Allspring Global Investments Holdings LLC Grows Holdings in Iamgold Corporation (NYSE:IAG)

Allspring Global Investments Holdings LLC boosted its holdings in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 56.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,017,000 shares of the mining company's stock after buying an additional 728,000 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.35% of Iamgold worth $12,589,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Ritholtz Wealth Management acquired a new position in Iamgold in the first quarter valued at approximately $94,000. Franklin Resources Inc. raised its holdings in Iamgold by 5.3% in the fourth quarter. Franklin Resources Inc. now owns 36,156 shares of the mining company's stock worth $187,000 after purchasing an additional 1,836 shares during the period. Geode Capital Management LLC raised its holdings in Iamgold by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 274,756 shares of the mining company's stock worth $1,435,000 after purchasing an additional 10,468 shares during the period. Raymond James Financial Inc. acquired a new stake in Iamgold in the fourth quarter worth $107,000. Finally, Nuveen Asset Management LLC raised its holdings in Iamgold by 3.3% in the fourth quarter. Nuveen Asset Management LLC now owns 2,742,119 shares of the mining company's stock worth $14,166,000 after purchasing an additional 87,743 shares during the period. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IAG has been the topic of several analyst reports. Raymond James Financial upgraded shares of Iamgold to a "hold" rating and set a $8.00 target price on the stock in a report on Monday, June 30th. CIBC raised their price objective on shares of Iamgold from $8.40 to $9.20 and gave the stock an "outperformer" rating in a report on Thursday, May 8th. National Bank Financial upgraded shares of Iamgold to a "strong-buy" rating in a report on Friday, March 21st. National Bankshares reaffirmed an "outperform" rating on shares of Iamgold in a research report on Tuesday, June 24th. Finally, Scotiabank upped their price target on Iamgold from $7.50 to $7.75 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $8.29.

Iamgold Stock Up 0.3%

NYSE:IAG traded up $0.02 during trading hours on Monday, reaching $7.50. The company had a trading volume of 12,655,971 shares, compared to its average volume of 11,551,383. Iamgold Corporation has a twelve month low of $3.44 and a twelve month high of $8.38. The firm has a market cap of $4.31 billion, a price-to-earnings ratio of 5.32, a P/E/G ratio of 0.38 and a beta of 1.15. The business's 50-day simple moving average is $7.07 and its two-hundred day simple moving average is $6.41. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.29.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last announced its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. The business had revenue of $457.23 million for the quarter, compared to analyst estimates of $578.70 million. Iamgold had a net margin of 45.42% and a return on equity of 9.26%. On average, equities analysts expect that Iamgold Corporation will post 0.67 earnings per share for the current year.

Iamgold Company Profile

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.