American Century Companies Inc. Purchases 1,270,608 Shares of IAMGOLD Co. (NYSE:IAG)

American Century Companies Inc. raised its position in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 28.6% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 5,708,298 shares of the mining company’s stock after acquiring an additional 1,270,608 shares during the period. American Century Companies Inc.’s holdings in IAMGOLD were worth $21,423,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of IAG. Dynamic Technology Lab Private Ltd acquired a new position in shares of IAMGOLD during the 4th quarter worth about $29,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of IAMGOLD during the 4th quarter worth approximately $33,000. TIAA Trust National Association bought a new position in IAMGOLD during the second quarter worth $38,000. Cetera Advisors LLC bought a new stake in shares of IAMGOLD during the 1st quarter worth about $50,000. Finally, Banque Cantonale Vaudoise bought a new stake in shares of IAMGOLD during the second quarter worth approximately $56,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

IAMGOLD Stock Up 0.3 %

Shares of NYSE IAG opened at $5.31 on Friday. The stock has a market capitalization of $3.02 billion, a P/E ratio of 18.95 and a beta of 1.58. The stock’s fifty day moving average is $4.61 and its 200 day moving average is $4.00. IAMGOLD Co. has a 52 week low of $1.99 and a 52 week high of $5.57. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.90 and a current ratio of 1.34.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.08. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. The company had revenue of $385.30 million during the quarter. During the same period last year, the company posted ($0.01) EPS. Sell-side analysts forecast that IAMGOLD Co. will post 0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

IAMGOLD Profile

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.