Public Employees Retirement System of Ohio Invests $3.70 Million in Iamgold Corporation $IAG

Public Employees Retirement System of Ohio purchased a new stake in Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 233,649 shares of the mining company’s stock, valued at approximately $3,699,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. FIL Ltd increased its holdings in Iamgold by 124.0% in the 4th quarter. FIL Ltd now owns 36,367,149 shares of the mining company’s stock valued at $600,135,000 after buying an additional 20,134,496 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Iamgold by 4.7% during the 4th quarter. Vanguard Group Inc. now owns 23,836,156 shares of the mining company’s stock worth $393,328,000 after acquiring an additional 1,068,465 shares during the period. BlackRock Inc. acquired a new stake in shares of Iamgold during the 2nd quarter worth approximately $350,145,000. Donald Smith & CO. Inc. acquired a new stake in shares of Iamgold during the 2nd quarter worth approximately $206,146,000. Finally, Bank of America Corp DE increased its stake in Iamgold by 16.4% in the third quarter. Bank of America Corp DE now owns 11,194,505 shares of the mining company’s stock valued at $144,745,000 after acquiring an additional 1,581,064 shares during the last quarter. Institutional investors own 47.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on IAG shares. Jefferies Financial Group started coverage on Iamgold in a research note on Thursday, August 20th. They set a “buy” rating and a $24.00 target price for the company. Wall Street Zen raised Iamgold from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. Bank of America dropped their price objective on Iamgold from $22.50 to $21.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Weiss Ratings lowered Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th. Finally, Scotiabank lifted their target price on Iamgold from $22.00 to $23.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $20.00.

Iamgold Stock Up 3.9%

Shares of IAG opened at $20.99 on Friday. Iamgold Corporation has a 52 week low of $9.28 and a 52 week high of $24.87. The stock has a market capitalization of $11.99 billion, a price-to-earnings ratio of 10.60, a PEG ratio of 1.07 and a beta of 1.40. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.05 and a current ratio of 1.71. The stock has a fifty day moving average of $17.01 and a 200-day moving average of $18.05.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Thursday, August 6th. The mining company reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. Iamgold had a return on equity of 28.97% and a net margin of 31.40%.The business had revenue of $845.97 million for the quarter, compared to analyst estimates of $882.92 million. As a group, sell-side analysts anticipate that Iamgold Corporation will post 1.92 earnings per share for the current fiscal year.

Iamgold Company 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.