Fiera Capital Corp Increases Stake in Iamgold Corporation (IAG)
Fiera Capital Corp grew its holdings in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 7,802.7% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,473,546 shares of the mining company’s stock after buying an additional 1,454,900 shares during the quarter. Fiera Capital Corp owned approximately 0.32% of Iamgold Corporation worth $7,588,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Comerica Bank increased its stake 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 buying an additional 485 shares in the last quarter. World Asset Management Inc increased its stake 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 buying an additional 1,040 shares in the last quarter. Sprott Inc. acquired a new stake in shares of Iamgold Corporation in the second quarter valued at $114,000. Acadian Asset Management LLC acquired a new stake in shares of Iamgold Corporation in the second quarter valued at $137,000. Finally, Alliancebernstein L.P. increased its stake 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 buying an additional 20,800 shares in the last quarter. Institutional investors own 56.35% of the company’s stock.
Iamgold Corporation (NYSE:IAG) opened at 6.57 on Friday. The firm’s 50-day moving average price is $6.02 and its 200-day moving average price is $4.83. The company has a market cap of $3.05 billion, a PE ratio of 5.99 and a beta of -0.40. Iamgold Corporation has a one year low of $3.14 and a one year high of $7.25.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Wednesday, August 9th. The mining company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. Iamgold Corporation had a return on equity of 1.43% and a net margin of 46.75%. The firm had revenue of $274.50 million for the quarter, compared to analyst estimates of $267.07 million. During the same quarter in the previous year, the company posted $0.01 EPS. The business’s revenue was up 18.1% on a year-over-year basis. On average, equities research analysts forecast that Iamgold Corporation will post $0.05 earnings per share for the current fiscal year.
IAG has been the topic of several recent research reports. TheStreet upgraded Iamgold Corporation from a “c-” rating to a “b” rating in a report on Thursday, August 17th. Bank of America Corporation upgraded Iamgold Corporation from an “underperform” rating to a “neutral” rating in a report on Tuesday, May 23rd. Royal Bank Of Canada reiterated a “hold” rating on shares of Iamgold Corporation in a report on Wednesday, July 12th. CIBC upgraded Iamgold Corporation from a “sector perform” rating to a “sector outperform” rating and raised their price target for the company from $6.93 to $7.00 in a report on Wednesday, September 6th. Finally, Credit Suisse Group reiterated a “hold” rating and issued a $5.00 price target on shares of Iamgold Corporation in a report on Wednesday, June 7th. Seven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $6.82.
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.
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