Candriam S.C.A. cut its holdings in Iamgold Corporation (NYSE:IAG – Free Report) (TSE:IMG) by 33.8% during the first quarter, Holdings Channel reports. The institutional investor owned 1,020,000 shares of the mining company’s stock after selling 520,000 shares during the quarter. Candriam S.C.A.’s holdings in Iamgold were worth $19,196,000 as of its most recent SEC filing.
Several other institutional investors also recently modified their holdings of IAG. Rathbones Group PLC boosted its stake in Iamgold by 1,037,042.8% during the fourth quarter. Rathbones Group PLC now owns 418,901,982 shares of the mining company’s stock worth $6,907,694,000 after acquiring an additional 418,861,592 shares in the last quarter. FIL Ltd increased its stake in shares of Iamgold by 124.0% during the fourth 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 in the last quarter. Voloridge Investment Management LLC lifted its holdings in shares of Iamgold by 261.8% during the fourth quarter. Voloridge Investment Management LLC now owns 3,502,469 shares of the mining company’s stock valued at $57,756,000 after purchasing an additional 2,534,395 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Iamgold by 342.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,741,354 shares of the mining company’s stock valued at $45,333,000 after purchasing an additional 2,122,442 shares during the last quarter. Finally, Verition Fund Management LLC boosted its position in shares of Iamgold by 649.4% in the 3rd quarter. Verition Fund Management LLC now owns 2,315,665 shares of the mining company’s stock worth $29,942,000 after purchasing an additional 2,006,672 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
IAG has been the topic of several analyst reports. Bank of America dropped their target price on Iamgold from $22.50 to $21.00 and set a “buy” rating on the stock in a report on Thursday. Royal Bank Of Canada decreased their target price on shares of Iamgold from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday. Zacks Research downgraded shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, Weiss Ratings cut shares of Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.60.
Iamgold Stock Performance
Shares of Iamgold stock traded down $0.14 during trading on Friday, hitting $15.33. 2,460,918 shares of the company’s stock traded hands, compared to its average volume of 5,079,893. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.89 and a quick ratio of 1.21. Iamgold Corporation has a 1 year low of $6.69 and a 1 year high of $24.87. The stock has a market capitalization of $8.87 billion, a P/E ratio of 8.91, a PEG ratio of 0.63 and a beta of 1.30. The business has a 50-day simple moving average of $16.77 and a 200-day simple moving average of $18.40.
Iamgold (NYSE:IAG – Get Free Report) (TSE:IMG) last issued its earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $955.17 million. Iamgold had a return on equity of 26.65% and a net margin of 29.49%. As a group, analysts forecast that Iamgold Corporation will post 2.07 EPS for the current year.
Iamgold Company Profile
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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