Iamgold Corporation $IAG Holdings Raised by Van ECK Associates Corp

Van ECK Associates Corp grew its stake in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 35.7% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 51,992,067 shares of the mining company’s stock after acquiring an additional 13,691,148 shares during the period. Van ECK Associates Corp owned 0.09% of Iamgold worth $672,253,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Royal Bank of Canada boosted its position in Iamgold by 14.0% during the first quarter. Royal Bank of Canada now owns 691,322 shares of the mining company’s stock valued at $4,321,000 after purchasing an additional 84,939 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Iamgold by 6.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,420,263 shares of the mining company’s stock worth $15,127,000 after purchasing an additional 144,160 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Iamgold by 67.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,005,292 shares of the mining company’s stock worth $6,283,000 after purchasing an additional 404,645 shares in the last quarter. Savant Capital LLC purchased a new stake in shares of Iamgold during the 2nd quarter worth about $100,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Iamgold during the 2nd quarter valued at about $90,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director David Stewart Smith sold 31,000 shares of the business’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $32.87, for a total transaction of $1,018,970.00. Following the completion of the transaction, the director owned 20,000 shares of the company’s stock, valued at approximately $657,400. The trade was a 60.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.17% of the stock is owned by company insiders.

Iamgold Stock Up 0.4%

Shares of Iamgold stock opened at $21.85 on Tuesday. Iamgold Corporation has a 12-month low of $5.02 and a 12-month high of $24.87. The company has a quick ratio of 1.02, a current ratio of 1.75 and a debt-to-equity ratio of 0.15. The stock has a 50 day moving average price of $20.01 and a two-hundred day moving average price of $15.48. The stock has a market capitalization of $12.89 billion, a P/E ratio of 19.00, a PEG ratio of 1.73 and a beta of 1.32.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Tuesday, February 17th. The mining company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.15. Iamgold had a net margin of 23.29% and a return on equity of 19.26%. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Equities analysts expect that Iamgold Corporation will post 0.67 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. TD Securities restated a “buy” rating on shares of Iamgold in a report on Thursday, February 19th. Scotiabank boosted their target price on shares of Iamgold to $25.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 25th. Zacks Research upgraded shares of Iamgold from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Iamgold in a report on Wednesday, February 4th. Finally, Wall Street Zen raised shares of Iamgold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Iamgold currently has an average rating of “Buy” and a consensus price target of $17.75.

Iamgold Company Profile

IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.

The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.