Van ECK Associates Corp raised its stake in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 2.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,110,975 shares of the mining company's stock after acquiring an additional 985,939 shares during the quarter. Van ECK Associates Corp owned about 6.64% of Iamgold worth $603,742,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of IAG. Banque Transatlantique SA acquired a new position in shares of Iamgold in the second quarter valued at approximately $26,000. Pin Oak Investment Advisors Inc. acquired a new stake in Iamgold during the 2nd quarter worth approximately $28,000. Global Retirement Partners LLC acquired a new stake in Iamgold during the 4th quarter worth approximately $33,000. Western Wealth Management LLC bought a new stake in Iamgold in the 1st quarter valued at $43,000. Finally, Banque Cantonale Vaudoise boosted its stake in Iamgold by 617.8% in the 4th quarter. Banque Cantonale Vaudoise now owns 2,986 shares of the mining company's stock valued at $49,000 after purchasing an additional 2,570 shares during the period. 47.08% of the stock is currently owned by institutional investors and hedge funds.
Iamgold Trading Down 4.4%
Shares of IAG stock opened at $20.60 on Friday. The stock has a market cap of $11.83 billion, a P/E ratio of 10.40, a price-to-earnings-growth ratio of 1.14 and a beta of 1.32. Iamgold Corporation has a 1 year low of $8.97 and a 1 year high of $24.87. The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 0.10. The stock has a 50 day simple moving average of $16.68 and a 200 day simple moving average of $18.11.
Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last posted its quarterly earnings data on Thursday, August 6th. The mining company reported $0.42 EPS for the quarter, hitting analysts' consensus estimates of $0.42. The firm had revenue of $845.97 million for the quarter, compared to analyst estimates of $882.92 million. Iamgold had a return on equity of 28.97% and a net margin of 31.40%. On average, research analysts predict that Iamgold Corporation will post 1.92 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several research firms have weighed in on IAG. Scotiabank increased their price objective on Iamgold from $22.00 to $23.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 12th. Royal Bank Of Canada reduced their target price on shares of Iamgold from $22.00 to $20.00 and set an "outperform" rating for the company in a research report on Thursday, July 9th. Bank of America decreased their price target on shares of Iamgold from $22.50 to $21.00 and set a "buy" rating on the stock in a research note on Thursday, July 9th. Weiss Ratings lowered shares of Iamgold from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, June 9th. Finally, Wall Street Zen raised shares of Iamgold from a "hold" rating to a "buy" rating in a research report on Saturday, August 22nd. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $20.00.
View Our Latest Stock Report on IAG
Iamgold Company Profile
(
Free Report)
IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.
The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.
See Also
Want to see what other hedge funds are holding IAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Iamgold, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Iamgold wasn't on the list.
While Iamgold currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Tesla, Nvidia, and Google helped shape the last era of market growth, but the next wave could come from a new group of companies. Inside this report, you’ll find 7 stocks that could play a major role in the next tech-driven market boom.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
