Amundi Boosts Stock Position in Iamgold Corporation $IAG

Amundi grew its holdings in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 55.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,343,801 shares of the mining company's stock after buying an additional 1,911,840 shares during the quarter. Amundi owned 0.93% of Iamgold worth $34,895,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in IAG. T. Rowe Price Investment Management Inc. purchased a new stake in shares of Iamgold in the first quarter valued at approximately $45,911,000. Millennium Management LLC boosted its stake in shares of Iamgold by 88.4% in the fourth quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company's stock worth $53,307,000 after acquiring an additional 4,846,254 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Iamgold in the first quarter worth approximately $20,620,000. Anson Funds Management LP boosted its stake in shares of Iamgold by 2,100.0% in the first quarter. Anson Funds Management LP now owns 3,300,000 shares of the mining company's stock worth $20,598,000 after acquiring an additional 3,150,000 shares during the last quarter. Finally, Ninety One UK Ltd acquired a new stake in shares of Iamgold in the first quarter worth approximately $14,678,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on IAG shares. Royal Bank Of Canada raised Iamgold from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from $9.00 to $14.00 in a research note on Wednesday. Raymond James Financial raised Iamgold to a "hold" rating and set a $8.00 price target on the stock in a research note on Monday, June 30th. National Bankshares reaffirmed an "outperform" rating on shares of Iamgold in a research note on Tuesday, June 24th. Zacks Research lowered Iamgold from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Finally, CIBC reaffirmed an "outperform" rating on shares of Iamgold in a research note on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $10.13.

Iamgold Trading Up 1.2%

Shares of Iamgold stock traded up $0.14 during trading hours on Friday, hitting $11.19. The company's stock had a trading volume of 5,009,578 shares, compared to its average volume of 13,892,038. Iamgold Corporation has a twelve month low of $4.44 and a twelve month high of $11.36. The firm has a fifty day moving average of $8.05 and a 200-day moving average of $7.17. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of 8.05, a P/E/G ratio of 0.36 and a beta of 1.21. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.76 and a current ratio of 1.47.

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

Iamgold 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.