Candriam S.C.A. Makes New Investment in Iamgold Corporation $IAG

Candriam S.C.A. bought a new stake in Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the second quarter, HoldingsChannel.com reports. The institutional investor bought 2,497,000 shares of the mining company’s stock, valued at approximately $18,354,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of IAG. Vanguard Group Inc. grew its holdings in shares of Iamgold by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 21,594,479 shares of the mining company’s stock worth $134,764,000 after acquiring an additional 361,608 shares during the period. American Century Companies Inc. boosted its position in Iamgold by 19.0% during the first quarter. American Century Companies Inc. now owns 12,092,101 shares of the mining company’s stock worth $75,489,000 after purchasing an additional 1,929,787 shares in the last quarter. Invesco Ltd. grew its holdings in Iamgold by 19.6% in the first quarter. Invesco Ltd. now owns 8,536,289 shares of the mining company’s stock valued at $53,352,000 after purchasing an additional 1,396,354 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in Iamgold in the first quarter valued at $45,911,000. Finally, Sprott Inc. increased its position in shares of Iamgold by 5.1% in the first quarter. Sprott Inc. now owns 5,952,037 shares of the mining company’s stock valued at $37,196,000 after buying an additional 287,710 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Iamgold Stock Performance

Shares of IAG opened at $13.79 on Friday. Iamgold Corporation has a 1 year low of $4.89 and a 1 year high of $14.68. The company’s 50 day simple moving average is $12.26 and its 200 day simple moving average is $9.10. The company has a market capitalization of $7.93 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 0.39 and a beta of 1.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.76 and a current ratio of 1.47.

Iamgold (NYSE:IAG) (TSE:IMG) last released its earnings results on Tuesday, November 4th. The mining company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.21 by $0.09. Iamgold had a net margin of 40.61% and a return on equity of 8.54%. The firm had revenue of $714.61 million during the quarter, compared to analysts’ expectations of $759.45 million. On average, sell-side analysts predict that Iamgold Corporation will post 0.67 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on IAG. CIBC boosted their price objective on shares of Iamgold from $10.40 to $19.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Scotiabank upped their price target on shares of Iamgold from $8.50 to $15.00 and gave the company a “sector perform” rating in a report on Thursday, October 23rd. Zacks Research cut shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. Stifel Canada upgraded Iamgold from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Finally, Wall Street Zen raised Iamgold from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Three investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Iamgold presently has a consensus rating of “Buy” and a consensus price target of $15.25.

Iamgold Company Profile

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.