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Iamgold (IAG) Gains As Market Dips: What You Should Know

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Iamgold (IAG - Free Report) closed the most recent trading day at $17.61, moving +1.67% from the previous trading session. The stock outpaced the S&P 500's daily loss of 0.03%. On the other hand, the Dow registered a loss of 0.04%, and the technology-centric Nasdaq decreased by 0.09%.

Coming into today, shares of the gold and niobium mining company had gained 13.13% in the past month. In that same time, the Basic Materials sector gained 9.22%, while the S&P 500 gained 2.57%.

Investors will be eagerly watching for the performance of Iamgold in its upcoming earnings disclosure. On that day, Iamgold is projected to report earnings of $0.38 per share, which would represent year-over-year growth of 280%.

IAG's full-year Zacks Consensus Estimates are calling for earnings of $0.89 per share and revenue of $0 million. These results would represent year-over-year changes of +61.82% and 0%, respectively.

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. As a result, we can interpret positive estimate revisions as a good sign for the business outlook.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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 moved 10.07% higher. Right now, Iamgold possesses a Zacks Rank of #1 (Strong Buy).

Looking at its valuation, Iamgold is holding a Forward P/E ratio of 19.57. For comparison, its industry has an average Forward P/E of 17.73, which means Iamgold is trading at a premium to the group.

It's also important to note that IAG currently trades at a PEG ratio of 0.47. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. As the market closed yesterday, the Mining - Gold industry was having an average PEG ratio of 0.56.

The Mining - Gold industry is part of the Basic Materials sector. At present, this industry carries a Zacks Industry Rank of 47, placing it within the top 20% of over 250 industries.

The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.


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