane Gold Mine mine is located in the Burkina Faso West Africa. The Company holds 40% interest in the Sadiola Gold Mine which is located in the Mali North Western Africa. It also holds 40% interest in the Yatela Gold Mine which is located in the Mali North Western Africa. The Company also holds Greenfield exploration projects which include the Boto Gold Project the Siribaya exploration project and the Monster Lake project.

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