Alberta Investment Management Corp Makes New Investment in Iamgold Corporation $IAG

Alberta Investment Management Corp bought a new stake in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 156,953 shares of the mining company's stock, valued at approximately $2,489,000.

A number of other hedge funds have also recently modified their holdings of IAG. Mariner LLC boosted its stake in shares of Iamgold by 0.6% during the fourth quarter. Mariner LLC now owns 110,033 shares of the mining company's stock valued at $1,814,000 after purchasing an additional 615 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA grew its stake in Iamgold by 1.9% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 37,000 shares of the mining company's stock worth $612,000 after acquiring an additional 700 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Iamgold by 73.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,712 shares of the mining company's stock worth $51,000 after acquiring an additional 1,150 shares during the period. Public Employees Retirement System of Ohio increased its position in shares of Iamgold by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 220,452 shares of the mining company's stock worth $2,849,000 after acquiring an additional 1,303 shares during the period. Finally, Northwest & Ethical Investments L.P. raised its stake in shares of Iamgold by 0.4% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 343,605 shares of the mining company's stock valued at $5,716,000 after acquiring an additional 1,424 shares in the last quarter. Institutional investors own 47.08% of the company's stock.

Iamgold Stock Up 4.3%

Iamgold stock opened at $19.09 on Tuesday. The business has a fifty day moving average of $15.94 and a two-hundred day moving average of $18.01. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 0.10. The firm has a market cap of $10.96 billion, a P/E ratio of 9.64, a P/E/G ratio of 0.97 and a beta of 1.32. Iamgold Corporation has a twelve month low of $7.90 and a twelve month high of $24.87.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last announced its quarterly earnings results on Thursday, August 6th. The mining company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.42. Iamgold had a return on equity of 28.97% and a net margin of 31.40%.The business had revenue of $845.97 million for the quarter, compared to the consensus estimate of $882.92 million. On average, analysts forecast that Iamgold Corporation will post 1.91 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

IAG has been the subject of a number of research reports. Bank of America lowered their price target on Iamgold from $22.50 to $21.00 and set a "buy" rating for the company in a report on Thursday, July 9th. Wall Street Zen lowered Iamgold from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Royal Bank Of Canada lowered their target price on Iamgold from $22.00 to $20.00 and set an "outperform" rating for the company in a report on Thursday, July 9th. Scotiabank increased their price target on Iamgold from $22.00 to $23.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings lowered Iamgold from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $19.20.

About Iamgold

IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.

The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.

Want to see what other hedge funds are holding IAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source