PKO Investment Management Joint Stock Co Has $1.39 Million Stock Position in Iamgold Corporation $IAG

PKO Investment Management Joint Stock Co lowered its stake in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 20.8% during the 2nd quarter, Holdings Channel.com reports. The firm owned 190,000 shares of the mining company’s stock after selling 50,000 shares during the quarter. PKO Investment Management Joint Stock Co’s holdings in Iamgold were worth $1,394,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. purchased a new stake in Iamgold in the 1st quarter valued at about $45,911,000. Nuveen LLC purchased a new stake in Iamgold in the 1st quarter valued at about $20,620,000. Anson Funds Management LP increased its stake in Iamgold by 2,100.0% in the 1st quarter. Anson Funds Management LP now owns 3,300,000 shares of the mining company’s stock valued at $20,598,000 after buying an additional 3,150,000 shares during the last quarter. Ninety One UK Ltd increased its stake in Iamgold by 127.7% in the 2nd quarter. Ninety One UK Ltd now owns 5,347,405 shares of the mining company’s stock valued at $39,303,000 after buying an additional 2,998,882 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in Iamgold by 19.0% in the 1st quarter. American Century Companies Inc. now owns 12,092,101 shares of the mining company’s stock valued at $75,489,000 after buying an additional 1,929,787 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on IAG shares. Stifel Canada upgraded shares of Iamgold from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Royal Bank Of Canada raised shares of Iamgold from a “sector perform” rating to an “outperform” rating and increased their target price for the company from $9.00 to $14.00 in a research report on Wednesday, September 10th. Zacks Research downgraded shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Raymond James Financial increased their target price on shares of Iamgold from $9.00 to $13.00 and gave the company a “market perform” rating in a research report on Friday, October 10th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Iamgold in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $15.25.

Iamgold Stock Performance

NYSE IAG opened at $11.88 on Friday. Iamgold Corporation has a 1 year low of $4.89 and a 1 year high of $14.67. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.47 and a quick ratio of 0.76. The stock has a market capitalization of $6.83 billion, a PE ratio of 8.54, a P/E/G ratio of 0.43 and a beta of 1.24. The company’s 50 day simple moving average is $11.32 and its two-hundred day simple moving average is $8.59.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Thursday, August 7th. The mining company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). The company had revenue of $587.21 million for the quarter, compared to analysts’ expectations of $663.21 million. Iamgold had a net margin of 40.61% and a return on equity of 8.54%. Analysts predict that Iamgold Corporation will post 0.67 earnings per share for the current fiscal year.

Iamgold 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.