State of Wyoming Takes Position in Iamgold Corporation $IAG

State of Wyoming bought a new position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) during the second quarter, HoldingsChannel.com reports. The firm bought 35,824 shares of the mining company’s stock, valued at approximately $568,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mariner LLC raised its holdings in 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 last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its holdings in shares of Iamgold by 1.9% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 37,000 shares of the mining company’s stock worth $612,000 after purchasing an additional 700 shares during the last quarter. EverSource Wealth Advisors LLC grew its position in shares of Iamgold by 73.6% in the first quarter. EverSource Wealth Advisors LLC now owns 2,712 shares of the mining company’s stock valued at $51,000 after purchasing an additional 1,150 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of Iamgold by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 220,452 shares of the mining company’s stock valued at $2,849,000 after purchasing an additional 1,303 shares during the period. Finally, Northwest & Ethical Investments L.P. increased its stake in Iamgold by 0.4% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 343,605 shares of the mining company’s stock valued at $5,716,000 after purchasing an additional 1,424 shares during the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

Iamgold Price Performance

Shares of Iamgold stock opened at $18.30 on Monday. Iamgold Corporation has a twelve month low of $7.89 and a twelve month high of $24.87. The stock has a market capitalization of $10.51 billion, a P/E ratio of 9.24, a PEG ratio of 0.97 and a beta of 1.32. The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 0.10. The business’s fifty day moving average price is $15.87 and its 200 day moving average price is $18.02.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Thursday, August 6th. The mining company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The firm had revenue of $845.97 million during the quarter, compared to the consensus estimate of $882.92 million. Iamgold had a return on equity of 28.97% and a net margin of 31.40%. As a group, research analysts anticipate that Iamgold Corporation will post 1.91 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have issued reports on IAG shares. Scotiabank raised their price target on Iamgold from $22.00 to $23.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 12th. Wall Street Zen downgraded shares of Iamgold from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Royal Bank Of Canada cut their price objective on shares of Iamgold from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Weiss Ratings cut shares of Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Finally, Bank of America lowered their target price on shares of Iamgold from $22.50 to $21.00 and set a “buy” rating for the company in a report on Thursday, July 9th. One analyst has 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 has an average rating of “Moderate Buy” and an average target price of $19.20.

Iamgold Profile

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.