Asset One Wealth Management LLC Makes New $1.95 Million Investment in Iamgold Corporation $IAG

Asset One Wealth Management LLC purchased a new position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 107,423 shares of the mining company’s stock, valued at approximately $1,954,000.

Several other institutional investors have also recently made changes to their positions in the stock. Rathbones Group PLC increased its position in shares of Iamgold by 1,037,042.8% during the 4th quarter. Rathbones Group PLC now owns 418,901,982 shares of the mining company’s stock worth $6,907,694,000 after purchasing an additional 418,861,592 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Iamgold by 35.7% during the 3rd quarter. Van ECK Associates Corp now owns 51,992,067 shares of the mining company’s stock worth $672,253,000 after purchasing an additional 13,691,148 shares during the last quarter. FIL Ltd increased its position in shares of Iamgold by 124.0% during the 4th quarter. FIL Ltd now owns 36,367,149 shares of the mining company’s stock worth $600,135,000 after purchasing an additional 20,134,496 shares during the last quarter. Vanguard Group Inc. increased its position 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 purchasing an additional 1,068,465 shares during the last quarter. Finally, Bank of America Corp DE increased its position in shares of Iamgold by 16.4% during the 3rd quarter. Bank of America Corp DE now owns 11,194,505 shares of the mining company’s stock worth $144,745,000 after purchasing an additional 1,581,064 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Iamgold Stock Performance

NYSE IAG opened at $17.53 on Thursday. The firm has a 50-day moving average of $17.60 and a 200-day moving average of $18.37. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.89. The stock has a market cap of $10.13 billion, a PE ratio of 10.19, a P/E/G ratio of 0.87 and a beta of 1.25. Iamgold Corporation has a 52-week low of $6.69 and a 52-week high of $24.87.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $955.17 million. Iamgold had a net margin of 29.49% and a return on equity of 26.65%. On average, sell-side analysts anticipate that Iamgold Corporation will post 2.27 EPS for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on IAG shares. Weiss Ratings lowered Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Scotiabank lifted their target price on Iamgold to $25.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 25th. TD Securities reiterated a “buy” rating on shares of Iamgold in a research note on Thursday, February 19th. Zacks Research downgraded Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, Wall Street Zen upgraded Iamgold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Iamgold has an average rating of “Moderate Buy” and an average price target of $17.75.

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.