William Blair Investment Management LLC Makes New $11.31 Million Investment in Iamgold Corporation $IAG

William Blair Investment Management LLC bought a new position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 714,288 shares of the mining company’s stock, valued at approximately $11,314,000.

A number of other large investors have also recently made changes to their positions in IAG. Walleye Capital LLC bought a new stake in Iamgold during the 2nd quarter worth approximately $12,969,000. PKO Investment Management Joint Stock Co lifted its stake in Iamgold by 42.1% in the 4th quarter. PKO Investment Management Joint Stock Co now owns 270,000 shares of the mining company’s stock worth $4,464,000 after purchasing an additional 80,000 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Iamgold by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 23,836,156 shares of the mining company’s stock valued at $393,328,000 after purchasing an additional 1,068,465 shares during the period. Bank of America Corp DE boosted its holdings in Iamgold by 4.7% in the 1st quarter. Bank of America Corp DE now owns 9,589,342 shares of the mining company’s stock valued at $180,471,000 after purchasing an additional 434,188 shares during the period. Finally, L1 Capital Pty Ltd grew its position in shares of Iamgold by 961.5% during the 4th quarter. L1 Capital Pty Ltd now owns 1,252,077 shares of the mining company’s stock valued at $20,647,000 after purchasing an additional 1,134,119 shares in the last quarter. 47.08% of the stock is owned by institutional investors.

Iamgold Stock Down 0.1%

IAG opened at $21.11 on Monday. Iamgold Corporation has a 12 month low of $8.29 and a 12 month high of $24.87. The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 0.10. The business’s 50-day moving average price is $16.27 and its 200-day moving average price is $18.01. The company has a market cap of $12.12 billion, a P/E ratio of 10.66, a P/E/G ratio of 1.12 and a beta of 1.32.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its earnings results on Thursday, August 6th. The mining company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $845.97 million for the quarter, compared to the consensus estimate of $882.92 million. Iamgold had a net margin of 31.40% and a return on equity of 28.97%. On average, equities analysts expect that Iamgold Corporation will post 1.92 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on IAG shares. Weiss Ratings cut shares of Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 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. Royal Bank Of Canada reduced their target price on Iamgold from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Jefferies Financial Group assumed coverage on Iamgold in a report on Thursday. They issued a “buy” rating and a $24.00 price target on the stock. Finally, Scotiabank lifted their price target on Iamgold from $22.00 to $23.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Iamgold Company 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.