Arrowstreet Capital Limited Partnership Grows Position in Iamgold Corporation $IAG

Arrowstreet Capital Limited Partnership grew its holdings in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 12.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,917,319 shares of the mining company’s stock after buying an additional 2,302,527 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Iamgold were worth $154,046,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its holdings in Iamgold by 40.6% in the 1st quarter. Bank of New York Mellon Corp now owns 49,282 shares of the mining company’s stock valued at $308,000 after acquiring an additional 14,236 shares during the last quarter. Avantax Advisory Services Inc. acquired a new stake in shares of Iamgold in the first quarter valued at approximately $86,000. Cetera Investment Advisers increased its holdings in shares of Iamgold by 2.5% in the first quarter. Cetera Investment Advisers now owns 311,376 shares of the mining company’s stock valued at $1,946,000 after purchasing an additional 7,677 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Iamgold by 12.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 155,690 shares of the mining company’s stock worth $971,000 after buying an additional 17,636 shares in the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new position in Iamgold during the first quarter worth $1,097,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Iamgold Price Performance

IAG stock opened at $14.98 on Wednesday. The business’s fifty day moving average price is $13.11 and its 200 day moving average price is $9.82. Iamgold Corporation has a 12-month low of $4.98 and a 12-month high of $15.80. The company has a current ratio of 1.47, a quick ratio of 0.76 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $8.62 billion, a PE ratio of 10.78, a P/E/G ratio of 0.39 and a beta of 1.38.

Iamgold (NYSE:IAG) (TSE:IMG) last released its earnings results on Tuesday, November 4th. The mining company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.09. The company had revenue of $714.61 million during the quarter, compared to the consensus estimate of $759.45 million. Iamgold had a return on equity of 8.54% and a net margin of 40.61%. On average, sell-side analysts anticipate that Iamgold Corporation will post 0.67 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a report on Wednesday, October 8th. Royal Bank Of Canada raised shares of Iamgold from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $9.00 to $14.00 in a report on Wednesday, September 10th. Stifel Canada raised shares of Iamgold from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Zacks Research cut shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. Finally, Raymond James Financial lifted their price target on shares of Iamgold from $9.00 to $13.00 and gave the company a “market perform” rating in a research report on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $15.25.

Iamgold Company Profile

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.