Janus Henderson Group PLC Acquires Shares of 694,233 Iamgold Corporation $IAG

Janus Henderson Group PLC bought a new stake in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 694,233 shares of the mining company’s stock, valued at approximately $13,056,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. FIL Ltd increased its stake 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 worth $600,135,000 after acquiring an additional 20,134,496 shares in the last quarter. Vanguard Group Inc. lifted its position in Iamgold by 4.7% during 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 boosted its stake in Iamgold by 16.4% during the third 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. Ninety One UK Ltd boosted its stake in Iamgold by 22.3% during the fourth 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. Finally, Picton Mahoney Asset Management grew its holdings in Iamgold by 29.2% in the fourth quarter. Picton Mahoney Asset Management now owns 5,028,974 shares of the mining company’s stock worth $83,106,000 after purchasing an additional 1,135,552 shares during the period. 47.08% of the stock is owned by hedge funds and other institutional investors.

Iamgold Price Performance

Shares of NYSE:IAG opened at $14.81 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.89. The firm has a market cap of $8.51 billion, a price-to-earnings ratio of 8.61, a price-to-earnings-growth ratio of 0.66 and a beta of 1.32. The business has a 50-day simple moving average of $15.77 and a two-hundred day simple moving average of $18.11. Iamgold Corporation has a fifty-two week low of $7.07 and a fifty-two week high of $24.87.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. Iamgold had a net margin of 29.49% and a return on equity of 26.65%. The firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $955.17 million. On average, analysts expect that Iamgold Corporation will post 1.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Scotiabank decreased their target price on shares of Iamgold from $25.00 to $22.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. Weiss Ratings cut Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Bank of America cut their price target 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 price objective on Iamgold from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Finally, Wall Street Zen cut Iamgold from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $19.00.

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.