Iamgold Corporation (NYSE:IAG) Stock Holdings Lifted by Deutsche Bank AG

Key Points

• Deutsche Bank AG increased its stake in Iamgold Corporation by 20.8%, owning approximately $10.22 million worth of shares after acquiring 281,674 additional shares in the first quarter.
• Analysts have given Iamgold stock a mixed rating with four hold ratings, four buy ratings, and two strong buy ratings, setting an average price target of $8.53.
• Iamgold reported earnings of $0.13 per share for the last quarter, falling short of analysts' expectations of $0.14, and had total revenue of $587.21 million against the projected $663.21 million.

Deutsche Bank AG lifted its holdings in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 20.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,635,502 shares of the mining company's stock after buying an additional 281,674 shares during the period. Deutsche Bank AG owned about 0.28% of Iamgold worth $10,222,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Alpha Omega Wealth Management LLC bought a new stake in shares of Iamgold during the 1st quarter valued at $75,000. Avantax Advisory Services Inc. acquired a new stake in Iamgold in the 1st quarter valued at about $86,000. Ritholtz Wealth Management acquired a new stake in Iamgold in the 1st quarter valued at about $94,000. Tudor Investment Corp ET AL raised its holdings in Iamgold by 63.3% in the 4th quarter. Tudor Investment Corp ET AL now owns 18,986 shares of the mining company's stock valued at $98,000 after acquiring an additional 7,359 shares during the period. Finally, Raymond James Financial Inc. bought a new position in shares of Iamgold during the fourth quarter worth approximately $107,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Iamgold Price Performance

Shares of IAG traded up $0.14 during trading hours on Friday, reaching $8.14. 17,593,072 shares of the company traded hands, compared to its average volume of 13,860,885. 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 market capitalization of $4.68 billion, a PE ratio of 5.86, a price-to-earnings-growth ratio of 0.26 and a beta of 1.08. Iamgold Corporation has a fifty-two week low of $4.44 and a fifty-two week high of $8.38. The stock has a fifty day simple moving average of $7.32 and a 200 day simple moving average of $6.78.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last released its quarterly earnings data 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 firm had revenue of $587.21 million during the quarter, compared to analysts' expectations of $663.21 million. Iamgold had a return on equity of 8.54% and a net margin of 40.61%. As a group, research analysts predict that Iamgold Corporation will post 0.67 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. National Bankshares reaffirmed an "outperform" rating on shares of Iamgold in a report on Tuesday, June 24th. Raymond James Financial upgraded shares of Iamgold to a "hold" rating and set a $8.00 price objective for the company in a research note on Monday, June 30th. CIBC restated an "outperform" rating on shares of Iamgold in a research report on Tuesday, July 15th. Finally, Scotiabank boosted their target price on shares of Iamgold from $7.50 to $7.75 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Four research analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus 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.