SG Americas Securities LLC Grows Stock Holdings in Iamgold Corp (NYSE:IAG)

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SG Americas Securities LLC increased its stake in shares of Iamgold Corp (NYSE:IAG) (TSE:IMG) by 51.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 226,993 shares of the mining company’s stock after buying an additional 77,395 shares during the period. SG Americas Securities LLC’s holdings in Iamgold were worth $897,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Macquarie Group Ltd. acquired a new position in Iamgold during the fourth quarter worth about $37,000. HighTower Advisors LLC acquired a new position in Iamgold during the first quarter worth about $25,000. Pictet Asset Management Ltd. acquired a new position in Iamgold during the first quarter worth about $32,000. Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in Iamgold during the second quarter worth about $57,000. Finally, Two Sigma Securities LLC acquired a new position in Iamgold during the first quarter worth about $39,000. 54.51% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have issued reports on IAG. Raymond James lifted their target price on shares of Iamgold from $5.00 to $5.50 and gave the stock a “market perform” rating in a research report on Wednesday, July 22nd. BMO Capital Markets cut their price objective on shares of Iamgold from $4.00 to $3.50 and set a “market perform” rating for the company in a research report on Wednesday, May 6th. Stifel Nicolaus raised shares of Iamgold to a “buy” rating and set a $7.75 price objective for the company in a research report on Tuesday, July 21st. National Bank Financial reissued a “buy” rating and issued a $7.50 price objective on shares of Iamgold in a research report on Thursday, July 23rd. Finally, Canaccord Genuity reissued a “hold” rating and issued a $4.75 price objective on shares of Iamgold in a research report on Tuesday, May 5th. Nine investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Iamgold has a consensus rating of “Hold” and a consensus target price of $4.78.

Iamgold stock opened at $4.98 on Friday. Iamgold Corp has a 1 year low of $1.44 and a 1 year high of $5.24. The firm has a 50 day moving average price of $4.10 and a 200 day moving average price of $3.35. The company has a market cap of $2.36 billion, a price-to-earnings ratio of -5.72, a PEG ratio of 6.16 and a beta of 0.90. The company has a debt-to-equity ratio of 0.20, a quick ratio of 3.01 and a current ratio of 4.08.

Iamgold (NYSE:IAG) (TSE:IMG) last released its earnings results on Monday, May 4th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The company had revenue of $274.50 million during the quarter, compared to analysts’ expectations of $294.56 million. Iamgold had a negative net margin of 37.26% and a negative return on equity of 0.94%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. Sell-side analysts predict that Iamgold Corp will post 0.26 EPS for the current year.

Iamgold Profile

IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine in Burkina Faso, West Africa; the Westwood mine in Quebec, Canada; and the Sadiola mine located in Mali, West Africa.

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Institutional Ownership by Quarter for Iamgold (NYSE:IAG)

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