The latest trading session saw Iamgold (IAG) ending at $6.46, denoting a -0.31% adjustment from its last day's close. The stock trailed the S&P 500, which registered a daily gain of 0.36%. Elsewhere, the Dow saw a downswing of 0.28%, while the tech-heavy Nasdaq appreciated by 0.51%.
Heading into today, shares of the gold and niobium mining company had gained 14.69% over the past month, outpacing the Basic Materials sector's gain of 7.62% and the S&P 500's gain of 2.11% in that time.
The investment community will be closely monitoring the performance of Iamgold in its forthcoming earnings report. The company is scheduled to release its earnings on February 20, 2025. The company is forecasted to report an EPS of $0.15, showcasing a 150% upward movement from the corresponding quarter of the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Iamgold. Recent revisions tend to reflect the latest near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. The Zacks Consensus EPS estimate has moved 11.94% lower within the past month. Iamgold presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Iamgold is at present trading with a Forward P/E ratio of 9.41. Its industry sports an average Forward P/E of 11.41, so one might conclude that Iamgold is trading at a discount comparatively.
The Mining - Gold industry is part of the Basic Materials sector. This group has a Zacks Industry Rank of 79, putting it in the top 32% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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