Sigma Planning Corp Purchases 38,802 Shares of Iamgold Corporation $IAG

Sigma Planning Corp increased its position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 93.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 80,462 shares of the mining company’s stock after buying an additional 38,802 shares during the period. Sigma Planning Corp’s holdings in Iamgold were worth $1,481,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in Iamgold during the 2nd quarter worth approximately $350,145,000. Donald Smith & CO. Inc. purchased a new stake in shares of Iamgold in the 2nd quarter valued at approximately $206,146,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Iamgold in the 2nd quarter valued at approximately $158,877,000. Bank of America Corp DE acquired a new stake in shares of Iamgold in the 2nd quarter valued at $151,716,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Iamgold in the 2nd quarter valued at $53,738,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Iamgold Stock Performance

Shares of IAG opened at $17.27 on Thursday. The company has a market capitalization of $9.79 billion, a price-to-earnings ratio of 8.72, a price-to-earnings-growth ratio of 1.21 and a beta of 1.41. Iamgold Corporation has a 52-week low of $10.87 and a 52-week high of $24.87. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 0.10. The stock has a 50 day moving average price of $19.24 and a 200 day moving average price of $18.37.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Thursday, August 6th. The mining company reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. The company had revenue of $845.97 million for the quarter, compared to analysts’ expectations of $882.92 million. Iamgold had a net margin of 31.40% and a return on equity of 28.97%. Research analysts predict that Iamgold Corporation will post 1.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on IAG. Jefferies Financial Group assumed coverage on shares of Iamgold in a research report on Thursday, August 20th. They set a “buy” rating and a $24.00 price objective for the company. Bank of America dropped their target price on Iamgold from $22.50 to $21.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Scotiabank increased their target price on Iamgold from $22.00 to $23.00 and gave the company a “sector perform” rating in a report on Wednesday, August 12th. Zacks Research cut Iamgold from a “hold” rating to a “strong sell” rating in a research note on Tuesday, October 20th. Finally, Royal Bank Of Canada lifted their price target on Iamgold from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Iamgold has an average rating of “Moderate Buy” and a consensus price target of $22.71.

About Iamgold

IAMGOLD Corporation is a Canadian mining company focused on the exploration, development and production of gold. Headquartered in Toronto, the company operates primarily in Canada and maintains a portfolio of gold assets at various stages of development.

IAMGOLD’s principal operating asset is the Côté Gold mine in northern Ontario, which it operates in partnership with Sumitomo Metal Mining. The company also owns the Westwood complex in Quebec, which includes underground mining and development activities.