Iamgold Corp (IAG) Shares Bought by ASA Gold & Precious Metals Ltd

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ASA Gold & Precious Metals Ltd increased its stake in shares of Iamgold Corp (NYSE:IAG) (TSE:IMG) by 92.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 675,000 shares of the mining company’s stock after buying an additional 325,000 shares during the period. Iamgold comprises about 1.9% of ASA Gold & Precious Metals Ltd’s holdings, making the stock its 13th biggest position. ASA Gold & Precious Metals Ltd’s holdings in Iamgold were worth $2,484,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Van ECK Associates Corp increased its holdings in Iamgold by 4.7% during the second quarter. Van ECK Associates Corp now owns 64,001,511 shares of the mining company’s stock worth $371,849,000 after buying an additional 2,862,271 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Iamgold by 5.4% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 11,027,426 shares of the mining company’s stock worth $64,214,000 after purchasing an additional 565,927 shares in the last quarter. Tocqueville Asset Management L.P. increased its stake in shares of Iamgold by 1.1% in the second quarter. Tocqueville Asset Management L.P. now owns 8,339,177 shares of the mining company’s stock worth $48,451,000 after purchasing an additional 94,600 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Iamgold by 69.7% in the second 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 in the last quarter. Finally, Hexavest Inc. increased its stake in shares of Iamgold by 1.5% in the third quarter. Hexavest Inc. now owns 3,798,045 shares of the mining company’s stock worth $13,972,000 after purchasing an additional 56,764 shares in the last quarter. Institutional investors and hedge funds own 53.44% of the company’s stock.

IAG opened at $3.42 on Thursday. The stock has a market capitalization of $1.65 billion, a PE ratio of 57.00, a price-to-earnings-growth ratio of 9.81 and a beta of -0.31. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.72 and a quick ratio of 3.80. Iamgold Corp has a twelve month low of $3.37 and a twelve month high of $6.52.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its earnings results on Wednesday, August 8th. The mining company reported $0.03 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.02. The firm had revenue of $277.40 million during the quarter, compared to the consensus estimate of $265.13 million. Iamgold had a net margin of 2.54% and a return on equity of 2.56%. The company’s revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the company earned $0.01 earnings per share. On average, equities research analysts anticipate that Iamgold Corp will post 0.12 EPS for the current fiscal year.

IAG has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Iamgold from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. Royal Bank of Canada set a $6.00 target price on shares of Iamgold and gave the stock a “hold” rating in a research note on Thursday, October 11th. Canaccord Genuity reiterated a “buy” rating on shares of Iamgold in a research note on Sunday, October 21st. ValuEngine downgraded shares of Iamgold from a “hold” rating to a “sell” rating in a research note on Friday, August 17th. Finally, BMO Capital Markets reiterated a “buy” rating and issued a $7.00 target price on shares of Iamgold in a research note on Friday, September 21st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $7.13.

Iamgold Company 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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