Allspring Global Investments Holdings LLC Increases Stake in Iamgold Corporation $IAG

Allspring Global Investments Holdings LLC boosted its stake in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 2.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,018,000 shares of the mining company’s stock after purchasing an additional 100,700 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.69% of Iamgold worth $75,574,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Pin Oak Investment Advisors Inc. acquired a new position in shares of Iamgold in the 4th quarter valued at $30,000. Global Retirement Partners LLC acquired a new stake in shares of Iamgold during the fourth quarter worth about $33,000. FNY Investment Advisers LLC purchased a new stake in Iamgold in the fourth quarter valued at approximately $38,000. LOM Asset Management Ltd acquired a new position in Iamgold in the 4th quarter worth approximately $49,000. Finally, Banque Cantonale Vaudoise increased its holdings in Iamgold by 617.8% in the 4th quarter. Banque Cantonale Vaudoise now owns 2,986 shares of the mining company’s stock worth $49,000 after buying an additional 2,570 shares during the period. Institutional investors and hedge funds own 47.08% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on IAG shares. Scotiabank decreased their price objective on shares of Iamgold from $25.00 to $22.00 and set a “sector perform” rating for the company in a research note on Tuesday. Royal Bank Of Canada reduced their target price on shares of Iamgold from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Weiss Ratings downgraded shares of Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Bank of America lowered their price target on shares of Iamgold from $22.50 to $21.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Finally, Zacks Research downgraded Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Iamgold Trading Down 0.5%

Shares of NYSE:IAG opened at $14.12 on Friday. The business’s 50 day moving average price is $16.46 and its 200-day moving average price is $18.30. Iamgold Corporation has a 1 year low of $6.69 and a 1 year high of $24.87. The firm has a market capitalization of $8.11 billion, a price-to-earnings ratio of 8.21, a price-to-earnings-growth ratio of 0.61 and a beta of 1.30. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.89 and a quick ratio of 1.21.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.14. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $955.17 million. Iamgold had a net margin of 29.49% and a return on equity of 26.65%. On average, equities research analysts forecast that Iamgold Corporation will post 2.05 earnings per share for the current fiscal year.

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.