40,895 Shares in Iamgold Corporation $IAG Purchased by Sigma Planning Corp

Sigma Planning Corp bought a new position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 40,895 shares of the mining company’s stock, valued at approximately $770,000.

A number of other hedge funds have also added to or reduced their stakes in IAG. Royal Bank of Canada lifted its holdings in shares of Iamgold by 14.0% in the first quarter. Royal Bank of Canada now owns 691,322 shares of the mining company’s stock worth $4,321,000 after buying an additional 84,939 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Iamgold by 6.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,420,263 shares of the mining company’s stock worth $15,127,000 after acquiring an additional 144,160 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Iamgold by 67.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,005,292 shares of the mining company’s stock worth $6,283,000 after purchasing an additional 404,645 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Iamgold by 64.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 228,257 shares of the mining company’s stock worth $1,678,000 after purchasing an additional 89,197 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Iamgold by 16.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 532,137 shares of the mining company’s stock valued at $3,899,000 after purchasing an additional 77,016 shares during the period. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on IAG shares. Zacks Research lowered shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Royal Bank Of Canada lowered their price objective on Iamgold from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Bank of America dropped their price objective on Iamgold from $22.50 to $21.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Scotiabank reduced their target price on Iamgold from $25.00 to $22.00 and set a “sector perform” rating for the company in a research report on Tuesday, July 14th. Finally, Weiss Ratings lowered Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

Iamgold Trading Down 0.1%

Shares of Iamgold stock opened at $14.12 on Monday. 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 Corporation has a 1 year low of $6.69 and a 1 year high of $24.87. The firm has a market cap of $8.11 billion, a PE ratio of 8.21, a PEG ratio of 0.61 and a beta of 1.30. The company has a 50 day simple moving average of $16.46 and a two-hundred day simple moving average of $18.31.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $955.17 million. Iamgold had a net margin of 29.49% and a return on equity of 26.65%. Analysts expect that Iamgold Corporation will post 2.05 earnings per share for the current fiscal year.

Iamgold Profile

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.