Vanguard Personalized Indexing Management LLC Raises Position in Iamgold Corporation $IAG

Vanguard Personalized Indexing Management LLC grew its holdings in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 10.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,901 shares of the mining company’s stock after purchasing an additional 3,562 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Iamgold were worth $271,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in IAG. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Iamgold during the 1st quarter worth $45,911,000. Nuveen LLC acquired a new stake in shares of Iamgold during the 1st quarter worth $20,620,000. Anson Funds Management LP increased its holdings in shares of Iamgold by 2,100.0% during the 1st quarter. Anson Funds Management LP now owns 3,300,000 shares of the mining company’s stock worth $20,598,000 after buying an additional 3,150,000 shares during the last quarter. Ninety One UK Ltd increased its holdings in shares of Iamgold by 127.7% during the 2nd quarter. Ninety One UK Ltd now owns 5,347,405 shares of the mining company’s stock worth $39,303,000 after buying an additional 2,998,882 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in shares of Iamgold by 19.0% during the 1st quarter. American Century Companies Inc. now owns 12,092,101 shares of the mining company’s stock worth $75,489,000 after buying an additional 1,929,787 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Iamgold Stock Performance

Shares of IAG stock opened at $11.88 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.76 and a current ratio of 1.47. Iamgold Corporation has a one year low of $4.89 and a one year high of $14.67. The company’s 50-day simple moving average is $11.32 and its 200-day simple moving average is $8.59. The stock has a market capitalization of $6.83 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 0.43 and a beta of 1.24.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Thursday, August 7th. The mining company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01). Iamgold had a return on equity of 8.54% and a net margin of 40.61%.The company had revenue of $587.21 million for the quarter, compared to the consensus estimate of $663.21 million. Equities analysts anticipate that Iamgold Corporation will post 0.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on IAG shares. Raymond James Financial upped their price objective on Iamgold from $9.00 to $13.00 and gave the stock a “market perform” rating in a report on Friday, October 10th. Stifel Canada upgraded Iamgold from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Royal Bank Of Canada upgraded Iamgold from a “sector perform” rating to an “outperform” rating and increased their price target for the company from $9.00 to $14.00 in a report on Wednesday, September 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Iamgold in a report on Wednesday, October 8th. Finally, Scotiabank increased their price target on Iamgold from $8.50 to $15.00 and gave the company a “sector perform” rating in a report on Thursday. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Iamgold presently has an average rating of “Buy” and a consensus price target of $15.25.

Iamgold Company Profile

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.