2,613,564 Shares in Iamgold Corporation $IAG Bought by Deutsche Bank AG

Deutsche Bank AG bought a new stake in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the second quarter, Holdings Channel.com reports. The institutional investor bought 2,613,564 shares of the mining company’s stock, valued at approximately $41,399,000.

Other large investors have also modified their holdings of the company. Mariner LLC increased its position in shares of Iamgold by 0.6% in the 4th quarter. Mariner LLC now owns 110,033 shares of the mining company’s stock valued at $1,814,000 after acquiring an additional 615 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position in Iamgold by 1.9% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 37,000 shares of the mining company’s stock worth $612,000 after acquiring an additional 700 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Iamgold by 73.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,712 shares of the mining company’s stock worth $51,000 after purchasing an additional 1,150 shares during the period. Public Employees Retirement System of Ohio lifted its stake in Iamgold by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 220,452 shares of the mining company’s stock valued at $2,849,000 after acquiring an additional 1,303 shares during the period. Finally, Northwest & Ethical Investments L.P. boosted its holdings in shares of Iamgold by 0.4% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 343,605 shares of the mining company’s stock valued at $5,716,000 after acquiring an additional 1,424 shares during the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Iamgold Price Performance

Shares of IAG opened at $21.11 on Friday. The firm’s 50 day moving average price is $16.27 and its 200 day moving average price is $18.01. The company has a market cap of $12.12 billion, a P/E ratio of 10.66, a PEG ratio of 1.09 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. Iamgold Corporation has a fifty-two week low of $8.29 and a fifty-two week high of $24.87.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Thursday, August 6th. The mining company reported $0.42 earnings per share for the quarter, hitting 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 for the quarter, compared to the consensus estimate of $882.92 million. On average, research analysts forecast that Iamgold Corporation will post 1.91 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on IAG shares. Bank of America reduced their price objective on Iamgold from $22.50 to $21.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Royal Bank Of Canada lowered their target price on shares of Iamgold from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Weiss Ratings cut Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Scotiabank boosted their price objective on Iamgold from $22.00 to $23.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 12th. Finally, Wall Street Zen upgraded Iamgold from a “hold” rating to a “buy” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.00.

About Iamgold

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.