Deutsche Bank AG Invests $41.40 Million in Iamgold Corporation $IAG

Key Points

• Deutsche Bank acquired 2.61 million IAMGOLD shares worth approximately $41.4 million in the second quarter, giving it a 0.46% stake. Institutional investors collectively own 47.08% of the company.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and an average price target of $20.00; Jefferies recently initiated coverage with a $24.00 target and “buy” rating.
• IAMGOLD reported quarterly EPS of $0.42, in line with estimates, while revenue of $845.97 million fell short of the $882.92 million consensus forecast. Shares opened at $21.11, within a 52-week range of $8.29 to $24.87.

Deutsche Bank AG acquired a new stake in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,613,564 shares of the mining company's stock, valued at approximately $41,399,000. Deutsche Bank AG owned about 0.46% of Iamgold as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of IAG. Mariner LLC grew its position in shares of Iamgold by 0.6% during the 4th quarter. Mariner LLC now owns 110,033 shares of the mining company's stock valued at $1,814,000 after acquiring an additional 615 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its stake in Iamgold by 1.9% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 37,000 shares of the mining company's stock worth $612,000 after buying an additional 700 shares in the last quarter. EverSource Wealth Advisors LLC lifted its holdings in Iamgold by 73.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,712 shares of the mining company's stock worth $51,000 after purchasing an additional 1,150 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Iamgold by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 220,452 shares of the mining company's stock worth $2,849,000 after purchasing an additional 1,303 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. boosted its stake in Iamgold by 0.4% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 343,605 shares of the mining company's stock worth $5,716,000 after purchasing an additional 1,424 shares during the period. Institutional investors own 47.08% of the company's stock.

Wall Street Analyst Weigh In

IAG has been the topic of several recent analyst reports. Bank of America reduced their price objective on shares of Iamgold from $22.50 to $21.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Scotiabank lifted their target price on Iamgold from $22.00 to $23.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 12th. Jefferies Financial Group began coverage on shares of Iamgold in a report on Thursday. They issued a "buy" rating and a $24.00 target price for the company. Royal Bank Of Canada reduced their price target on shares of Iamgold from $22.00 to $20.00 and set an "outperform" rating on the stock in a research report on Thursday, July 9th. Finally, Wall Street Zen upgraded shares of Iamgold from a "hold" rating to a "buy" rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Iamgold has a consensus rating of "Moderate Buy" and an average price target of $20.00.

Iamgold Stock Performance

Shares of Iamgold stock opened at $21.11 on Friday. Iamgold Corporation has a 52 week low of $8.29 and a 52 week high of $24.87. The company has a market capitalization of $12.12 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 1.09 and a beta of 1.32. The stock's fifty day moving average is $16.27 and its two-hundred day moving average is $18.01. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 0.10.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last posted its quarterly earnings results on Thursday, August 6th. The mining company reported $0.42 EPS for the quarter, hitting analysts' consensus estimates of $0.42. The firm had revenue of $845.97 million for the quarter, compared to analysts' expectations of $882.92 million. Iamgold had a net margin of 31.40% and a return on equity of 28.97%. As a group, analysts expect that Iamgold Corporation will post 1.91 earnings per share for the current year.

Iamgold Profile

IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.

The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.

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