Royal Bank of Canada Has $23.14 Million Position in Iamgold Corporation (IAG)

Royal Bank of Canada lifted its position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 496.5% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,484,298 shares of the mining company’s stock after purchasing an additional 3,732,543 shares during the quarter. Royal Bank of Canada owned about 0.96% of Iamgold Corporation worth $23,138,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sprott Inc. purchased a new stake in shares of Iamgold Corporation in the second quarter valued at about $114,000. Quantbot Technologies LP purchased a new stake in shares of Iamgold Corporation in the second quarter valued at about $131,000. Comerica Bank grew its holdings in shares of Iamgold Corporation by 1.9% in the first quarter. Comerica Bank now owns 25,820 shares of the mining company’s stock valued at $104,000 after purchasing an additional 485 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Iamgold Corporation in the second quarter valued at about $137,000. Finally, Alliancebernstein L.P. grew its holdings in shares of Iamgold Corporation by 171.9% in the second quarter. Alliancebernstein L.P. now owns 32,900 shares of the mining company’s stock valued at $170,000 after purchasing an additional 20,800 shares during the period. 56.35% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: “Royal Bank of Canada Has $23.14 Million Position in Iamgold Corporation (IAG)” was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another site, it was illegally stolen and republished in violation of United States & international trademark & copyright law. The legal version of this report can be read at https://ledgergazette.com/2017/10/11/royal-bank-of-canada-has-23-14-million-position-in-iamgold-corporation-iag.html.

A number of brokerages recently issued reports on IAG. CIBC raised shares of Iamgold Corporation from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $6.93 to $7.00 in a report on Wednesday, September 6th. Raymond James Financial, Inc. upped their price objective on shares of Iamgold Corporation from $6.00 to $7.25 and gave the company a “market perform” rating in a report on Thursday, September 7th. Scotiabank upped their price objective on shares of Iamgold Corporation from $6.25 to $7.00 and gave the company a “sector perform” rating in a report on Friday, September 15th. Canaccord Genuity lowered shares of Iamgold Corporation from a “buy” rating to a “hold” rating and set a $8.07 price objective for the company. in a report on Friday, September 29th. Finally, Royal Bank Of Canada set a $7.00 price objective on shares of Iamgold Corporation and gave the company a “hold” rating in a report on Tuesday, August 29th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $7.04.

Iamgold Corporation (NYSE:IAG) opened at 6.18 on Wednesday. The firm has a market cap of $2.87 billion, a PE ratio of 5.63 and a beta of -0.48. The firm has a 50-day moving average of $6.43 and a 200-day moving average of $5.16. Iamgold Corporation has a 52-week low of $3.16 and a 52-week high of $7.25.

Iamgold Corporation (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Wednesday, August 9th. The mining company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $274.50 million during the quarter, compared to analysts’ expectations of $267.07 million. Iamgold Corporation had a return on equity of 1.43% and a net margin of 46.75%. The firm’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the pre

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Sprott Inc. purchased a new stake in shares of Iamgold Corporation in the second quarter valued at about $114,000. Quantbot Technologies LP purchased a new stake in shares of Iamgold Corporation in the second quarter valued at about $131,000. Comerica Bank grew its holdings in shares of Iamgold Corporation by 1.9% in the first quarter. Comerica Bank now owns 25,820 shares of the mining company’s stock valued at $104,000 after purchasing an additional 485 shares during the period. Acadian Asset Management LLC purchased a new stake in shares of Iamgold Corporation in the second quarter valued at about $137,000. Finally, Alliancebernstein L.P. grew its holdings in shares of Iamgold Corporation by 171.9% in the second quarter. Alliancebernstein L.P. now owns 32,900 shares of the mining company’s stock valued at $170,000 after purchasing an additional 20,800 shares during the period. 56.35% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: “Royal Bank of Canada Has $23.14 Million Position in Iamgold Corporation (IAG)” was originally posted by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this report on another site, it was illegally stolen and republished in violation of United States & international trademark & copyright law. The legal version of this report can be read at https://ledgergazette.com/2017/10/11/royal-bank-of-canada-has-23-14-million-position-in-iamgold-corporation-iag.html.

A number of brokerages recently issued reports on IAG. CIBC raised shares of Iamgold Corporation from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $6.93 to $7.00 in a report on Wednesday, September 6th. Raymond James Financial, Inc. upped their price objective on shares of Iamgold Corporation from $6.00 to $7.25 and gave the company a “market perform” rating in a report on Thursday, September 7th. Scotiabank upped their price objective on shares of Iamgold Corporation from $6.25 to $7.00 and gave the company a “sector perform” rating in a report on Friday, September 15th. Canaccord Genuity lowered shares of Iamgold Corporation from a “buy” rating to a “hold” rating and set a $8.07 price objective for the company. in a report on Friday, September 29th. Finally, Royal Bank Of Canada set a $7.00 price objective on shares of Iamgold Corporation and gave the company a “hold” rating in a report on Tuesday, August 29th. Eight research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $7.04.

Iamgold Corporation (NYSE:IAG) opened at 6.18 on Wednesday. The firm has a market cap of $2.87 billion, a PE ratio of 5.63 and a beta of -0.48. The firm has a 50-day moving average of $6.43 and a 200-day moving average of $5.16. Iamgold Corporation has a 52-week low of $3.16 and a 52-week high of $7.25.

Iamgold Corporation (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Wednesday, August 9th. The mining company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $274.50 million during the quarter, compared to analysts’ expectations of $267.07 million. Iamgold Corporation had a return on equity of 1.43% and a net margin of 46.75%. The firm’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.01 EPS. Equities analysts anticipate that Iamgold Corporation will post $0.06 EPS for the current year.

About Iamgold Corporation

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.

Institutional Ownership by Quarter for Iamgold Corporation (NYSE:IAG)

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