Iamgold Corporation $IAG Shares Purchased by TD Asset Management Inc

TD Asset Management Inc boosted its stake in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 39.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,431,834 shares of the mining company’s stock after buying an additional 962,271 shares during the period. TD Asset Management Inc’s holdings in Iamgold were worth $56,707,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Banque Transatlantique SA acquired a new position in shares of Iamgold during the second quarter valued at $26,000. Global Retirement Partners LLC acquired a new position in shares of Iamgold during the fourth quarter valued at $33,000. FNY Investment Advisers LLC acquired a new position in shares of Iamgold during the fourth quarter valued at $38,000. LOM Asset Management Ltd acquired a new position in shares of Iamgold during the fourth quarter valued at $49,000. Finally, Banque Cantonale Vaudoise increased its holdings in shares of Iamgold by 617.8% during the fourth quarter. Banque Cantonale Vaudoise now owns 2,986 shares of the mining company’s stock valued at $49,000 after purchasing an additional 2,570 shares during the period. 47.08% of the stock is owned by institutional investors and hedge funds.

Iamgold Price Performance

NYSE:IAG opened at $15.42 on Friday. The business’s 50-day moving average price is $17.91 and its 200 day moving average price is $18.19. The firm has a market cap of $8.91 billion, a P/E ratio of 8.96, a PEG ratio of 0.83 and a beta of 1.25. Iamgold Corporation has a 52-week low of $6.69 and a 52-week high of $24.87. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.12.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. Iamgold had a return on equity of 26.65% and a net margin of 29.49%.The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $955.17 million. As a group, sell-side analysts predict that Iamgold Corporation will post 2.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on IAG. Scotiabank lifted their target price on Iamgold to $25.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 25th. Wall Street Zen raised Iamgold from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Zacks Research lowered Iamgold from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Iamgold in a report on Tuesday, April 21st. Finally, TD Securities reaffirmed a “buy” rating on shares of Iamgold in a report on Thursday, February 19th. One equities research analyst has 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, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.75.

Iamgold Profile

IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.

The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.