American Century Companies Inc. Purchases 1,929,787 Shares of Iamgold Corporation $IAG

Key Points

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American Century Companies Inc. increased its position in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 19.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,092,101 shares of the mining company's stock after acquiring an additional 1,929,787 shares during the period. American Century Companies Inc. owned about 2.10% of Iamgold worth $75,489,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alpha Omega Wealth Management LLC bought a new position in Iamgold during the first quarter valued at about $75,000. Avantax Advisory Services Inc. bought a new position in Iamgold during the first quarter valued at about $86,000. Ritholtz Wealth Management bought a new position in Iamgold during the first quarter valued at about $94,000. Tudor Investment Corp ET AL raised its holdings in Iamgold by 63.3% during the fourth quarter. Tudor Investment Corp ET AL now owns 18,986 shares of the mining company's stock valued at $98,000 after buying an additional 7,359 shares in the last quarter. Finally, Golden State Equity Partners bought a new position in Iamgold during the first quarter valued at about $125,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Iamgold Price Performance

NYSE IAG traded up $0.3050 during trading on Friday, reaching $8.7650. 11,630,230 shares of the company traded hands, compared to its average volume of 13,068,465. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.76 and a current ratio of 1.47. The stock's 50 day moving average price is $7.41 and its two-hundred day moving average price is $6.84. The company has a market cap of $5.04 billion, a price-to-earnings ratio of 6.31, a P/E/G ratio of 0.28 and a beta of 1.08. Iamgold Corporation has a 1-year low of $4.44 and a 1-year high of $8.87.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last released its quarterly earnings data on Thursday, August 7th. The mining company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.01). Iamgold had a net margin of 40.61% and a return on equity of 8.54%. The company had revenue of $587.21 million for the quarter, compared to analyst estimates of $663.21 million. As a group, analysts anticipate that Iamgold Corporation will post 0.67 EPS for the current year.

Wall Street Analysts Forecast Growth

IAG has been the topic of several research analyst reports. CIBC reaffirmed an "outperform" rating on shares of Iamgold in a research report on Tuesday, July 15th. National Bankshares reaffirmed an "outperform" rating on shares of Iamgold in a research report on Tuesday, June 24th. Raymond James Financial raised Iamgold to a "hold" rating and set a $8.00 price target on the stock in a research report on Monday, June 30th. Zacks Research downgraded Iamgold from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. Finally, Scotiabank lifted their target price on Iamgold from $7.50 to $7.75 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. Two analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $8.53.

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.