Bank of New York Mellon Corp Has $7.68 Million Position in IAMGOLD Corp (IAG)

Bank of New York Mellon Corp lessened its stake in shares of IAMGOLD Corp (NYSE:IAG) (TSE:IMG) by 82.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,259,936 shares of the mining company’s stock after selling 5,810,217 shares during the quarter. Bank of New York Mellon Corp owned about 0.27% of IAMGOLD worth $7,684,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can raised its stake in shares of IAMGOLD by 0.6% during the second quarter. Great West Life Assurance Co. Can now owns 79,161 shares of the mining company’s stock worth $407,000 after purchasing an additional 460 shares during the last quarter. Advisor Group Inc. raised its stake in shares of IAMGOLD by 2.3% during the second quarter. Advisor Group Inc. now owns 33,950 shares of the mining company’s stock worth $175,000 after purchasing an additional 750 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of IAMGOLD by 19.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,990 shares of the mining company’s stock worth $221,000 after purchasing an additional 6,894 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its stake in shares of IAMGOLD by 102.3% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 21,299 shares of the mining company’s stock worth $110,000 after purchasing an additional 10,773 shares during the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of IAMGOLD by 2.5% during the second quarter. UBS Asset Management Americas Inc. now owns 607,826 shares of the mining company’s stock worth $3,131,000 after purchasing an additional 14,600 shares during the last quarter. Institutional investors and hedge funds own 56.04% of the company’s stock.

IAMGOLD Corp (NYSE IAG) opened at $6.08 on Friday. IAMGOLD Corp has a 52-week low of $3.36 and a 52-week high of $7.25. The firm has a market capitalization of $2,820.00, a price-to-earnings ratio of 5.58, a PEG ratio of 22.65 and a beta of -0.57. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.78 and a quick ratio of 3.85.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Tuesday, November 7th. The mining company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates of $0.02 by $0.05. The business had revenue of $268.80 million during the quarter, compared to analysts’ expectations of $268.62 million. IAMGOLD had a return on equity of 1.81% and a net margin of 48.66%. The business’s revenue for the quarter was down 4.8% on a year-over-year basis. During the same quarter last year, the business posted $0.05 earnings per share. sell-side analysts forecast that IAMGOLD Corp will post 0.09 EPS for the current year.

IAG has been the subject of several research analyst reports. BMO Capital Markets reiterated a “buy” rating and issued a $8.00 price objective on shares of IAMGOLD in a research report on Wednesday, November 8th. Zacks Investment Research upgraded IAMGOLD from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a research report on Monday, October 23rd. Desjardins reiterated a “buy” rating on shares of IAMGOLD in a research report on Monday, December 11th. TheStreet cut IAMGOLD from a “b” rating to a “c+” rating in a research report on Thursday, November 16th. Finally, Scotiabank reiterated a “hold” rating on shares of IAMGOLD in a research report on Tuesday, November 14th. Seven investment analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. IAMGOLD presently has an average rating of “Buy” and an average price target of $7.01.

ILLEGAL ACTIVITY NOTICE: “Bank of New York Mellon Corp Has $7.68 Million Position in IAMGOLD Corp (IAG)” was first published by The Ledger Gazette and is owned by of The Ledger Gazette. If you are accessing this piece on another site, it was illegally copied and republished in violation of international copyright and trademark laws. The correct version of this piece can be read at https://ledgergazette.com/2018/01/13/iamgold-corp-iag-holdings-trimmed-by-bank-of-new-york-mellon-corp.html.

IAMGOLD 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.

Institutional Ownership by Quarter for IAMGOLD (NYSE:IAG)

Receive News & Ratings for IAMGOLD Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IAMGOLD and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply