Iamgold Corporation (IAG) Shares Sold by Scotia Capital Inc.
Scotia Capital Inc. cut its position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 4.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,353 shares of the mining company’s stock after selling 3,320 shares during the quarter. Scotia Capital Inc.’s holdings in Iamgold Corporation were worth $368,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of IAG. Tocqueville Asset Management L.P. grew its stake in Iamgold Corporation by 183.9% in the 2nd quarter. Tocqueville Asset Management L.P. now owns 6,850,300 shares of the mining company’s stock valued at $35,348,000 after buying an additional 4,437,200 shares during the last quarter. Royal Bank of Canada grew its stake in Iamgold Corporation by 496.5% in the 2nd quarter. Royal Bank of Canada now owns 4,484,298 shares of the mining company’s stock valued at $23,138,000 after buying an additional 3,732,543 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Iamgold Corporation by 560.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,688,430 shares of the mining company’s stock valued at $13,873,000 after buying an additional 2,281,226 shares during the last quarter. Morgan Stanley grew its stake in Iamgold Corporation by 204.3% in the 1st quarter. Morgan Stanley now owns 2,237,001 shares of the mining company’s stock valued at $8,949,000 after buying an additional 1,501,873 shares during the last quarter. Finally, Alps Advisors Inc. grew its stake in Iamgold Corporation by 66.2% in the 2nd quarter. Alps Advisors Inc. now owns 3,748,996 shares of the mining company’s stock valued at $19,345,000 after buying an additional 1,493,180 shares during the last quarter. Institutional investors and hedge funds own 56.35% of the company’s stock.
Shares of Iamgold Corporation (NYSE IAG) opened at 5.895 on Tuesday. The firm has a market capitalization of $2.74 billion, a price-to-earnings ratio of 5.374 and a beta of -0.48. The stock’s 50 day moving average is $6.46 and its 200 day moving average is $5.21. Iamgold Corporation has a 12 month low of $3.16 and a 12 month 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 the Thomson Reuters’ consensus estimate of $0.01. Iamgold Corporation had a net margin of 46.75% and a return on equity of 1.43%. The business had revenue of $274.50 million for the quarter, compared to the consensus estimate of $267.07 million. During the same period in the prior year, the company posted $0.01 earnings per share. Iamgold Corporation’s revenue was up 18.1% compared to the same quarter last year. Equities research analysts forecast that Iamgold Corporation will post $0.06 earnings per share for the current fiscal year.
A number of research analysts recently issued reports on IAG shares. Royal Bank Of Canada reiterated a “hold” rating on shares of Iamgold Corporation in a research note on Wednesday, July 12th. Zacks Investment Research upgraded shares of Iamgold Corporation from a “hold” rating to a “buy” rating and set a $5.75 target price on the stock in a research note on Monday, July 17th. Credit Suisse Group set a $6.00 target price on shares of Iamgold Corporation and gave the company a “hold” rating in a research note on Tuesday, July 18th. Scotiabank raised their price target on shares of Iamgold Corporation from $5.75 to $6.25 and gave the stock a “sector perform” rating in a research report on Tuesday, August 1st. Finally, ValuEngine upgraded shares of Iamgold Corporation from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Eight analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $7.04.
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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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