1,307,110 Shares in Iamgold Corporation $IAG Purchased by Man Group plc

Man Group plc bought a new stake in Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,307,110 shares of the mining company’s stock, valued at approximately $20,708,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Banque Transatlantique SA bought a new stake in shares of Iamgold during the 2nd quarter worth about $26,000. Pin Oak Investment Advisors Inc. bought a new position in shares of Iamgold in the fourth quarter valued at approximately $30,000. Global Retirement Partners LLC acquired a new position in shares of Iamgold during the fourth quarter valued at approximately $33,000. Western Wealth Management LLC acquired a new position in shares of Iamgold during the first quarter valued at approximately $43,000. Finally, Banque Cantonale Vaudoise raised its holdings in Iamgold by 617.8% during the fourth quarter. Banque Cantonale Vaudoise now owns 2,986 shares of the mining company’s stock worth $49,000 after purchasing an additional 2,570 shares in the last quarter. Institutional investors own 47.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded Iamgold from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd. Weiss Ratings cut Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Scotiabank boosted their price objective on Iamgold from $22.00 to $23.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 12th. Jefferies Financial Group initiated coverage on Iamgold in a report on Thursday, August 20th. They issued a “buy” rating and a $24.00 price objective for the company. Finally, Bank of America decreased their target price on Iamgold from $22.50 to $21.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Iamgold Stock Down 2.9%

NYSE IAG opened at $21.53 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.71 and a quick ratio of 1.05. The company’s 50 day simple moving average is $16.51 and its 200 day simple moving average is $18.07. Iamgold Corporation has a 12 month low of $8.86 and a 12 month high of $24.87. The company has a market capitalization of $12.37 billion, a P/E ratio of 10.87, a PEG ratio of 1.17 and a beta of 1.32.

Iamgold (NYSE:IAG) (TSE:IMG) last released its earnings results on Thursday, August 6th. The mining company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $845.97 million during the quarter, compared to analyst estimates of $882.92 million. Iamgold had a net margin of 31.40% and a return on equity of 28.97%. Equities research analysts expect that Iamgold Corporation will post 1.92 earnings per share for the current fiscal year.

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.