Schroder Investment Management Group Acquires 418,900 Shares of Iamgold Corp (IAG)

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Schroder Investment Management Group increased its holdings in shares of Iamgold Corp (NYSE:IAG) (TSE:IMG) by 205.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 623,110 shares of the mining company’s stock after acquiring an additional 418,900 shares during the quarter. Schroder Investment Management Group’s holdings in Iamgold were worth $4,533,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Sigma Planning Corp bought a new position in Iamgold during the second quarter worth about $111,000. Koch Industries Inc. bought a new position in Iamgold in the 1st quarter valued at about $108,000. Natixis bought a new position in Iamgold in the 1st quarter valued at about $305,000. LPL Financial LLC increased its holdings in Iamgold by 201.3% in the 1st quarter. LPL Financial LLC now owns 64,503 shares of the mining company’s stock valued at $335,000 after buying an additional 43,098 shares during the period. Finally, OppenheimerFunds Inc. bought a new position in Iamgold in the 2nd quarter valued at about $407,000. 53.38% of the stock is currently owned by institutional investors and hedge funds.

IAG stock opened at $3.98 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.80 and a current ratio of 4.72. Iamgold Corp has a 12 month low of $3.57 and a 12 month high of $6.52. The stock has a market capitalization of $1.85 billion, a price-to-earnings ratio of 66.33, a PEG ratio of 8.82 and a beta of -0.31.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Wednesday, August 8th. The mining company reported $0.03 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.02. Iamgold had a net margin of 2.54% and a return on equity of 2.56%. The company had revenue of $277.40 million for the quarter, compared to the consensus estimate of $265.13 million. During the same period last year, the company posted $0.01 EPS. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. Equities research analysts forecast that Iamgold Corp will post 0.15 earnings per share for the current fiscal year.

Several equities analysts have commented on the stock. Zacks Investment Research lowered shares of Iamgold from a “hold” rating to a “sell” rating in a report on Thursday. TheStreet lowered shares of Iamgold from a “b” rating to a “c-” rating in a report on Friday, August 10th. Royal Bank of Canada set a $6.00 target price on shares of Iamgold and gave the company a “hold” rating in a report on Thursday, October 11th. ValuEngine raised shares of Iamgold from a “sell” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, BMO Capital Markets reissued a “buy” rating and issued a $7.00 target price on shares of Iamgold in a report on Friday, September 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $7.13.

Iamgold Profile

IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. It also explores for copper and silver. The company owns interests in the Rosebel gold mine located in north eastern Suriname, South America; the Essakane gold mine in north-eastern Burkina Faso, West Africa; the Westwood gold mine in southwestern Qu├ębec, Canada; and the Sadiola Gold Mine located in southwest Mali, West Africa.

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Institutional Ownership by Quarter for Iamgold (NYSE:IAG)

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