Toronto Dominion Bank Purchases 198,585 Shares of IAMGOLD Co. (NYSE:IAG)

Toronto Dominion Bank lifted its position in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 512.0% in the second quarter, HoldingsChannel.com reports. The firm owned 237,372 shares of the mining company’s stock after purchasing an additional 198,585 shares during the quarter. Toronto Dominion Bank’s holdings in IAMGOLD were worth $890,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. TIAA Trust National Association purchased a new stake in IAMGOLD in the 2nd quarter worth $38,000. WINTON GROUP Ltd purchased a new stake in IAMGOLD during the 2nd quarter valued at $52,000. Banque Cantonale Vaudoise purchased a new position in shares of IAMGOLD during the second quarter valued at approximately $56,000. Cetera Advisors LLC purchased a new position in IAMGOLD during the 1st quarter valued at $50,000. Finally, Linscomb Wealth Inc. bought a new position in shares of IAMGOLD in the first quarter worth about $67,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IAG has been the subject of a number of research reports. BMO Capital Markets reaffirmed an “outperform” rating and issued a $5.00 price objective on shares of IAMGOLD in a research note on Thursday, June 6th. StockNews.com raised IAMGOLD from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. Scotiabank upped their target price on IAMGOLD from $4.75 to $5.50 and gave the company a “sector perform” rating in a research report on Monday, August 19th. Finally, CIBC increased their price target on shares of IAMGOLD from $4.90 to $5.40 and gave the stock a “neutral” rating in a report on Monday, August 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $4.73.

IAMGOLD Trading Down 1.1 %

IAG opened at $5.22 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.34 and a quick ratio of 0.90. The company’s 50 day simple moving average is $4.77 and its two-hundred day simple moving average is $4.11. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 18.64 and a beta of 1.58. IAMGOLD Co. has a 1-year low of $1.99 and a 1-year high of $5.60.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.08. The company had revenue of $385.30 million during the quarter. IAMGOLD had a return on equity of 6.70% and a net margin of 10.36%. During the same period last year, the business earned ($0.01) EPS. Analysts expect that IAMGOLD Co. will post 0.45 EPS for the current fiscal year.

About IAMGOLD

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.