Jupiter Asset Management Ltd. Buys Shares of 175,817 Iamgold Corporation (NYSE:IAG)

Jupiter Asset Management Ltd. bought a new stake in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 175,817 shares of the mining company's stock, valued at approximately $1,097,000.

Other large investors have also modified their holdings of the company. Franklin Resources Inc. grew its holdings in shares of Iamgold by 5.3% during the 4th quarter. Franklin Resources Inc. now owns 36,156 shares of the mining company's stock worth $187,000 after purchasing an additional 1,836 shares during the period. Freedom Investment Management Inc. grew its holdings in shares of Iamgold by 4.2% during the 4th quarter. Freedom Investment Management Inc. now owns 108,747 shares of the mining company's stock worth $561,000 after purchasing an additional 4,399 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Iamgold by 0.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 600,647 shares of the mining company's stock worth $3,099,000 after purchasing an additional 5,053 shares during the period. Scotia Capital Inc. grew its holdings in shares of Iamgold by 7.4% during the 4th quarter. Scotia Capital Inc. now owns 95,612 shares of the mining company's stock worth $493,000 after purchasing an additional 6,595 shares during the period. Finally, Tudor Investment Corp ET AL grew its holdings 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 purchasing an additional 7,359 shares during the period. Institutional investors and hedge funds own 47.08% of the company's stock.

Iamgold Price Performance

IAG stock opened at $7.26 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.41 and a quick ratio of 0.83. The firm has a market capitalization of $4.18 billion, a P/E ratio of 5.15, a P/E/G ratio of 0.21 and a beta of 1.08. The business's 50-day moving average is $7.20 and its two-hundred day moving average is $6.65. Iamgold Corporation has a 1 year low of $3.44 and a 1 year high of $8.38.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last posted its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.10. The company had revenue of $457.23 million for the quarter, compared to analyst estimates of $578.70 million. Iamgold had a return on equity of 9.26% and a net margin of 45.42%. Analysts anticipate that Iamgold Corporation will post 0.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on IAG shares. BMO Capital Markets started coverage on Iamgold in a report on Wednesday, April 16th. They set an "outperform" rating for the company. CIBC reiterated an "outperform" rating on shares of Iamgold in a report on Tuesday, July 15th. Scotiabank increased their price target on Iamgold from $7.50 to $7.75 and gave the stock a "sector perform" rating in a report on Monday, May 12th. National Bankshares restated an "outperform" rating on shares of Iamgold in a report on Tuesday, June 24th. Finally, Raymond James Financial upgraded Iamgold to a "hold" rating and set a $8.00 target price for the company in a report on Monday, June 30th. 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's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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.

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