Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Iamgold Corporation (NYSE:IAG – Free Report) (TSE:IMG) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 10,042,436 shares of the mining company’s stock, valued at approximately $158,877,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Bank of Nova Scotia bought a new stake in Iamgold in the 2nd quarter valued at approximately $6,985,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of Iamgold during the 2nd quarter worth approximately $170,000. Quantbot Technologies LP bought a new position in shares of Iamgold during the 2nd quarter worth approximately $1,195,000. William Blair Investment Management LLC acquired a new stake in shares of Iamgold in the second quarter valued at approximately $11,314,000. Finally, Callan Family Office LLC acquired a new stake in shares of Iamgold in the second quarter valued at approximately $191,000. Institutional investors and hedge funds own 47.08% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of 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. Bank of America decreased their target price on shares of Iamgold from $22.50 to $21.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Wall Street Zen upgraded shares of Iamgold from a “hold” rating to a “buy” rating in a research note on Saturday. Royal Bank Of Canada cut their price target on shares of Iamgold from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Finally, Scotiabank increased their price objective on shares of Iamgold from $22.00 to $23.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Iamgold has a consensus rating of “Moderate Buy” and a consensus target price of $20.00.
Iamgold Trading Down 0.1%
Shares of Iamgold stock opened at $21.11 on Monday. Iamgold Corporation has a 12-month low of $8.29 and a 12-month high of $24.87. The stock has a market cap 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 company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 0.10. The business’s 50 day moving average is $16.27 and its 200-day moving average is $18.01.
Iamgold (NYSE:IAG – Get Free Report) (TSE:IMG) last released its quarterly earnings data on Thursday, August 6th. The mining company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. Iamgold had a return on equity of 28.97% and a net margin of 31.40%.The company had revenue of $845.97 million during the quarter, compared to the consensus estimate of $882.92 million. Equities research analysts predict that Iamgold Corporation will post 1.92 earnings per share for the current fiscal 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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