Northwest & Ethical Investments L.P. Boosts Stake in Iamgold Corporation $IAG

Key Points

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Northwest & Ethical Investments L.P. raised its stake in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 109.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 192,291 shares of the mining company's stock after buying an additional 100,668 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Iamgold were worth $1,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Millennium Management LLC raised its holdings in shares of Iamgold by 88.4% in the 4th quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company's stock valued at $53,307,000 after purchasing an additional 4,846,254 shares in the last quarter. Nuveen LLC bought a new position in shares of Iamgold during the 1st quarter worth approximately $20,620,000. Ninety One UK Ltd bought a new position in shares of Iamgold during the 1st quarter worth approximately $14,678,000. American Century Companies Inc. raised its stake in shares of Iamgold by 19.0% during the 1st quarter. American Century Companies Inc. now owns 12,092,101 shares of the mining company's stock worth $75,489,000 after acquiring an additional 1,929,787 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Iamgold by 21.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,267,628 shares of the mining company's stock valued at $47,818,000 after purchasing an additional 1,637,158 shares in the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

Iamgold Price Performance

NYSE:IAG traded up $0.3050 during trading hours on Friday, reaching $8.7650. 11,630,230 shares of the company were exchanged, compared to its average volume of 14,178,262. The company has a current ratio of 1.47, a quick ratio of 0.76 and a debt-to-equity ratio of 0.31. The stock's 50-day moving average is $7.39 and its 200-day moving average is $6.83. The firm has a market cap of $5.04 billion, a PE ratio of 6.31, a price-to-earnings-growth ratio of 0.27 and a beta of 1.08. Iamgold Corporation has a twelve month low of $4.44 and a twelve month high of $8.87.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on IAG shares. Zacks Research lowered shares of Iamgold from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. National Bankshares reissued an "outperform" rating on shares of Iamgold in a report on Tuesday, June 24th. CIBC reissued an "outperform" rating on shares of Iamgold in a report on Tuesday, July 15th. Scotiabank increased their price target on shares of Iamgold from $7.50 to $7.75 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Finally, Raymond James Financial raised shares of Iamgold to a "hold" rating and set a $8.00 price target on the stock in a report on Monday, June 30th. Two analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $8.53.

Iamgold 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.