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

Key Points

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American Century Companies Inc. boosted its holdings in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 19.0% during the 1st quarter, according to its most recent 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 quarter. American Century Companies Inc. owned 2.10% of Iamgold worth $75,489,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IAG. LPL Financial LLC lifted its position in Iamgold by 79.2% in the 4th quarter. LPL Financial LLC now owns 54,277 shares of the mining company's stock valued at $280,000 after acquiring an additional 23,990 shares in the last quarter. Franklin Resources Inc. lifted its position in Iamgold by 5.3% in the 4th quarter. Franklin Resources Inc. now owns 36,156 shares of the mining company's stock valued at $187,000 after acquiring an additional 1,836 shares in the last quarter. Geode Capital Management LLC lifted its position in Iamgold by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 274,756 shares of the mining company's stock valued at $1,435,000 after acquiring an additional 10,468 shares in the last quarter. Cerity Partners LLC bought a new position in Iamgold in the 4th quarter valued at approximately $303,000. Finally, Raymond James Financial Inc. bought a new position in shares of Iamgold during the 4th quarter valued at $107,000. 47.08% of the stock is owned by institutional investors.

Iamgold Price Performance

NYSE:IAG traded up $0.3050 on Friday, reaching $8.7650. 10,246,790 shares of the company's stock traded hands, compared to its average volume of 14,166,900. The company has a quick ratio of 0.76, a current ratio of 1.47 and a debt-to-equity ratio of 0.31. The stock has a 50-day simple moving average of $7.39 and a 200-day simple moving average of $6.83. The firm has a market cap of $5.04 billion, a PE ratio of 6.31, a P/E/G ratio of 0.27 and a beta of 1.08. Iamgold Corporation has a 12 month low of $4.44 and a 12 month high of $8.87.

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

Analyst Ratings Changes

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

About Iamgold

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.