Leuthold Group LLC grew its position in Iamgold Corporation (NYSE:IAG – Free Report) (TSE:IMG) by 6.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 593,982 shares of the mining company’s stock after buying an additional 35,435 shares during the quarter. Iamgold makes up approximately 1.0% of Leuthold Group LLC’s portfolio, making the stock its 24th largest position. Leuthold Group LLC’s holdings in Iamgold were worth $10,935,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in IAG. Euro Pacific Asset Management LLC raised its holdings in shares of Iamgold by 5.4% during the third quarter. Euro Pacific Asset Management LLC now owns 1,345,587 shares of the mining company’s stock valued at $24,772,000 after acquiring an additional 68,961 shares during the period. StoneX Group Inc. purchased a new stake in shares of Iamgold in the 3rd quarter valued at approximately $454,000. Alps Advisors Inc. boosted its stake in Iamgold by 0.4% in the 3rd quarter. Alps Advisors Inc. now owns 368,612 shares of the mining company’s stock worth $6,786,000 after purchasing an additional 1,448 shares during the period. Ashton Thomas Private Wealth LLC acquired a new position in Iamgold in the 3rd quarter worth approximately $1,942,000. Finally, CenterBook Partners LP acquired a new position in Iamgold in the 3rd quarter worth approximately $272,000. 47.08% of the stock is owned by hedge funds and other institutional investors.
Iamgold Stock Performance
IAG stock opened at $19.80 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.05 and a current ratio of 1.71. The stock has a market cap of $11.22 billion, a P/E ratio of 8.76, a P/E/G ratio of 1.29 and a beta of 1.39. The firm has a 50 day simple moving average of $18.61 and a 200 day simple moving average of $18.34. Iamgold Corporation has a 52 week low of $12.63 and a 52 week high of $24.87.
Iamgold (NYSE:IAG – Get Free Report) (TSE:IMG) last announced its quarterly earnings data on Thursday, November 5th. The mining company reported $0.42 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. The firm had revenue of $843.58 million for the quarter, compared to the consensus estimate of $826.66 million. Iamgold had a net margin of 31.40% and a return on equity of 28.97%. Research analysts anticipate that Iamgold Corporation will post 1.85 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on IAG. Zacks Research downgraded shares of Iamgold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 20th. Weiss Ratings cut Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, October 26th. Scotiabank lifted their price target on Iamgold from $22.00 to $23.00 and gave the company a “sector perform” rating in a report on Wednesday, August 12th. Canadian Imperial Bank of Commerce set a $25.00 price target on Iamgold in a research report on Friday, October 16th. Finally, Wall Street Zen downgraded Iamgold from a “buy” rating to a “hold” rating in a research note on Saturday, September 19th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $22.71.
Read Our Latest Stock Report on IAG
About Iamgold
IAMGOLD Corporation is a Canadian gold mining company that explores for, develops and operates mineral properties. Its business is focused primarily on producing gold, with operations in Canada and Burkina Faso.
The company’s assets include the Côté Gold mine in Ontario, the Westwood mine in Quebec and the Essakane mine in Burkina Faso. IAMGOLD also conducts exploration and development work to support its operating mines and assess potential mineral resources.
Founded in 1990, IAMGOLD has built a portfolio spanning North America and West Africa.
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