Iamgold Corporation $IAG Shares Bought by Sigma Planning Corp

Sigma Planning Corp grew its position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 93.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 80,462 shares of the mining company’s stock after buying an additional 38,802 shares during the quarter. Sigma Planning Corp’s holdings in Iamgold were worth $1,481,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in IAG. Signaturefd LLC grew its stake in Iamgold by 23.9% during the 3rd quarter. Signaturefd LLC now owns 11,154 shares of the mining company’s stock worth $205,000 after buying an additional 2,155 shares during the last quarter. U S Global Investors Inc. increased its position in Iamgold by 1.0% during the third quarter. U S Global Investors Inc. now owns 887,130 shares of the mining company’s stock worth $16,332,000 after buying an additional 8,644 shares during the period. SBI Securities Co. Ltd. acquired a new position in Iamgold during the third quarter worth approximately $66,000. Cardinal Point Capital Management ULC purchased a new stake in Iamgold in the third quarter valued at approximately $356,000. Finally, Net Worth Advisory Group purchased a new stake in Iamgold in the third quarter valued at approximately $259,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Iamgold Price Performance

Shares of NYSE:IAG opened at $17.27 on Thursday. The company has a 50-day simple moving average of $19.24 and a 200-day simple moving average of $18.37. Iamgold Corporation has a one year low of $10.87 and a one year high of $24.87. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.05 and a current ratio of 1.71. The stock has a market capitalization of $9.79 billion, a price-to-earnings ratio of 8.72, a PEG ratio of 1.21 and a beta of 1.41.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its earnings results on Thursday, August 6th. The mining company reported $0.42 earnings per share for the quarter, hitting the consensus estimate of $0.42. Iamgold had a net margin of 31.40% and a return on equity of 28.97%. The business had revenue of $845.97 million during the quarter, compared to the consensus estimate of $882.92 million. On average, analysts predict that Iamgold Corporation will post 1.83 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on IAG shares. Wall Street Zen downgraded Iamgold from a “buy” rating to a “hold” rating in a report on Saturday, September 19th. Jefferies Financial Group initiated coverage on shares of Iamgold in a research report on Thursday, August 20th. They set a “buy” rating and a $24.00 target price on the stock. Royal Bank Of Canada lifted their target price on shares of Iamgold from $20.00 to $23.00 and gave the company an “outperform” rating in a report on Wednesday, September 16th. Freedom Broker cut their target price on shares of Iamgold from $23.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, October 22nd. Finally, Bank of America reduced their price target on shares of Iamgold from $22.50 to $21.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Iamgold has a consensus rating of “Moderate Buy” and a consensus price target of $22.71.

About Iamgold

IAMGOLD Corporation is a Canadian mining company focused on the exploration, development and production of gold. Headquartered in Toronto, the company operates primarily in Canada and maintains a portfolio of gold assets at various stages of development.

IAMGOLD’s principal operating asset is the Côté Gold mine in northern Ontario, which it operates in partnership with Sumitomo Metal Mining. The company also owns the Westwood complex in Quebec, which includes underground mining and development activities.