Quantitative Investment Management LLC bought a new stake in Iamgold Corp. (NYSE:IAG) (TSE:IMG) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 275,200 shares of the mining company’s stock, valued at approximately $1,114,000. Quantitative Investment Management LLC owned about 0.07% of Iamgold Corp. at the end of the most recent reporting period.
Other large investors also recently added to or reduced their stakes in the company. Commerzbank Aktiengesellschaft FI boosted its stake in Iamgold Corp. by 514.8% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 2,758,496 shares of the mining company’s stock valued at $11,420,000 after buying an additional 2,309,796 shares in the last quarter. Gabelli Funds LLC bought a new stake in Iamgold Corp. during the second quarter valued at about $6,127,000. Alps Advisors Inc. boosted its stake in Iamgold Corp. by 7.9% in the second quarter. Alps Advisors Inc. now owns 1,446,525 shares of the mining company’s stock valued at $5,989,000 after buying an additional 105,631 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in Iamgold Corp. by 38.3% in the second quarter. BNP Paribas Arbitrage SA now owns 217,253 shares of the mining company’s stock valued at $963,000 after buying an additional 60,188 shares in the last quarter. Finally, TD Asset Management Inc. boosted its stake in Iamgold Corp. by 90.0% in the second quarter. TD Asset Management Inc. now owns 3,445,585 shares of the mining company’s stock valued at $14,194,000 after buying an additional 1,632,400 shares in the last quarter. 48.24% of the stock is currently owned by institutional investors and hedge funds.
Shares of Iamgold Corp. (NYSE:IAG) traded up 1.39% during mid-day trading on Friday, hitting $3.64. 4,104,001 shares of the company were exchanged. The stock’s 50-day moving average price is $3.82 and its 200 day moving average price is $4.14. The stock’s market cap is $1.64 billion. Iamgold Corp. has a 12-month low of $1.15 and a 12-month high of $5.87.
Iamgold Corp. (NYSE:IAG) last issued its earnings results on Monday, November 7th. The mining company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The company had revenue of $282.40 million for the quarter, compared to the consensus estimate of $258.10 million. Iamgold Corp. had a negative return on equity of 2.05% and a negative net margin of 63.53%. The firm’s quarterly revenue was up 36.0% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.22) EPS. On average, equities analysts anticipate that Iamgold Corp. will post $0.03 EPS for the current fiscal year.
A number of brokerages have weighed in on IAG. National Bank Financial raised shares of Iamgold Corp. from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, October 19th. Zacks Investment Research cut shares of Iamgold Corp. from a “buy” rating to a “hold” rating in a research report on Tuesday, October 11th. Canaccord Genuity raised shares of Iamgold Corp. from a “hold” rating to a “buy” rating in a research report on Wednesday, October 19th. Credit Suisse Group AG began coverage on shares of Iamgold Corp. in a research report on Thursday, August 18th. They set a “neutral” rating and a $5.25 price target on the stock. Finally, RBC Capital Markets raised shares of Iamgold Corp. from an “underperform” rating to a “sector perform” rating and lifted their price target for the company from $5.50 to $6.50 in a research report on Monday, August 8th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $3.98.
Iamgold Corp. Company Profile
IAMGOLD Corporation (IAMGOLD) is engaged in the exploration, development and production of mineral resource properties across the world. Through its holdings, IAMGOLD has interests in various operations and exploration properties, as well as various royalty interests on mineral resource properties. All gold produced by IAMGOLD is in the form of dore bars, which is sold to gold refineries in North America and Europe.