American Century Companies Inc. Boosts Stake in IAMGOLD Co. (NYSE:IAG)

American Century Companies Inc. grew its stake in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 25.9% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 10,162,314 shares of the mining company’s stock after acquiring an additional 2,092,803 shares during the quarter. American Century Companies Inc.’s holdings in IAMGOLD were worth $52,499,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in IAG. Tobam purchased a new stake in IAMGOLD during the 4th quarter worth about $25,000. Blue Trust Inc. boosted its stake in shares of IAMGOLD by 157.1% during the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock worth $47,000 after purchasing an additional 5,511 shares during the last quarter. Raab & Moskowitz Asset Management LLC purchased a new stake in shares of IAMGOLD during the fourth quarter worth about $56,000. Atria Wealth Solutions Inc. acquired a new position in shares of IAMGOLD in the fourth quarter valued at approximately $68,000. Finally, Choreo LLC purchased a new position in shares of IAMGOLD during the fourth quarter valued at approximately $88,000. 47.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IAG has been the subject of several analyst reports. National Bank Financial upgraded IAMGOLD to a “strong-buy” rating in a report on Friday, March 21st. StockNews.com lowered IAMGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. CIBC restated an “outperform” rating on shares of IAMGOLD in a report on Thursday, March 20th. Finally, Raymond James upgraded shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, IAMGOLD has a consensus rating of “Moderate Buy” and an average target price of $6.90.

IAMGOLD Stock Performance

NYSE IAG opened at $6.12 on Thursday. The business’s 50-day simple moving average is $5.96 and its 200-day simple moving average is $5.56. The firm has a market capitalization of $3.50 billion, a P/E ratio of 4.22 and a beta of 1.63. IAMGOLD Co. has a 1-year low of $3.10 and a 1-year high of $6.69. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Thursday, February 20th. The mining company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. The business had revenue of $469.90 million for the quarter, compared to analyst estimates of $498.68 million. Equities analysts predict that IAMGOLD Co. will post 0.67 EPS for the current year.

IAMGOLD 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.