Contrarius Investment Management Ltd grew its position in Iamgold Corp (NYSE:IAG) (TSE:IMG) by 97.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,584,094 shares of the mining company’s stock after buying an additional 1,766,817 shares during the period. Iamgold makes up 0.8% of Contrarius Investment Management Ltd’s portfolio, making the stock its 27th largest position. Contrarius Investment Management Ltd owned approximately 0.77% of Iamgold worth $13,189,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in IAG. BlackRock Inc. grew its holdings in shares of Iamgold by 17.8% in the 2nd quarter. BlackRock Inc. now owns 345,591 shares of the mining company’s stock valued at $2,008,000 after buying an additional 52,340 shares during the period. Schroder Investment Management Group grew its holdings in shares of Iamgold by 205.1% in the 2nd quarter. Schroder Investment Management Group now owns 623,110 shares of the mining company’s stock valued at $4,533,000 after buying an additional 418,900 shares during the period. Bank of New York Mellon Corp boosted its stake in Iamgold by 69.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,959,287 shares of the mining company’s stock worth $46,243,000 after purchasing an additional 3,269,020 shares during the period. Intact Investment Management Inc. acquired a new position in Iamgold in the 3rd quarter worth $1,013,000. Finally, ASA Gold & Precious Metals Ltd boosted its stake in Iamgold by 92.9% in the 3rd quarter. ASA Gold & Precious Metals Ltd now owns 675,000 shares of the mining company’s stock worth $2,484,000 after purchasing an additional 325,000 shares during the period. 54.91% of the stock is owned by institutional investors.
Iamgold stock opened at $3.49 on Monday. Iamgold Corp has a one year low of $2.75 and a one year high of $6.33. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.31 and a quick ratio of 3.40. The stock has a market cap of $1.63 billion, a PE ratio of 58.17, a price-to-earnings-growth ratio of 18.18 and a beta of -0.30.
IAG has been the subject of a number of research analyst reports. Zacks Investment Research lowered shares of Iamgold from a “hold” rating to a “sell” rating in a research note on Friday, January 4th. Macquarie raised shares of Iamgold from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $2.75 to $2.83 in a research note on Tuesday, January 22nd. BMO Capital Markets lowered shares of Iamgold from an “outperform” rating to a “market perform” rating and set a $2.96 target price for the company. in a research note on Friday, January 18th. ValuEngine raised shares of Iamgold from a “sell” rating to a “hold” rating in a research note on Wednesday, November 21st. Finally, Credit Suisse Group reaffirmed a “buy” rating and issued a $6.00 target price on shares of Iamgold in a research note on Wednesday, January 16th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $5.19.
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IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. It also explores for copper and silver. The company owns interests in the Rosebel gold mine located in north eastern Suriname, South America; the Essakane gold mine in north-eastern Burkina Faso, West Africa; the Westwood gold mine in southwestern Québec, Canada; and the Sadiola Gold Mine located in southwest Mali, West Africa.
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