Iamgold Corporation $IAG Shares Acquired by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership increased its position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 12.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,917,319 shares of the mining company’s stock after purchasing an additional 2,302,527 shares during the quarter. Arrowstreet Capital Limited Partnership owned 3.64% of Iamgold worth $154,046,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Parallel Advisors LLC boosted its holdings in shares of Iamgold by 272.9% in the 2nd quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company’s stock valued at $26,000 after acquiring an additional 2,623 shares during the last quarter. Hsbc Holdings PLC lifted its position in Iamgold by 17.8% during the first quarter. Hsbc Holdings PLC now owns 19,973 shares of the mining company’s stock valued at $125,000 after purchasing an additional 3,020 shares during the period. Measured Wealth Private Client Group LLC lifted its position in Iamgold by 4.0% during the second quarter. Measured Wealth Private Client Group LLC now owns 89,293 shares of the mining company’s stock valued at $656,000 after purchasing an additional 3,396 shares during the period. Vanguard Personalized Indexing Management LLC boosted its holdings in Iamgold by 10.7% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 36,901 shares of the mining company’s stock valued at $271,000 after purchasing an additional 3,562 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. grew its position in Iamgold by 2.9% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 184,612 shares of the mining company’s stock worth $1,357,000 after purchasing an additional 5,209 shares during the period. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Iamgold Stock Down 2.6%

Shares of IAG opened at $14.98 on Wednesday. The company has a current ratio of 1.47, a quick ratio of 0.76 and a debt-to-equity ratio of 0.31. The firm has a market cap of $8.62 billion, a P/E ratio of 10.78, a PEG ratio of 0.39 and a beta of 1.38. The stock’s 50 day moving average is $13.11 and its two-hundred day moving average is $9.82. Iamgold Corporation has a 12 month low of $4.98 and a 12 month high of $15.80.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. The firm had revenue of $714.61 million for the quarter, compared to analysts’ expectations of $759.45 million. Iamgold had a net margin of 40.61% and a return on equity of 8.54%. Analysts predict that Iamgold Corporation will post 0.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Weiss Ratings reissued a “buy (b)” rating on shares of Iamgold in a report on Wednesday, October 8th. CIBC upped their price objective on Iamgold from $10.40 to $19.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Stifel Canada raised shares of Iamgold from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Scotiabank increased their price target on shares of Iamgold from $8.50 to $15.00 and gave the stock a “sector perform” rating in a report on Thursday, October 23rd. Finally, Raymond James Financial raised their price target on shares of Iamgold from $9.00 to $13.00 and gave the company a “market perform” rating in a research report on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Iamgold has a consensus rating of “Moderate Buy” and a consensus price target of $15.25.

Iamgold 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.