Rokos Capital Management LLP acquired a new stake in shares of Iamgold Corporation (NYSE:IAG – Free Report) (TSE:IMG) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 220,601 shares of the mining company’s stock, valued at approximately $4,148,000.
A number of other large investors also recently bought and sold shares of IAG. Rathbones Group PLC lifted its holdings 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 buying an additional 418,861,592 shares during the period. FIL Ltd increased its holdings in shares of 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 acquiring an additional 20,134,496 shares during the period. Vanguard Group Inc. increased its holdings in shares of Iamgold by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 23,836,156 shares of the mining company’s stock valued at $393,328,000 after acquiring an additional 1,068,465 shares during the period. Bank of America Corp DE raised its position in shares of Iamgold by 16.4% in the 3rd quarter. Bank of America Corp DE now owns 11,194,505 shares of the mining company’s stock worth $144,745,000 after acquiring an additional 1,581,064 shares in the last quarter. Finally, Ninety One UK Ltd raised its position in shares of Iamgold by 22.3% in the 4th quarter. Ninety One UK Ltd now owns 5,144,604 shares of the mining company’s stock worth $84,835,000 after acquiring an additional 938,855 shares in the last quarter. Institutional investors own 47.08% of the company’s stock.
Iamgold Stock Performance
Shares of IAG stock opened at $14.68 on Tuesday. The business’s fifty day simple moving average is $16.04 and its 200-day simple moving average is $18.23. The company has a market cap of $8.43 billion, a PE ratio of 8.53, a PEG ratio of 0.65 and a beta of 1.30. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. Iamgold Corporation has a 12-month low of $6.69 and a 12-month high of $24.87.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on IAG shares. Zacks Research cut Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Bank of America cut their target price on Iamgold from $22.50 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. 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 report on Thursday, July 9th. Scotiabank decreased their price target on shares of Iamgold from $25.00 to $22.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Finally, Wall Street Zen cut shares of Iamgold from a “strong-buy” rating to a “buy” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.
Check Out Our Latest Analysis on IAG
Iamgold 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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