Winmill & CO. Inc. Buys New Position in Iamgold Corporation $IAG

Key Points

• Winmill & CO. Inc. acquired 1.19 million Iamgold shares worth approximately $18.85 million, making Iamgold its seventh-largest holding and representing about 4.2% of its portfolio.
• Institutional ownership remains significant at 47.08%, with major investors including BlackRock, FIL Ltd., Donald Smith & Co., Connor Clark & Lunn, and Deutsche Bank recently buying or increasing positions.
• Analysts maintain a generally positive outlook, with Iamgold carrying a consensus “Moderate Buy” rating and a $20 price target; the company reported quarterly EPS of $0.42, in line with estimates, but revenue below expectations.

Winmill & CO. Inc. bought a new stake in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,190,000 shares of the mining company's stock, valued at approximately $18,850,000. Iamgold comprises about 4.2% of Winmill & CO. Inc.'s holdings, making the stock its 7th biggest position. Winmill & CO. Inc. owned 0.21% of Iamgold at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. BlackRock Inc. bought a new position in Iamgold during the second quarter worth $350,145,000. FIL Ltd boosted its holdings in Iamgold by 124.0% in the 4th quarter. FIL Ltd now owns 36,367,149 shares of the mining company's stock valued at $600,135,000 after purchasing an additional 20,134,496 shares during the period. Donald Smith & CO. Inc. acquired a new stake in Iamgold in the 2nd quarter worth $206,146,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Iamgold in the 2nd quarter worth $158,877,000. Finally, Deutsche Bank AG acquired a new stake in Iamgold in the 2nd quarter worth $41,399,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Weiss Ratings lowered shares of Iamgold from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, June 9th. Scotiabank lifted their target price on Iamgold from $22.00 to $23.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 12th. Bank of America lowered their price target on Iamgold from $22.50 to $21.00 and set a "buy" rating on the stock in a research note on Thursday, July 9th. Jefferies Financial Group assumed coverage on Iamgold in a report on Thursday. They issued a "buy" rating and a $24.00 price target for the company. Finally, Royal Bank Of Canada reduced their price objective on Iamgold from $22.00 to $20.00 and set an "outperform" rating for the company in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Iamgold presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.00.

Iamgold Stock Performance

Iamgold stock opened at $21.11 on Monday. The firm has a market capitalization of $12.12 billion, a P/E ratio of 10.66, a P/E/G ratio of 1.12 and a beta of 1.32. The stock has a fifty day moving average price of $16.27 and a two-hundred day moving average price of $18.01. Iamgold Corporation has a 52-week low of $8.29 and a 52-week high of $24.87. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.71 and a quick ratio of 1.05.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last issued its earnings results on Thursday, August 6th. The mining company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. Iamgold had a net margin of 31.40% and a return on equity of 28.97%. The company had revenue of $845.97 million for the quarter, compared to the consensus estimate of $882.92 million. As a group, analysts anticipate that Iamgold Corporation will post 1.92 EPS for the current fiscal year.

About Iamgold

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.

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