Scotia Capital Inc. Raises Position in IAMGOLD Corp (IAG)
Scotia Capital Inc. increased its position in IAMGOLD Corp (NYSE:IAG) (TSE:IMG) by 69.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 129,005 shares of the mining company’s stock after purchasing an additional 52,716 shares during the quarter. Scotia Capital Inc.’s holdings in IAMGOLD were worth $750,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of the stock. Van ECK Associates Corp lifted its position in IAMGOLD by 1.6% in the third quarter. Van ECK Associates Corp now owns 56,732,518 shares of the mining company’s stock worth $346,069,000 after purchasing an additional 880,887 shares during the period. Alps Advisors Inc. lifted its position in IAMGOLD by 12.9% in the third quarter. Alps Advisors Inc. now owns 4,231,731 shares of the mining company’s stock worth $25,814,000 after purchasing an additional 482,735 shares during the period. Hillsdale Investment Management Inc. lifted its position in IAMGOLD by 96.2% in the third quarter. Hillsdale Investment Management Inc. now owns 2,066,300 shares of the mining company’s stock worth $12,644,000 after purchasing an additional 1,013,300 shares during the period. American Century Companies Inc. lifted its position in IAMGOLD by 70.4% in the fourth quarter. American Century Companies Inc. now owns 1,579,719 shares of the mining company’s stock worth $9,210,000 after purchasing an additional 652,900 shares during the period. Finally, Capital Fund Management S.A. lifted its position in IAMGOLD by 815.9% in the fourth quarter. Capital Fund Management S.A. now owns 1,422,264 shares of the mining company’s stock worth $8,292,000 after purchasing an additional 1,266,981 shares during the period. 55.99% of the stock is owned by hedge funds and other institutional investors.
IAG has been the subject of several research reports. TheStreet cut IAMGOLD from a “b” rating to a “c+” rating in a research report on Thursday, November 16th. BMO Capital Markets lowered IAMGOLD to a “hold” rating in a research note on Friday, February 16th. CIBC set a $7.50 price objective on IAMGOLD and gave the stock an “outperform” rating in a research note on Wednesday, January 17th. Zacks Investment Research upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating and set a $6.75 price objective for the company in a research note on Wednesday, January 10th. Finally, Canaccord Genuity upgraded IAMGOLD from a “hold” rating to a “buy” rating in a research note on Wednesday, January 17th. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $7.07.
IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Wednesday, February 21st. The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.02 by ($0.05). IAMGOLD had a return on equity of 1.08% and a net margin of 45.81%. The company had revenue of $291.10 million for the quarter, compared to analyst estimates of $280.04 million. During the same quarter in the prior year, the company earned ($0.01) earnings per share. The business’s revenue was up 15.3% compared to the same quarter last year. equities analysts anticipate that IAMGOLD Corp will post 0.1 EPS for the current fiscal year.
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IAMGOLD 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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