Millennium Management LLC Has $63.47 Million Stock Holdings in Iamgold Corporation $IAG

Millennium Management LLC reduced its position in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 1.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,154,546 shares of the mining company's stock after selling 175,648 shares during the period. Millennium Management LLC owned approximately 1.77% of Iamgold worth $63,466,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IAG. Edmond DE Rothschild Holding S.A. lifted its holdings in Iamgold by 79.8% in the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 179,403 shares of the mining company's stock valued at $1,121,000 after acquiring an additional 79,617 shares during the last quarter. Amundi raised its holdings in shares of Iamgold by 55.7% in the 1st quarter. Amundi now owns 5,343,801 shares of the mining company's stock worth $34,895,000 after purchasing an additional 1,911,840 shares in the last quarter. Royal Bank of Canada lifted its stake in Iamgold by 14.0% during the first quarter. Royal Bank of Canada now owns 691,322 shares of the mining company's stock valued at $4,321,000 after purchasing an additional 84,939 shares during the last quarter. Vident Advisory LLC bought a new stake in Iamgold during the first quarter worth approximately $92,000. Finally, Magnetar Financial LLC bought a new stake in Iamgold during the first quarter worth approximately $98,000. 47.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Royal Bank Of Canada raised Iamgold from a "sector perform" rating to an "outperform" rating and upped their price target for the company from $9.00 to $14.00 in a report on Wednesday. Raymond James Financial upgraded Iamgold to a "hold" rating and set a $8.00 target price on the stock in a report on Monday, June 30th. National Bankshares reaffirmed an "outperform" rating on shares of Iamgold in a research report on Tuesday, June 24th. CIBC reiterated an "outperform" rating on shares of Iamgold in a research report on Tuesday, July 15th. Finally, Zacks Research cut Iamgold from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $10.13.

Iamgold Stock Up 1.4%

Shares of IAG traded up $0.16 during mid-day trading on Friday, reaching $11.21. The company's stock had a trading volume of 9,701,839 shares, compared to its average volume of 13,919,313. Iamgold Corporation has a 1 year low of $4.44 and a 1 year high of $11.36. The company has a quick ratio of 0.76, a current ratio of 1.47 and a debt-to-equity ratio of 0.31. The company has a market cap of $6.44 billion, a price-to-earnings ratio of 8.06, a price-to-earnings-growth ratio of 0.36 and a beta of 1.21. The business has a fifty day moving average of $8.05 and a 200 day moving average of $7.17.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last posted its quarterly earnings results on Thursday, August 7th. The mining company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). The business had revenue of $587.21 million for the quarter, compared to analyst estimates of $663.21 million. Iamgold had a net margin of 40.61% and a return on equity of 8.54%. As a group, analysts forecast that Iamgold Corporation will post 0.67 earnings per share for the current fiscal year.

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.