Iamgold reported break-even earnings for the third quarter, missing the Capital IQ Consensus Estimate of 4 cents a share by 4 cents. Revenue grew 16.4% year over year to $341.5 million for the third quarter, beating analysts' estimates of $324.58 million.
The company said attributable gold production grew to 225,000 ounces in the third quarter, a 9% increase from the second quarter. Iamgold reported attributable gold sales of 233,000 in the third quarter.
Iamgold also narrowed its 2014 gold production guidance to between 835,000 and 850,000 ounces from its previous estimate of between 835,000 and 900,000 ounces for the year.
TheStreet Ratings team rates IAMGOLD CORP as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate IAMGOLD CORP (IAG) a SELL. This is driven by several weaknesses, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its disappointing return on equity, poor profit margins and generally disappointing historical performance in the stock itself."