Arrowstreet Capital Limited Partnership lessened its stake in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 62.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,248,408 shares of the mining company's stock after selling 3,775,026 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.39% of Iamgold worth $42,303,000 at the end of the most recent reporting period.
Other hedge funds have also bought and sold shares of the company. Rathbones Group PLC lifted its position in Iamgold by 1,037,042.8% during the 4th quarter. Rathbones Group PLC now owns 418,901,982 shares of the mining company's stock worth $6,907,694,000 after acquiring an additional 418,861,592 shares during the period. FIL Ltd boosted its stake in shares of Iamgold by 124.0% in the fourth quarter. FIL Ltd now owns 36,367,149 shares of the mining company's stock worth $600,135,000 after buying an additional 20,134,496 shares during the last quarter. Voloridge Investment Management LLC grew its holdings in Iamgold by 261.8% during the fourth quarter. Voloridge Investment Management LLC now owns 3,502,469 shares of the mining company's stock worth $57,756,000 after acquiring an additional 2,534,395 shares during the period. The Manufacturers Life Insurance Company boosted its position in Iamgold by 342.9% in the 4th quarter. The Manufacturers Life Insurance Company now owns 2,741,354 shares of the mining company's stock worth $45,333,000 after purchasing an additional 2,122,442 shares in the last quarter. Finally, Verition Fund Management LLC grew its stake in shares of Iamgold by 649.4% during the 3rd quarter. Verition Fund Management LLC now owns 2,315,665 shares of the mining company's stock worth $29,942,000 after purchasing an additional 2,006,672 shares during the period. Institutional investors and hedge funds own 47.08% of the company's stock.
Iamgold Stock Down 2.9%
Shares of NYSE IAG opened at $14.28 on Wednesday. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.12. The business's 50 day moving average is $16.00 and its two-hundred day moving average is $18.22. Iamgold Corporation has a 52-week low of $6.69 and a 52-week high of $24.87. The firm has a market cap of $8.20 billion, a price-to-earnings ratio of 8.30, a PEG ratio of 0.65 and a beta of 1.30.
Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last released its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.52 by $0.14. Iamgold had a return on equity of 26.65% and a net margin of 29.49%.The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $955.17 million. Research analysts predict that Iamgold Corporation will post 1.98 EPS for the current year.
Analyst Ratings Changes
Several research firms recently issued reports on IAG. Bank of America decreased their target price on shares of Iamgold from $22.50 to $21.00 and set a "buy" rating for the company in a research note on Thursday, July 9th. Wall Street Zen lowered shares of Iamgold from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Weiss Ratings cut shares of Iamgold from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 9th. Scotiabank decreased their price objective on shares of Iamgold from $25.00 to $22.00 and set a "sector perform" rating for the company in a research report on Tuesday, July 14th. Finally, Royal Bank Of Canada lowered their target price on shares of Iamgold from $22.00 to $20.00 and set an "outperform" rating on the stock in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $19.00.
Read Our Latest Report on Iamgold
Iamgold Profile
(
Free Report)
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.
Further Reading
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