Have a look at the miners index, GDX, IAG has been following it pretty good. So the IAG price doesn't necessarily reflect the company very well. However if there are bad numbers at earnings it could head towards they $3.50 range and they could very well drop the dividend. My average cost is $4.23, so I'd prefer that it stayed in its current range and they keep the dividend. I made the mistake of buying more at $5 a few days ago and that brought my average up from $3.68 to $4.23, big mistake possibly. We'll see.
Current analyst earning estimates (9 cents) are set for miss. However, any positive result (even 1 cent) could be considered good and likely get positive market reception, based on market reaction to peer company reports. They all reported below consensus, but number was positive, and market reaction was positive too.
Also, immediate reaction will depend a lot on gold price strength/weakness in the day of reporting.