Bank of New York Mellon Corp raised its position in Iamgold Corp (NYSE:IAG) (TSE:IMG) by 5.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 3,148,690 shares of the mining company’s stock after acquiring an additional 173,483 shares during the period. Bank of New York Mellon Corp owned approximately 0.67% of Iamgold worth $12,437,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. HighTower Advisors LLC bought a new position in shares of Iamgold in the first quarter valued at approximately $25,000. Cutler Group LP bought a new position in shares of Iamgold in the second quarter valued at approximately $31,000. Pictet Asset Management Ltd. bought a new position in shares of Iamgold in the first quarter valued at approximately $32,000. Two Sigma Securities LLC bought a new position in shares of Iamgold in the first quarter valued at approximately $39,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new position in shares of Iamgold in the second quarter valued at approximately $57,000. Institutional investors own 51.14% of the company’s stock.

Shares of NYSE:IAG opened at $4.25 on Wednesday. The company has a quick ratio of 3.19, a current ratio of 4.28 and a debt-to-equity ratio of 0.19. The firm has a market capitalization of $2.01 billion, a PE ratio of -5.38, a P/E/G ratio of 5.00 and a beta of 0.97. Iamgold Corp has a twelve month low of $1.44 and a twelve month high of $5.35. The company has a 50-day moving average price of $4.39 and a two-hundred day moving average price of $3.65.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its earnings results on Wednesday, August 5th. The mining company reported $0.04 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.04. The firm had revenue of $284.60 million during the quarter. Iamgold had a negative net margin of 32.46% and a positive return on equity of 0.47%. Analysts anticipate that Iamgold Corp will post 0.27 earnings per share for the current fiscal year.

A number of research firms have recently weighed in on IAG. Raymond James set a $5.50 target price on Iamgold and gave the company a “market perform” rating in a report on Friday, August 7th. Bank of America lowered Iamgold from a “buy” rating to an “underperform” rating and decreased their target price for the company from $6.25 to $4.50 in a research report on Friday, August 7th. Canaccord Genuity reiterated a “hold” rating and set a $7.50 target price on shares of Iamgold in a research note on Thursday, August 6th. TD Securities increased their price target on shares of Iamgold from $8.00 to $9.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, National Bank Financial restated a “buy” rating and set a $8.25 price objective on shares of Iamgold in a report on Tuesday, August 18th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $5.47.

Iamgold Company Profile

IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine in Burkina Faso, West Africa; the Westwood mine in Quebec, Canada; and the Sadiola mine located in Mali, West Africa.

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Institutional Ownership by Quarter for Iamgold (NYSE:IAG)

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