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Surging Earnings Estimates Signal Good News for IAMGOLD (IAG)

IAMGOLD Corporation IAG is an international gold exploration and mining company that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on IAG’s earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that IAMGOLD could be a solid choice for investors.

Current Quarter Estimates for IAG

In the past 30 days, one estimate has gone higher for IAMGOLD while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates narrowing from a loss of 2 cents a share 30 days ago, to a loss of a penny today, a move of 50%.

Current Year Estimates for IAG

Meanwhile, IAMGOLD’s current year figures are also looking quite promising, with four estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from a loss of two cents per share 30 days ago to an earnings of 3 cents per share today.

Iamgold Corporation Price and Consensus

Iamgold Corporation Price and Consensus | Iamgold Corporation Quote

Bottom Line

The stock has also started to move higher lately, adding 9.3% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #3 (Hold) stock to profit in the near future. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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