Asset One Wealth Management LLC Acquires Shares of 107,423 Iamgold Corporation $IAG

Asset One Wealth Management LLC acquired a new stake in Iamgold Corporation (NYSE:IAG) (TSE:IMG) during the fourth quarter, HoldingsChannel reports. The fund acquired 107,423 shares of the mining company’s stock, valued at approximately $1,954,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rathbones Group PLC grew its holdings in Iamgold by 1,037,042.8% in the 4th quarter. Rathbones Group PLC now owns 418,901,982 shares of the mining company’s stock valued at $6,907,694,000 after buying an additional 418,861,592 shares in the last quarter. Van ECK Associates Corp grew its holdings in Iamgold by 35.7% in the 3rd quarter. Van ECK Associates Corp now owns 51,992,067 shares of the mining company’s stock valued at $672,253,000 after buying an additional 13,691,148 shares in the last quarter. FIL Ltd grew its holdings in Iamgold by 124.0% in the 4th quarter. FIL Ltd now owns 36,367,149 shares of the mining company’s stock valued at $600,135,000 after buying an additional 20,134,496 shares in the last quarter. Vanguard Group Inc. grew its holdings in Iamgold by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 23,836,156 shares of the mining company’s stock valued at $393,328,000 after buying an additional 1,068,465 shares in the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Iamgold by 16.4% during the 3rd quarter. Bank of America Corp DE now owns 11,194,505 shares of the mining company’s stock valued at $144,745,000 after acquiring an additional 1,581,064 shares during the period. 47.08% of the stock is owned by institutional investors and hedge funds.

Iamgold Price Performance

Shares of IAG stock opened at $17.53 on Thursday. 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 Corporation has a twelve month low of $6.69 and a twelve month high of $24.87. The company has a market cap of $10.13 billion, a P/E ratio of 10.19, a P/E/G ratio of 0.87 and a beta of 1.25. The business has a fifty day simple moving average of $17.60 and a 200 day simple moving average of $18.37.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Tuesday, May 5th. The mining company reported $0.66 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $955.17 million. On average, sell-side analysts forecast that Iamgold Corporation will post 2.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Scotiabank upped their target price on Iamgold to $25.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 25th. Weiss Ratings downgraded Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. TD Securities reiterated a “buy” rating on shares of Iamgold in a research report on Thursday, February 19th. Zacks Research downgraded Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Wall Street Zen upgraded Iamgold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.75.

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.