Franklin Resources Inc. Has $28.13 Million Position in Iamgold Corporation (IAG)
Franklin Resources Inc. boosted its position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 1.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,452,000 shares of the mining company’s stock after acquiring an additional 65,000 shares during the period. Franklin Resources Inc. owned 1.17% of Iamgold Corporation worth $28,132,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. AGF Investments Inc. lifted its position in Iamgold Corporation by 1,868.1% during the second quarter. AGF Investments Inc. now owns 213,600 shares of the mining company’s stock valued at $1,102,000 after acquiring an additional 202,747 shares during the last quarter. Morgan Stanley lifted its position in Iamgold Corporation by 204.3% during the first quarter. Morgan Stanley now owns 2,237,001 shares of the mining company’s stock valued at $8,949,000 after acquiring an additional 1,501,873 shares during the last quarter. FMR LLC purchased a new stake in Iamgold Corporation during the first quarter valued at approximately $4,943,000. SG Americas Securities LLC lifted its position in Iamgold Corporation by 11.7% during the second quarter. SG Americas Securities LLC now owns 452,121 shares of the mining company’s stock valued at $2,333,000 after acquiring an additional 47,485 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Iamgold Corporation by 3.9% during the first quarter. Vanguard Group Inc. now owns 8,653,597 shares of the mining company’s stock valued at $34,615,000 after acquiring an additional 326,515 shares during the last quarter. 56.35% of the stock is owned by institutional investors.
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A number of equities research analysts recently commented on IAG shares. Zacks Investment Research cut shares of Iamgold Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. ValuEngine raised shares of Iamgold Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, May 23rd. BidaskClub raised shares of Iamgold Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 19th. Royal Bank Of Canada set a $6.00 price target on shares of Iamgold Corporation and gave the stock a “hold” rating in a report on Thursday, June 8th. Finally, Raymond James Financial, Inc. reaffirmed a “market perform” rating and issued a $6.00 price target on shares of Iamgold Corporation in a report on Thursday, June 15th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $6.82.
Shares of Iamgold Corporation (NYSE:IAG) opened at 6.33 on Tuesday. The stock has a 50 day moving average of $6.05 and a 200 day moving average of $4.87. Iamgold Corporation has a 12 month low of $3.14 and a 12 month high of $7.25. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 5.77 and a beta of -0.40.
Iamgold Corporation (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Wednesday, August 9th. The mining company reported $0.01 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.01. Iamgold Corporation had a net margin of 46.75% and a return on equity of 1.43%. The business had revenue of $274.50 million for the quarter, compared to analysts’ expectations of $267.07 million. During the same period in the prior year, the company posted $0.01 EPS. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, equities research analysts expect that Iamgold Corporation will post $0.05 EPS for the current fiscal year.
About Iamgold Corporation
IAMGOLD Corporation (IAMGOLD) is engaged primarily in the exploration for, and the development and production of, mineral resource properties throughout the world. Through its holdings, IAMGOLD has interests in various operations, exploration and development properties. IAMGOLD is a mid-tier mining company with approximately four operating gold mines on over three continents.
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