524,634 Shares in Iamgold Corporation (IAG) Purchased by Sanctuary Wealth Advisors LLC
Sanctuary Wealth Advisors LLC purchased a new position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 524,634 shares of the mining company’s stock, valued at approximately $3,200,000. Sanctuary Wealth Advisors LLC owned 0.11% of Iamgold Corporation at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IAG. Raymond James Financial Services Advisors Inc. grew its holdings in shares of Iamgold Corporation by 102.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 21,299 shares of the mining company’s stock worth $110,000 after acquiring an additional 10,773 shares during the period. Quantbot Technologies LP purchased a new position in shares of Iamgold Corporation during the 2nd quarter worth $131,000. Acadian Asset Management LLC purchased a new position in shares of Iamgold Corporation during the 2nd quarter worth $137,000. Alliancebernstein L.P. lifted its stake in shares of Iamgold Corporation by 171.9% during the 2nd quarter. Alliancebernstein L.P. now owns 32,900 shares of the mining company’s stock worth $170,000 after purchasing an additional 20,800 shares during the period. Finally, Advisor Group Inc. lifted its stake in shares of Iamgold Corporation by 2.3% during the 2nd quarter. Advisor Group Inc. now owns 33,950 shares of the mining company’s stock worth $175,000 after purchasing an additional 750 shares during the period. Institutional investors and hedge funds own 54.13% of the company’s stock.
Shares of Iamgold Corporation (NYSE:IAG) traded down $0.12 during trading on Monday, hitting $5.91. The stock had a trading volume of 4,657,400 shares, compared to its average volume of 7,153,909. The company has a quick ratio of 3.85, a current ratio of 4.78 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $2,670.00, a P/E ratio of 59.10, a PEG ratio of 29.19 and a beta of -0.53. Iamgold Corporation has a 12 month low of $3.16 and a 12 month high of $7.25.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last announced its earnings results on Tuesday, November 7th. The mining company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.05. The company had revenue of $268.80 million during the quarter, compared to the consensus estimate of $268.62 million. Iamgold Corporation had a return on equity of 1.81% and a net margin of 48.66%. The company’s revenue was down 4.8% on a year-over-year basis. During the same period last year, the firm earned $0.05 earnings per share. sell-side analysts expect that Iamgold Corporation will post 0.07 earnings per share for the current year.
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A number of research analysts have weighed in on IAG shares. Zacks Investment Research raised Iamgold Corporation from a “hold” rating to a “buy” rating and set a $5.75 price target on the stock in a research note on Monday, July 17th. Credit Suisse Group set a $6.00 price target on Iamgold Corporation and gave the stock a “hold” rating in a research note on Tuesday, July 18th. Royal Bank Of Canada reduced their price target on Iamgold Corporation from $6.50 to $6.00 and set a “sector perform” rating on the stock in a research note on Friday, July 28th. Scotiabank increased their target price on Iamgold Corporation from $5.75 to $6.25 and gave the stock a “sector perform” rating in a research report on Tuesday, August 1st. Finally, ValuEngine raised Iamgold Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $7.10.
About Iamgold Corporation
IAMGOLD Corporation (IAMGOLD) is engaged primarily in the exploration for, and the development and production of, mineral resource properties throughout the world. Through its holdings, IAMGOLD has interests in various operations, exploration and development properties. IAMGOLD is a mid-tier mining company with approximately four operating gold mines on over three continents.
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