Ninety One UK Ltd Acquires 2,998,882 Shares of Iamgold Corporation $IAG

Key Points

• Ninety One UK Ltd increased its holdings in Iamgold Corporation by 127.7%, acquiring an additional 2,998,882 shares during the second quarter, bringing its total ownership to 5,347,405 shares valued at $39.3 million.
• The recent stock performance of Iamgold (NYSE:IAG) shows a one-year low of $4.44 and a high of $13.14, with a current PE ratio of 9.30.
• Iamgold's latest quarterly earnings missed analysts' expectations, reporting an EPS of $0.13 versus the consensus estimate of $0.14, with revenues of $587.21 million against an expected $663.21 million.

Ninety One UK Ltd increased its holdings in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 127.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,347,405 shares of the mining company's stock after purchasing an additional 2,998,882 shares during the quarter. Ninety One UK Ltd owned 0.93% of Iamgold worth $39,303,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of IAG. Parallel Advisors LLC increased its holdings in Iamgold by 272.9% during the 2nd quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company's stock worth $26,000 after purchasing an additional 2,623 shares in the last quarter. Hsbc Holdings PLC grew its holdings in shares of Iamgold by 17.8% during the first quarter. Hsbc Holdings PLC now owns 19,973 shares of the mining company's stock worth $125,000 after buying an additional 3,020 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Iamgold by 0.8% during the fourth 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 buying an additional 5,053 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Iamgold during the first quarter worth about $35,000. Finally, Harvest Portfolios Group Inc. grew its stake in shares of Iamgold by 6.7% during the 1st quarter. Harvest Portfolios Group Inc. now owns 91,349 shares of the mining company's stock worth $570,000 after acquiring an additional 5,755 shares in the last quarter. 47.08% of the stock is owned by institutional investors.

Iamgold Stock Performance

Shares of IAG opened at $12.93 on Wednesday. The firm has a 50-day moving average of $9.25 and a 200-day moving average of $7.73. Iamgold Corporation has a one year low of $4.44 and a one year high of $13.14. The company has a market cap of $7.44 billion, a PE ratio of 9.30, a price-to-earnings-growth ratio of 0.44 and a beta of 1.21. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.47 and a quick ratio of 0.76.

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

Wall Street Analyst Weigh In

IAG has been the topic of a number of recent research reports. Zacks Research downgraded shares of Iamgold from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. CIBC reaffirmed an "outperform" rating on shares of Iamgold in a research report on Tuesday, July 15th. National Bankshares reaffirmed an "outperform" rating on shares of Iamgold in a research report on Tuesday, June 24th. Raymond James Financial upgraded Iamgold to a "hold" rating and set a $8.00 price objective for the company in a report on Monday, June 30th. Finally, Royal Bank Of Canada upgraded Iamgold from a "sector perform" rating to an "outperform" rating and raised their price objective for the company from $9.00 to $14.00 in a report on Wednesday, September 10th. Two equities 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 MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $10.13.

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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