Iamgold Corp (IAG) Stake Boosted by CIBC Asset Management Inc

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CIBC Asset Management Inc lifted its stake in Iamgold Corp (NYSE:IAG) (TSE:IMG) by 3.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 255,886 shares of the mining company’s stock after acquiring an additional 7,896 shares during the quarter. CIBC Asset Management Inc owned 0.05% of Iamgold worth $939,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Sigma Planning Corp acquired a new position in shares of Iamgold in the 4th quarter worth approximately $47,000. HRT Financial LLC acquired a new position in shares of Iamgold in the 3rd quarter worth approximately $154,000. Sowell Financial Services LLC acquired a new position in shares of Iamgold in the 3rd quarter worth approximately $184,000. Tower Research Capital LLC TRC lifted its holdings in Iamgold by 82.1% during the 3rd quarter. Tower Research Capital LLC TRC now owns 64,118 shares of the mining company’s stock worth $237,000 after buying an additional 28,902 shares in the last quarter. Finally, Creative Planning lifted its holdings in Iamgold by 328.6% during the 4th quarter. Creative Planning now owns 72,390 shares of the mining company’s stock worth $266,000 after buying an additional 55,500 shares in the last quarter. Hedge funds and other institutional investors own 58.16% of the company’s stock.

A number of equities research analysts have issued reports on IAG shares. BMO Capital Markets lowered shares of Iamgold from an “outperform” rating to a “market perform” rating and set a $2.96 target price on the stock. in a report on Friday, January 18th. Zacks Investment Research lowered shares of Iamgold from a “hold” rating to a “sell” rating in a report on Friday, January 4th. Macquarie upgraded shares of Iamgold from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $2.75 to $2.83 in a report on Tuesday, January 22nd. ValuEngine upgraded shares of Iamgold from a “sell” rating to a “hold” rating in a report on Wednesday, November 21st. Finally, Credit Suisse Group reiterated a “buy” rating and set a $6.00 target price on shares of Iamgold in a report on Wednesday, January 16th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $5.19.

Iamgold stock opened at $3.47 on Friday. The company has a market cap of $1.70 billion, a price-to-earnings ratio of 57.83, a price-to-earnings-growth ratio of 21.67 and a beta of -0.35. Iamgold Corp has a 52-week low of $2.75 and a 52-week high of $6.33. The company has a current ratio of 4.78, a quick ratio of 3.57 and a debt-to-equity ratio of 0.14.

Iamgold (NYSE:IAG) (TSE:IMG) last released its earnings results on Wednesday, February 20th. The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.02). The business had revenue of $274.30 million for the quarter, compared to analyst estimates of $273.84 million. Iamgold had a positive return on equity of 1.07% and a negative net margin of 2.54%. Iamgold’s quarterly revenue was down 5.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.03) earnings per share. Equities analysts expect that Iamgold Corp will post 0.06 earnings per share for the current fiscal year.

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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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