Deutsche Bank AG Buys 281,674 Shares of Iamgold Corporation $IAG

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 grew its stake in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 20.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,635,502 shares of the mining company's stock after acquiring an additional 281,674 shares during the quarter. Deutsche Bank AG owned about 0.28% of Iamgold worth $10,222,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Alpha Omega Wealth Management LLC purchased a new stake in shares of Iamgold during the 1st quarter valued at about $75,000. Avantax Advisory Services Inc. purchased a new stake in Iamgold during the first quarter valued at approximately $86,000. Ritholtz Wealth Management bought a new position in Iamgold in the first quarter worth approximately $94,000. Tudor Investment Corp ET AL boosted its stake in shares of Iamgold by 63.3% during the 4th quarter. Tudor Investment Corp ET AL now owns 18,986 shares of the mining company's stock worth $98,000 after acquiring an additional 7,359 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Iamgold during the 4th quarter worth $107,000. Hedge funds and other institutional investors own 47.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IAG. CIBC reiterated an "outperform" rating on shares of Iamgold in a research note on Tuesday, July 15th. National Bankshares reiterated an "outperform" rating on shares of Iamgold in a research note on Tuesday, June 24th. Scotiabank lifted their price target on shares of Iamgold from $7.50 to $7.75 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Zacks Research cut shares of Iamgold from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Finally, Raymond James Financial raised shares of Iamgold to a "hold" rating and set a $8.00 price target on the stock in a report on Monday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Iamgold presently has an average rating of "Moderate Buy" and an average price target of $8.53.

Iamgold Price Performance

Shares of Iamgold stock traded up $0.2050 on Wednesday, hitting $8.1650. 9,296,442 shares of the company traded hands, compared to its average volume of 13,381,116. The stock has a market capitalization of $4.70 billion, a P/E ratio of 5.87, a price-to-earnings-growth ratio of 0.25 and a beta of 1.08. 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 Corporation has a 52 week low of $4.44 and a 52 week high of $8.38. The business has a 50-day simple moving average of $7.37 and a 200 day simple moving average of $6.81.

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 (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). The company 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%. Research analysts expect that Iamgold Corporation will post 0.67 earnings per share for the current fiscal 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.