Tocqueville Asset Management L.P. raised its position in Iamgold Corp (NYSE:IAG) (TSE:IMG) by 42.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,820,300 shares of the mining company’s stock after purchasing an additional 3,540,900 shares during the period. Tocqueville Asset Management L.P. owned 2.53% of Iamgold worth $41,016,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in IAG. JPMorgan Chase & Co. boosted its holdings in Iamgold by 723.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,045,048 shares of the mining company’s stock valued at $48,006,000 after purchasing an additional 11,461,355 shares during the period. Ruffer LLP purchased a new stake in shares of Iamgold during the 4th quarter valued at $40,087,000. Norges Bank purchased a new stake in shares of Iamgold during the 4th quarter valued at $19,454,000. Millennium Management LLC raised its position in shares of Iamgold by 503.9% during the 4th quarter. Millennium Management LLC now owns 4,127,930 shares of the mining company’s stock valued at $15,191,000 after buying an additional 3,444,376 shares in the last quarter. Finally, Investec Asset Management LTD raised its position in shares of Iamgold by 167.6% during the 4th quarter. Investec Asset Management LTD now owns 5,083,513 shares of the mining company’s stock valued at $18,707,000 after buying an additional 3,184,193 shares in the last quarter. 54.15% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently weighed in on the stock. Raymond James restated a “market perform” rating and set a $4.00 price objective on shares of Iamgold in a research report on Wednesday, May 8th. Zacks Investment Research cut shares of Iamgold from a “hold” rating to a “sell” rating in a research report on Tuesday, April 2nd. Desjardins upgraded shares of Iamgold from a “hold” rating to a “buy” rating in a research report on Monday, January 28th. ValuEngine upgraded shares of Iamgold from a “sell” rating to a “hold” rating in a research report on Tuesday, January 29th. Finally, Royal Bank of Canada lowered their price objective on shares of Iamgold from $5.00 to $3.25 and set a “sector perform” rating on the stock in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Iamgold currently has an average rating of “Hold” and a consensus price target of $4.18.
NYSE:IAG traded down $0.06 during trading hours on Friday, reaching $2.42. The company’s stock had a trading volume of 4,062,600 shares, compared to its average volume of 5,459,205. The stock has a market cap of $1.14 billion, a PE ratio of 40.33, a PEG ratio of 20.40 and a beta of -0.41. Iamgold Corp has a 1 year low of $2.33 and a 1 year high of $6.33. The company has a quick ratio of 3.11, a current ratio of 4.18 and a debt-to-equity ratio of 0.14.
Iamgold (NYSE:IAG) (TSE:IMG) last issued its earnings results on Wednesday, February 20th. The mining company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). The business had revenue of $274.30 million during the quarter, compared to analysts’ expectations of $273.84 million. Iamgold had a negative return on equity of 0.43% and a negative net margin of 10.67%. Iamgold’s revenue for the quarter was down 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.03) EPS. Sell-side analysts anticipate that Iamgold Corp will post 0.04 EPS for the current year.
IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine in Burkina Faso, West Africa; the Westwood mine in Quebec, Canada; and the Sadiola mine located in Mali, West Africa.
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