Iamgold Corp (IAG) Holdings Boosted by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in Iamgold Corp (NYSE:IAG) (TSE:IMG) by 723.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,045,048 shares of the mining company’s stock after purchasing an additional 11,461,355 shares during the period. JPMorgan Chase & Co. owned about 2.80% of Iamgold worth $48,006,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in IAG. Sigma Planning Corp acquired a new position in shares of Iamgold in the 2nd quarter valued at approximately $111,000. OppenheimerFunds Inc. acquired a new stake in shares of Iamgold during the 2nd quarter valued at approximately $407,000. SG Americas Securities LLC raised its position in shares of Iamgold by 635.9% during the 3rd quarter. SG Americas Securities LLC now owns 131,823 shares of the mining company’s stock valued at $485,000 after acquiring an additional 113,909 shares in the last quarter. Cumberland Partners Ltd acquired a new stake in shares of Iamgold during the 2nd quarter valued at approximately $534,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Iamgold during the 2nd quarter valued at approximately $647,000. 57.66% of the stock is currently owned by institutional investors.

Several research firms recently issued reports on IAG. Zacks Investment Research raised Iamgold from a “sell” rating to a “hold” rating in a research report on Saturday, November 3rd. ValuEngine raised Iamgold from a “sell” rating to a “hold” rating in a research report on Wednesday, November 21st. TheStreet lowered Iamgold from a “b” rating to a “c-” rating in a research report on Friday, August 10th. Desjardins reissued a “hold” rating on shares of Iamgold in a research report on Friday, November 16th. Finally, Credit Suisse Group set a $6.00 price target on Iamgold and gave the company a “hold” rating in a research report on Thursday, November 8th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $6.68.

NYSE:IAG opened at $3.21 on Monday. Iamgold Corp has a 1 year low of $2.75 and a 1 year high of $6.52. The firm has a market capitalization of $1.50 billion, a PE ratio of 53.50, a price-to-earnings-growth ratio of 9.55 and a beta of -0.19. The company has a quick ratio of 3.40, a current ratio of 4.31 and a debt-to-equity ratio of 0.14.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Tuesday, November 6th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.01). Iamgold had a positive return on equity of 1.14% and a negative net margin of 0.98%. The company had revenue of $244.80 million during the quarter, compared to analysts’ expectations of $266.17 million. During the same quarter in the prior year, the business posted $0.07 earnings per share. The company’s revenue for the quarter was down 8.9% compared to the same quarter last year. As a group, sell-side analysts predict that Iamgold Corp will post 0.11 earnings per share for the current year.

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Iamgold Profile

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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Institutional Ownership by Quarter for Iamgold (NYSE:IAG)

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