Adams Asset Advisors LLC Continues to Hold Stake in Iamgold Corporation (IAG)
Adams Asset Advisors LLC maintained its stake in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 359,171 shares of the mining company’s stock at the end of the second quarter. Adams Asset Advisors LLC owned 0.08% of Iamgold Corporation worth $1,853,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in IAG. Sprott Inc. purchased a new position in Iamgold Corporation during the second quarter valued at $114,000. Virtu Financial LLC purchased a new position in Iamgold Corporation during the second quarter valued at $275,000. Hexavest Inc. raised its position in Iamgold Corporation by 10.2% in the second quarter. Hexavest Inc. now owns 3,453,141 shares of the mining company’s stock valued at $17,818,000 after buying an additional 320,649 shares during the period. Highbridge Capital Management LLC purchased a new position in Iamgold Corporation during the first quarter valued at $227,000. Finally, Renaissance Technologies LLC raised its position in Iamgold Corporation by 5.6% in the first quarter. Renaissance Technologies LLC now owns 17,978,100 shares of the mining company’s stock valued at $71,912,000 after buying an additional 959,000 shares during the period. Institutional investors and hedge funds own 57.95% of the company’s stock.
Shares of Iamgold Corporation (NYSE:IAG) opened at 5.22 on Tuesday. The firm’s market cap is $2.43 billion. The firm has a 50-day moving average price of $5.15 and a 200-day moving average price of $4.49. Iamgold Corporation has a 12-month low of $3.14 and a 12-month high of $5.87.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last posted its earnings results on Tuesday, May 9th. The mining company reported $0.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.02. Iamgold Corporation had a positive return on equity of 1.63% and a negative net margin of 1.80%. The firm had revenue of $260.50 million for the quarter, compared to analyst estimates of $264.54 million. During the same period in the previous year, the company posted ($0.02) earnings per share. The company’s revenue for the quarter was up 18.6% on a year-over-year basis. On average, equities research analysts expect that Iamgold Corporation will post $0.04 earnings per share for the current fiscal year.
IAG has been the topic of a number of recent research reports. Zacks Investment Research upgraded shares of Iamgold Corporation from a “hold” rating to a “strong-buy” rating and set a $5.75 price target on the stock in a research note on Wednesday, June 21st. TheStreet upgraded shares of Iamgold Corporation from a “d+” rating to a “c” rating in a research note on Monday, April 10th. BMO Capital Markets set a $5.00 target price on shares of Iamgold Corporation and gave the stock a “hold” rating in a research note on Tuesday, June 6th. Credit Suisse Group set a $6.00 price target on shares of Iamgold Corporation and gave the company a “hold” rating in a research note on Tuesday, July 18th. Finally, ValuEngine upgraded shares of Iamgold Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 23rd. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $5.88.
Iamgold Corporation Company 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.
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