Despite improved sales, Iamgold’s Q1 earnings below analyst expectations

Canadian gold miner Iamgold after market close on Tuesday reported lower than expected headline earnings, higher cost of sales and lower prices offseting improved sales for the three months ended March 31. The company’s NYSE-listed stock traded down 7.24% on Wednesday at $2.12 apiece, after the company reported an adjusted loss of $26.7-million, or $0.07 a share, compared with an adjusted profit of $12-million, or $0.03 a share, in the comparable period a year earlier.