Sigma Planning Corp Takes $770,000 Position in Iamgold Corporation $IAG

Sigma Planning Corp acquired a new stake in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) during the 1st quarter, Holdings Channel.com reports. The institutional investor acquired 40,895 shares of the mining company’s stock, valued at approximately $770,000.

Other large investors also recently modified their holdings of the company. Mariner LLC boosted its stake in Iamgold by 0.6% in the fourth quarter. Mariner LLC now owns 110,033 shares of the mining company’s stock worth $1,814,000 after buying an additional 615 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its stake in shares of Iamgold by 1.9% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 37,000 shares of the mining company’s stock worth $612,000 after acquiring an additional 700 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Iamgold by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 220,452 shares of the mining company’s stock worth $2,849,000 after acquiring an additional 1,303 shares in the last quarter. Northwest & Ethical Investments L.P. lifted its holdings in shares of Iamgold by 0.4% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 343,605 shares of the mining company’s stock worth $5,716,000 after acquiring an additional 1,424 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Iamgold by 4.8% in the 4th quarter. Franklin Resources Inc. now owns 32,011 shares of the mining company’s stock worth $528,000 after acquiring an additional 1,474 shares during the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on IAG. Scotiabank reduced their target price on shares of Iamgold from $25.00 to $22.00 and set a “sector perform” rating on the stock in a report on Tuesday, July 14th. Zacks Research downgraded shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Bank of America lowered their price target on shares of Iamgold from $22.50 to $21.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Weiss Ratings lowered shares of Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Finally, Royal Bank Of Canada reduced their price objective on Iamgold from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.00.

Iamgold Stock Performance

Shares of IAG stock opened at $14.12 on Monday. The company has a market capitalization of $8.11 billion, a P/E ratio of 8.21, a PEG ratio of 0.61 and a beta of 1.30. Iamgold Corporation has a fifty-two week low of $6.69 and a fifty-two week high of $24.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.89. The stock has a 50 day moving average price of $16.46 and a two-hundred day moving average price of $18.31.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.14. Iamgold had a net margin of 29.49% and a return on equity of 26.65%. The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $955.17 million. Analysts expect that Iamgold Corporation will post 2.05 earnings per share for the current year.

About Iamgold

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.