ARP Americas LLC Buys 24,800 Shares of Iamgold Corporation (IAG)
ARP Americas LLC increased its stake in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 62.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,200 shares of the mining company’s stock after buying an additional 24,800 shares during the quarter. ARP Americas LLC’s holdings in Iamgold Corporation were worth $393,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in IAG. Comerica Bank grew its holdings in Iamgold Corporation by 1.9% during the first quarter. Comerica Bank now owns 25,820 shares of the mining company’s stock worth $104,000 after buying an additional 485 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in Iamgold Corporation by 102.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 21,299 shares of the mining company’s stock worth $110,000 after buying an additional 10,773 shares in the last quarter. Sprott Inc. bought a new stake in Iamgold Corporation during the second quarter worth $114,000. Quantbot Technologies LP bought a new stake in Iamgold Corporation during the second quarter worth $131,000. Finally, Acadian Asset Management LLC bought a new stake in Iamgold Corporation during the second quarter worth $137,000. Institutional investors and hedge funds own 56.16% of the company’s stock.
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IAG has been the subject of several recent research reports. Zacks Investment Research downgraded Iamgold Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub upgraded Iamgold Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 19th. BMO Capital Markets reiterated a “buy” rating and set a $8.00 price target on shares of Iamgold Corporation in a report on Monday, October 2nd. ValuEngine upgraded Iamgold Corporation from a “sell” rating to a “hold” rating in a report on Thursday, August 17th. Finally, Royal Bank Of Canada decreased their price target on Iamgold Corporation from $6.50 to $6.00 and set a “sector perform” rating for the company in a report on Friday, July 28th. Eight equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $7.23.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last posted its earnings results on Wednesday, August 9th. The mining company reported $0.01 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.01. The business had revenue of $274.50 million during the quarter, compared to analyst estimates of $267.07 million. Iamgold Corporation had a return on equity of 1.43% and a net margin of 46.75%. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.01 EPS.
Iamgold Corporation Profile
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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