Public Employees Retirement System of Ohio Boosts Holdings in Iamgold Corporation $IAG

Key Points

• The Public Employees Retirement System of Ohio increased its holdings in Iamgold Corporation by 9.8%, now owning 219,149 shares valued at approximately $1.6 million.
• Iamgold reported $0.13 earnings per share for the most recent quarter, missing estimates, with revenues of $587.21 million.
• Multiple analysts have upgraded Iamgold's stock ratings, with Royal Bank of Canada raising their price target from $9.00 to $14.00.

Public Employees Retirement System of Ohio grew its holdings in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 9.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 219,149 shares of the mining company's stock after purchasing an additional 19,588 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Iamgold were worth $1,611,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in IAG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Iamgold by 0.8% in 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 valued at $3,099,000 after purchasing an additional 5,053 shares during the period. Alpha Omega Wealth Management LLC acquired a new stake in Iamgold in the first quarter valued at approximately $75,000. NewGen Asset Management Ltd acquired a new stake in Iamgold in the first quarter valued at approximately $9,062,000. Ritholtz Wealth Management acquired a new stake in Iamgold in the first quarter valued at approximately $94,000. Finally, Precision Wealth Strategies LLC acquired a new stake in Iamgold in the first quarter valued at approximately $565,000. Hedge funds and other institutional investors own 47.08% of the company's stock.

Iamgold Trading Down 0.0%

Shares of IAG stock opened at $13.29 on Friday. The firm has a 50-day moving average price of $9.62 and a 200 day moving average price of $7.87. Iamgold Corporation has a twelve month low of $4.44 and a twelve month high of $13.37. The company has a market capitalization of $7.64 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 0.45 and a beta of 1.24. The company has a current ratio of 1.47, a quick ratio of 0.76 and a debt-to-equity ratio of 0.31.

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

Analyst Ratings Changes

A number of analysts have weighed in on IAG shares. Royal Bank Of Canada raised shares of Iamgold from a "sector perform" rating to an "outperform" rating and raised their price objective for the stock from $9.00 to $14.00 in a report on Wednesday, September 10th. National Bankshares reissued an "outperform" rating on shares of Iamgold in a report on Tuesday, June 24th. Raymond James Financial raised shares of Iamgold to a "hold" rating and set a $8.00 price objective on the stock in a report on Monday, June 30th. CIBC reissued an "outperform" rating on shares of Iamgold in a report on Tuesday, July 15th. Finally, Zacks Research cut shares of Iamgold from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average 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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