Public Sector Pension investment Board reduced its position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 9.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,574,701 shares of the mining company’s stock after selling 257,800 shares during the period. Public Sector Pension investment Board owned approximately 0.55% of Iamgold Corporation worth $13,263,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in IAG. Comerica Bank raised its holdings in shares of Iamgold Corporation by 1.9% during the 1st quarter. Comerica Bank now owns 25,820 shares of the mining company’s stock valued at $104,000 after buying an additional 485 shares during the period. World Asset Management Inc raised its holdings in shares of Iamgold Corporation by 3.9% during the 1st quarter. World Asset Management Inc now owns 27,537 shares of the mining company’s stock valued at $110,000 after buying an additional 1,040 shares during the period. Sprott Inc. purchased a new stake in shares of Iamgold Corporation during the 2nd quarter valued at about $114,000. Acadian Asset Management LLC purchased a new stake in shares of Iamgold Corporation during the 2nd quarter valued at about $137,000. Finally, Alliancebernstein L.P. raised its holdings in shares of Iamgold Corporation by 171.9% during the 2nd quarter. Alliancebernstein L.P. now owns 32,900 shares of the mining company’s stock valued at $170,000 after buying an additional 20,800 shares during the period. 56.35% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages recently commented on IAG. CIBC upgraded Iamgold Corporation from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $6.93 to $7.00 in a report on Wednesday, September 6th. Raymond James Financial, Inc. raised their target price on Iamgold Corporation from $6.00 to $7.25 and gave the company a “market perform” rating in a report on Thursday, September 7th. Scotiabank lifted their price objective on Iamgold Corporation from $6.25 to $7.00 and gave the stock a “sector perform” rating in a report on Friday, September 15th. Royal Bank Of Canada set a $7.00 price objective on Iamgold Corporation and gave the stock a “hold” rating in a report on Tuesday, August 29th. Finally, BMO Capital Markets upgraded Iamgold Corporation from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $6.00 to $7.50 in a report on Tuesday, August 22nd. Seven equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Iamgold Corporation presently has a consensus rating of “Hold” and an average target price of $6.82.
Shares of Iamgold Corporation (NYSE:IAG) traded up 0.16% on Thursday, hitting $6.22. The stock had a trading volume of 1,432,693 shares. The stock has a market cap of $2.89 billion, a P/E ratio of 5.67 and a beta of -0.40. Iamgold Corporation has a 1-year low of $3.14 and a 1-year high of $7.25. The firm’s 50-day moving average is $6.08 and its 200 day moving average is $4.89.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last issued its earnings results on Wednesday, August 9th. The mining company reported $0.01 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.01. Iamgold Corporation had a return on equity of 1.43% and a net margin of 46.75%. The business had revenue of $274.50 million during the quarter, compared to analysts’ expectations of $267.07 million. During the same period in the prior year, the firm posted $0.01 EPS. Iamgold Corporation’s quarterly revenue was up 18.1% compared to the same quarter last year. Equities analysts forecast that Iamgold Corporation will post $0.05 EPS for the current year.
COPYRIGHT VIOLATION NOTICE: “Iamgold Corporation (IAG) Shares Sold by Public Sector Pension investment Board” was originally published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece of content on another publication, it was stolen and reposted in violation of US & international trademark and copyright laws. The original version of this piece of content can be viewed at https://ledgergazette.com/2017/09/21/iamgold-corporation-iag-shares-sold-by-public-sector-pension-investment-board.html.
Iamgold Corporation Profile
IAMGOLD Corporation (IAMGOLD) is engaged primarily in the exploration for, and the development and production of, mineral resource properties throughout the world. Through its holdings, IAMGOLD has interests in various operations, exploration and development properties. IAMGOLD is a mid-tier mining company with approximately four operating gold mines on over three continents.
Want to see what other hedge funds are holding IAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Iamgold Corporation (NYSE:IAG) (TSE:IMG).
Receive News & Ratings for Iamgold Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iamgold Corporation and related companies with MarketBeat.com's FREE daily email newsletter.