1,190,000 Shares in Iamgold Corporation $IAG Acquired by Winmill & CO. Inc.

Winmill & CO. Inc. purchased a new position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 1,190,000 shares of the mining company’s stock, valued at approximately $18,850,000. Iamgold comprises about 4.2% of Winmill & CO. Inc.’s investment portfolio, making the stock its 7th largest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Royal Bank of Canada increased its stake in shares of Iamgold by 14.0% in the first quarter. Royal Bank of Canada now owns 691,322 shares of the mining company’s stock valued at $4,321,000 after buying an additional 84,939 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Iamgold by 6.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,420,263 shares of the mining company’s stock worth $15,127,000 after acquiring an additional 144,160 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Iamgold by 67.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,005,292 shares of the mining company’s stock valued at $6,283,000 after acquiring an additional 404,645 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Iamgold by 64.1% in the second quarter. JPMorgan Chase & Co. now owns 228,257 shares of the mining company’s stock worth $1,678,000 after acquiring an additional 89,197 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Iamgold by 16.9% in the second quarter. The Manufacturers Life Insurance Company now owns 532,137 shares of the mining company’s stock worth $3,899,000 after acquiring an additional 77,016 shares during the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Jefferies Financial Group began coverage on shares of Iamgold in a report on Thursday. They issued a “buy” rating and a $24.00 price target for the company. Bank of America reduced their price objective on Iamgold from $22.50 to $21.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Royal Bank Of Canada lowered their target price on Iamgold from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Scotiabank boosted their target price on Iamgold from $22.00 to $23.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings lowered Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th. One equities research 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 presently has an average rating of “Moderate Buy” and an average target price of $20.00.

Iamgold Price Performance

Shares of IAG stock opened at $21.11 on Monday. Iamgold Corporation has a 52-week low of $8.29 and a 52-week high of $24.87. The stock has a market cap of $12.12 billion, a PE ratio of 10.66, a PEG ratio of 1.12 and a beta of 1.32. 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 firm’s 50 day moving average price is $16.27 and its two-hundred day moving average price is $18.01.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its earnings results on Thursday, August 6th. The mining company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $845.97 million during the quarter, compared to analysts’ expectations of $882.92 million. Iamgold had a net margin of 31.40% and a return on equity of 28.97%. As a group, analysts forecast that Iamgold Corporation will post 1.92 EPS for the current year.

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.