DJE Kapital AG Lowers Stock Holdings in Iamgold Corporation $IAG

DJE Kapital AG reduced its position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 15.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 237,900 shares of the mining company’s stock after selling 42,800 shares during the quarter. DJE Kapital AG’s holdings in Iamgold were worth $1,715,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. acquired a new position in Iamgold during the first quarter worth $45,911,000. Nuveen LLC acquired a new position in Iamgold during the first quarter worth about $20,620,000. Anson Funds Management LP lifted its stake in Iamgold by 2,100.0% in the 1st quarter. Anson Funds Management LP now owns 3,300,000 shares of the mining company’s stock valued at $20,598,000 after buying an additional 3,150,000 shares in the last quarter. Ninety One UK Ltd lifted its position in shares of Iamgold by 127.7% in the second quarter. Ninety One UK Ltd now owns 5,347,405 shares of the mining company’s stock valued at $39,303,000 after acquiring an additional 2,998,882 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in Iamgold by 19.0% in the 1st quarter. American Century Companies Inc. now owns 12,092,101 shares of the mining company’s stock valued at $75,489,000 after purchasing an additional 1,929,787 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Iamgold Trading Up 5.3%

IAG opened at $12.68 on Friday. The stock has a market capitalization of $7.30 billion, a PE ratio of 9.12, a P/E/G ratio of 0.39 and a beta of 1.22. The firm’s fifty day moving average price is $11.92 and its 200 day moving average price is $8.93. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.47 and a quick ratio of 0.76. Iamgold Corporation has a 12-month low of $4.89 and a 12-month high of $14.67.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. Iamgold had a return on equity of 8.54% and a net margin of 40.61%.The business had revenue of $714.61 million during the quarter, compared to the consensus estimate of $759.45 million. As a group, research analysts expect that Iamgold Corporation will post 0.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on IAG shares. Raymond James Financial increased their price target on Iamgold from $9.00 to $13.00 and gave the stock a “market perform” rating in a research note on Friday, October 10th. Scotiabank lifted their target price on Iamgold from $8.50 to $15.00 and gave the company a “sector perform” rating in a report on Thursday, October 23rd. CIBC upped their price target on Iamgold from $10.40 to $19.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Royal Bank Of Canada upgraded Iamgold from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $9.00 to $14.00 in a report on Wednesday, September 10th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Iamgold in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Iamgold currently has an average rating of “Buy” and an average price target of $15.25.

About Iamgold

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.