Vanguard Group Inc. Has $34.62 Million Stake in Iamgold Corporation (IAG)
Vanguard Group Inc. increased its stake in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 3.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,653,597 shares of the mining company’s stock after buying an additional 326,515 shares during the period. Vanguard Group Inc.’s holdings in Iamgold Corporation were worth $34,615,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp increased its position in shares of Iamgold Corporation by 3.5% in the first quarter. Van ECK Associates Corp now owns 85,304,445 shares of the mining company’s stock valued at $341,218,000 after buying an additional 2,911,229 shares in the last quarter. TD Asset Management Inc. increased its position in shares of Iamgold Corporation by 19.3% in the first quarter. TD Asset Management Inc. now owns 3,901,428 shares of the mining company’s stock valued at $15,563,000 after buying an additional 630,400 shares in the last quarter. Heartland Advisors Inc. increased its position in shares of Iamgold Corporation by 6.6% in the first quarter. Heartland Advisors Inc. now owns 3,516,250 shares of the mining company’s stock valued at $14,066,000 after buying an additional 216,300 shares in the last quarter. Hexavest Inc. increased its position in shares of Iamgold Corporation by 73.5% in the first quarter. Hexavest Inc. now owns 3,132,492 shares of the mining company’s stock valued at $12,530,000 after buying an additional 1,327,157 shares in the last quarter. Finally, Zweig DiMenna Associates LLC bought a new position in shares of Iamgold Corporation during the first quarter valued at approximately $8,468,000. Institutional investors and hedge funds own 57.32% of the company’s stock.
Shares of Iamgold Corporation (IAG) traded down 1.11% during trading on Tuesday, hitting $5.36. The company had a trading volume of 795,305 shares. The stock’s market capitalization is $2.49 billion. The firm’s 50 day moving average is $5.20 and its 200-day moving average is $4.55. Iamgold Corporation has a 52 week low of $3.14 and a 52 week high of $5.71.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Wednesday, August 9th. The mining company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01. Iamgold Corporation had a return on equity of 1.43% and a net margin of 46.75%. The firm had revenue of $274.50 million for the quarter, compared to the consensus estimate of $267.07 million. During the same period in the prior year, the business posted $0.01 earnings per share. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. Equities research analysts anticipate that Iamgold Corporation will post $0.04 EPS for the current fiscal year.
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IAG has been the subject of a number of research analyst reports. Zacks Investment Research downgraded Iamgold Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. ValuEngine upgraded Iamgold Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, May 23rd. Credit Suisse Group upgraded Iamgold Corporation from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $4.50 to $5.00 in a research report on Wednesday, May 10th. Royal Bank Of Canada set a $6.00 price target on Iamgold Corporation and gave the company a “hold” rating in a research report on Thursday, June 8th. Finally, BidaskClub upgraded Iamgold Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Nine research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $5.88.
Iamgold Corporation Company 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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