Price T Rowe Associates Inc. MD Buys New Shares in Iamgold Corp (NYSE:IAG)

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Price T Rowe Associates Inc. MD bought a new stake in Iamgold Corp (NYSE:IAG) (TSE:IMG) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 409,939 shares of the mining company’s stock, valued at approximately $1,390,000. Price T Rowe Associates Inc. MD owned approximately 0.09% of Iamgold at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in IAG. Hellman Jordan Management Co. Inc. MA bought a new position in shares of Iamgold in the first quarter valued at $45,000. Cetera Advisors LLC bought a new position in Iamgold during the second quarter worth $49,000. Clean Yield Group boosted its position in Iamgold by 168.8% during the second quarter. Clean Yield Group now owns 43,000 shares of the mining company’s stock worth $145,000 after purchasing an additional 27,000 shares during the period. Invesco Ltd. boosted its position in Iamgold by 27.1% during the second quarter. Invesco Ltd. now owns 126,942 shares of the mining company’s stock worth $429,000 after purchasing an additional 27,029 shares during the period. Finally, SG Americas Securities LLC boosted its position in Iamgold by 7.3% during the second quarter. SG Americas Securities LLC now owns 129,316 shares of the mining company’s stock worth $437,000 after purchasing an additional 8,852 shares during the period. 57.30% of the stock is owned by institutional investors and hedge funds.

IAG opened at $3.51 on Friday. Iamgold Corp has a fifty-two week low of $2.28 and a fifty-two week high of $4.16. The company has a debt-to-equity ratio of 0.15, a quick ratio of 3.05 and a current ratio of 4.14. The company has a market capitalization of $1.70 billion, a P/E ratio of 58.50, a P/E/G ratio of 44.00 and a beta of -0.10. The stock has a fifty day moving average of $3.63 and a 200-day moving average of $3.29.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its earnings results on Wednesday, August 7th. The mining company reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.02). Iamgold had a negative return on equity of 1.45% and a negative net margin of 9.84%. The firm had revenue of $246.50 million for the quarter, compared to analyst estimates of $272.94 million. During the same period in the prior year, the business posted $0.03 EPS. The firm’s quarterly revenue was down 11.1% compared to the same quarter last year. On average, equities research analysts predict that Iamgold Corp will post 0.03 earnings per share for the current fiscal year.

A number of equities analysts have commented on IAG shares. Zacks Investment Research raised shares of Iamgold from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 26th. Canaccord Genuity reaffirmed a “hold” rating on shares of Iamgold in a research report on Friday, July 19th. Credit Suisse Group cut shares of Iamgold from an “outperform” rating to a “neutral” rating in a research report on Thursday, August 8th. ValuEngine raised shares of Iamgold from a “sell” rating to a “hold” rating in a research report on Friday, June 21st. Finally, CIBC reaffirmed an “average” rating on shares of Iamgold in a research report on Sunday, August 4th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $4.12.

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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