Iamgold Corporation $IAG Shares Acquired by TD Asset Management Inc

TD Asset Management Inc increased its holdings in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 39.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,431,834 shares of the mining company’s stock after acquiring an additional 962,271 shares during the quarter. TD Asset Management Inc owned approximately 0.58% of Iamgold worth $56,707,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Banque Transatlantique SA acquired a new stake in shares of Iamgold during the second quarter worth approximately $26,000. Global Retirement Partners LLC acquired a new stake in shares of Iamgold during the fourth quarter worth approximately $33,000. FNY Investment Advisers LLC acquired a new stake in shares of Iamgold during the fourth quarter worth approximately $38,000. LOM Asset Management Ltd bought a new position in Iamgold during the 4th quarter valued at $49,000. Finally, Banque Cantonale Vaudoise boosted its stake in Iamgold by 617.8% during the 4th quarter. Banque Cantonale Vaudoise now owns 2,986 shares of the mining company’s stock valued at $49,000 after acquiring an additional 2,570 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Analysts Set New Price Targets

IAG has been the topic of a number of research analyst reports. Scotiabank increased their price objective on shares of Iamgold to $25.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 25th. Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a research note on Tuesday, April 21st. Wall Street Zen upgraded shares of Iamgold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. TD Securities restated a “buy” rating on shares of Iamgold in a research note on Thursday, February 19th. Finally, Zacks Research lowered shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.75.

Iamgold Stock Performance

Shares of IAG opened at $15.42 on Friday. The business’s fifty day moving average price is $17.91 and its 200 day moving average price is $18.19. Iamgold Corporation has a 12-month low of $6.69 and a 12-month high of $24.87. The stock has a market capitalization of $8.91 billion, a PE ratio of 8.96, a price-to-earnings-growth ratio of 0.83 and a beta of 1.25. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.89 and a quick ratio of 1.21.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Tuesday, May 5th. The mining company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.14. Iamgold had a return on equity of 26.65% and a net margin of 29.49%.The firm had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $955.17 million. Equities research analysts forecast that Iamgold Corporation will post 2.27 EPS for the current year.

About Iamgold

IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.

The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.