Swiss National Bank Acquires 44,000 Shares of Iamgold Corporation $IAG

Swiss National Bank grew its holdings in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 3.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,183,000 shares of the mining company’s stock after purchasing an additional 44,000 shares during the period. Swiss National Bank owned approximately 0.20% of Iamgold worth $22,214,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Mariner LLC lifted its stake in shares of 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 grew its holdings in shares of Iamgold by 1.9% in 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 during the period. Public Employees Retirement System of Ohio grew its stake in shares of Iamgold by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 220,452 shares of the mining company’s stock valued at $2,849,000 after purchasing an additional 1,303 shares during the period. Northwest & Ethical Investments L.P. grew its position in Iamgold by 0.4% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 343,605 shares of the mining company’s stock valued at $5,716,000 after buying an additional 1,424 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of Iamgold by 4.8% during the 4th quarter. Franklin Resources Inc. now owns 32,011 shares of the mining company’s stock valued at $528,000 after acquiring an additional 1,474 shares during the period. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Iamgold Price Performance

IAG opened at $14.67 on Friday. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. Iamgold Corporation has a 12-month low of $6.69 and a 12-month high of $24.87. The business’s fifty day simple moving average is $16.13 and its 200-day simple moving average is $18.26. The company has a market capitalization of $8.43 billion, a price-to-earnings ratio of 8.53, a PEG ratio of 0.67 and a beta of 1.30.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.52 by $0.14. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $955.17 million. Iamgold had a net margin of 29.49% and a return on equity of 26.65%. On average, equities research analysts anticipate that Iamgold Corporation will post 1.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.