Zurcher Kantonalbank Zurich Cantonalbank Purchases 6,894 Shares of Iamgold Corporation (IAG)
Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 19.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,990 shares of the mining company’s stock after acquiring an additional 6,894 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Iamgold Corporation were worth $221,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Comerica Bank raised 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 acquiring an additional 485 shares in the last quarter. World Asset Management Inc raised its holdings in shares of Iamgold Corporation by 3.9% in the first quarter. World Asset Management Inc now owns 27,537 shares of the mining company’s stock valued at $110,000 after acquiring an additional 1,040 shares in the last quarter. Sprott Inc. bought a new stake in shares of Iamgold Corporation in the second quarter valued at about $114,000. Acadian Asset Management LLC bought a new stake in shares of Iamgold Corporation in the second quarter valued at about $137,000. Finally, Highbridge Capital Management LLC bought a new stake in shares of Iamgold Corporation in the first quarter valued at about $227,000. Hedge funds and other institutional investors own 56.35% of the company’s stock.
Several analysts recently weighed in on IAG shares. Zacks Investment Research downgraded Iamgold Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. ValuEngine upgraded Iamgold Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 23rd. BidaskClub upgraded Iamgold Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 19th. Royal Bank Of Canada set a $6.00 target price on shares of Iamgold Corporation and gave the stock a “hold” rating in a report on Thursday, June 8th. Finally, Raymond James Financial, Inc. reiterated a “market perform” rating and issued a $6.00 target price on shares of Iamgold Corporation in a report on Thursday, June 15th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $6.82.
Shares of Iamgold Corporation (NYSE:IAG) opened at 6.57 on Friday. The stock’s 50 day moving average price is $6.02 and its 200-day moving average price is $4.83. The stock has a market cap of $3.05 billion, a price-to-earnings ratio of 5.99 and a beta of -0.40. Iamgold Corporation has a 52 week low of $3.14 and a 52 week high of $7.25.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last issued its earnings results on Wednesday, August 9th. The mining company reported $0.01 earnings per share for the quarter, hitting the 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 for the quarter, compared to analyst estimates of $267.07 million. During the same quarter last year, the company earned $0.01 EPS. The business’s quarterly revenue was up 18.1% on a year-over-year basis. Equities analysts anticipate that Iamgold Corporation will post $0.05 earnings per share for the current fiscal year.
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.
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