Teachers Retirement System of The State of Kentucky Takes Position in Iamgold Corporation (NYSE:IAG)

Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 636,000 shares of the mining company's stock, valued at approximately $3,975,000. Teachers Retirement System of The State of Kentucky owned about 0.11% of Iamgold at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. purchased a new stake in Iamgold during the 1st quarter valued at about $647,000. Ritholtz Wealth Management purchased a new stake in Iamgold during the 1st quarter valued at about $94,000. Franklin Resources Inc. boosted its holdings in Iamgold by 5.3% during the 4th quarter. Franklin Resources Inc. now owns 36,156 shares of the mining company's stock valued at $187,000 after acquiring an additional 1,836 shares during the period. Geode Capital Management LLC boosted its holdings in Iamgold by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 274,756 shares of the mining company's stock valued at $1,435,000 after acquiring an additional 10,468 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in Iamgold during the 4th quarter valued at about $107,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on IAG shares. Scotiabank increased their target price on Iamgold from $7.50 to $7.75 and gave the company a "sector perform" rating in a report on Monday, May 12th. CIBC restated an "outperform" rating on shares of Iamgold in a report on Tuesday, July 15th. BMO Capital Markets began coverage on Iamgold in a report on Wednesday, April 16th. They issued an "outperform" rating for the company. National Bankshares reiterated 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 price objective for the company in a report on Monday, June 30th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $8.53.

Iamgold Trading Up 4.4%

NYSE IAG opened at $7.21 on Tuesday. Iamgold Corporation has a fifty-two week low of $3.44 and a fifty-two week high of $8.38. The stock has a market cap of $4.14 billion, a P/E ratio of 5.11, a price-to-earnings-growth ratio of 0.33 and a beta of 1.15. The stock has a 50 day simple moving average of $7.10 and a two-hundred day simple moving average of $6.55. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.83 and a current ratio of 1.41.

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

About Iamgold

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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