Janus Henderson Group PLC Purchases Shares of 694,233 Iamgold Corporation $IAG

Key Points

• Janus Henderson Group purchased 694,233 IAMGOLD shares worth approximately $13.1 million, representing about 0.12% of the company. Institutional investors collectively own 47.08% of IAMGOLD.
• IAMGOLD reported quarterly earnings of $0.66 per share, beating estimates of $0.52, while revenue reached $1.01 billion versus expectations of $955.17 million.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $19.00, despite several recent target-price reductions.

Janus Henderson Group PLC purchased a new position in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 694,233 shares of the mining company's stock, valued at approximately $13,056,000. Janus Henderson Group PLC owned about 0.12% of Iamgold as of its most recent SEC filing.

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

Iamgold Stock Performance

Shares of IAG opened at $14.81 on Wednesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.89 and a quick ratio of 1.21. Iamgold Corporation has a one year low of $7.07 and a one year high of $24.87. The company has a 50-day simple moving average of $15.77 and a two-hundred day simple moving average of $18.11. The firm has a market capitalization of $8.51 billion, a PE ratio of 8.61, a price-to-earnings-growth ratio of 0.66 and a beta of 1.32.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last posted its quarterly earnings data on Tuesday, May 5th. The mining company reported $0.66 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $955.17 million. On average, analysts anticipate that Iamgold Corporation will post 1.98 EPS for the current fiscal year.

Analysts Set New Price Targets

IAG has been the topic of a number of recent analyst reports. Weiss Ratings lowered Iamgold from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, June 9th. Scotiabank reduced their target price on Iamgold from $25.00 to $22.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 14th. Wall Street Zen downgraded Iamgold from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 25th. Royal Bank Of Canada dropped their price target on Iamgold from $22.00 to $20.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. Finally, Bank of America cut their price target on shares of Iamgold from $22.50 to $21.00 and set a "buy" rating on the stock in a report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $19.00.

About Iamgold

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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