Concert Wealth Management Inc. held its position in shares of Iamgold Corp. (NYSE:IAG) during the second quarter, Holdings Channel reports. The institutional investor owned 30,000 shares of the mining company’s stock at the end of the second quarter. Concert Wealth Management Inc.’s holdings in Iamgold Corp. were worth $124,000 as of its most recent filing with the SEC.
Several other institutional investors have also recently made changes to their positions in IAG. ING Groep NV bought a new position in Iamgold Corp. during the second quarter valued at about $114,000. NEXT Financial Group Inc bought a new position in Iamgold Corp. during the second quarter valued at about $164,000. BNP Paribas Arbitrage SA raised its stake in shares of Iamgold Corp. by 38.3% in the second quarter. BNP Paribas Arbitrage SA now owns 217,253 shares of the mining company’s stock worth $963,000 after buying an additional 60,188 shares in the last quarter. HBK Investments L P acquired a new stake in shares of Iamgold Corp. during the first quarter worth $612,000. Finally, CIBC World Markets Inc. raised its stake in shares of Iamgold Corp. by 17.3% in the second quarter. CIBC World Markets Inc. now owns 310,164 shares of the mining company’s stock worth $1,284,000 after buying an additional 45,821 shares in the last quarter. 48.37% of the stock is currently owned by institutional investors.
Iamgold Corp. (NYSE:IAG) traded up 1.78% during mid-day trading on Monday, reaching $3.43. The company had a trading volume of 6,857,170 shares. Iamgold Corp. has a 52 week low of $1.15 and a 52 week high of $5.87. The firm’s market capitalization is $1.39 billion. The stock’s 50-day moving average price is $3.91 and its 200 day moving average price is $3.90.
Iamgold Corp. (NYSE:IAG) last announced its quarterly earnings data on Wednesday, August 3rd. The mining company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.03. Iamgold Corp. had a negative return on equity of 5.16% and a negative net margin of 80.04%. The company had revenue of $232.50 million for the quarter, compared to analysts’ expectations of $245.68 million. During the same quarter in the prior year, the firm earned ($0.08) earnings per share. Iamgold Corp.’s revenue was up 2.6% compared to the same quarter last year. On average, equities research analysts predict that Iamgold Corp. will post $0.04 EPS for the current year.
A number of equities research analysts have recently weighed in on IAG shares. Credit Suisse Group AG upgraded Iamgold Corp. from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $3.00 to $5.25 in a research report on Thursday, June 30th. Paradigm Capital upgraded Iamgold Corp. from a “hold” rating to a “buy” rating in a research report on Monday, July 18th. Royal Bank Of Canada upgraded Iamgold Corp. from an “underperform” rating to a “sector perform” rating and lifted their price target for the company from $5.50 to $6.50 in a research report on Monday, August 8th. Scotiabank upgraded Iamgold Corp. from an “underperform” rating to a “sector perform” rating in a research report on Wednesday, July 13th. Finally, CIBC upgraded Iamgold Corp. from a “sector underperform” rating to a “sector perform” rating in a research report on Monday, June 27th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $3.61.
Iamgold Corp. Company Profile
IAMGOLD Corporation (IAMGOLD) is engaged in the exploration, development and production of mineral resource properties across the world. Through its holdings, IAMGOLD has interests in various operations and exploration properties, as well as various royalty interests on mineral resource properties. All gold produced by IAMGOLD is in the form of dore bars, which is sold to gold refineries in North America and Europe.
Want to see what other hedge funds are holding IAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Iamgold Corp. (NYSE:IAG).
Receive News & Ratings for Iamgold Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Iamgold Corp. and related companies with MarketBeat.com's FREE daily email newsletter.