Y Intercept Hong Kong Ltd Increases Holdings in Iamgold Corporation (NYSE:IAG)

Y Intercept Hong Kong Ltd grew its holdings in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 533.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 213,134 shares of the mining company’s stock after acquiring an additional 179,504 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Iamgold were worth $1,332,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Alpha Omega Wealth Management LLC bought a new stake in shares of Iamgold in the first quarter worth about $75,000. Ritholtz Wealth Management bought a new stake in shares of Iamgold in the first quarter worth about $94,000. Tudor Investment Corp ET AL increased its holdings in shares of Iamgold by 63.3% in the fourth quarter. Tudor Investment Corp ET AL now owns 18,986 shares of the mining company’s stock worth $98,000 after purchasing an additional 7,359 shares during the last quarter. Bank of Nova Scotia bought a new stake in shares of Iamgold in the fourth quarter worth about $101,000. Finally, CenterBook Partners LP increased its holdings in shares of Iamgold by 75.8% in the fourth quarter. CenterBook Partners LP now owns 19,691 shares of the mining company’s stock worth $102,000 after purchasing an additional 8,491 shares during the last quarter. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on IAG shares. BMO Capital Markets assumed coverage on Iamgold in a research report on Wednesday, April 16th. They set an “outperform” rating for the company. Raymond James Financial upgraded Iamgold to a “hold” rating and set a $8.00 price target for the company in a report on Monday, June 30th. Scotiabank upped their target price on Iamgold from $7.50 to $7.75 and gave the stock a “sector perform” rating in a report on Monday, May 12th. CIBC restated an “outperform” rating on shares of Iamgold in a report on Tuesday, July 15th. Finally, National Bankshares restated an “outperform” rating on shares of Iamgold in a report on Tuesday, June 24th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.53.

Iamgold Stock Performance

NYSE:IAG opened at $7.27 on Thursday. The company has a fifty day simple moving average of $7.15 and a two-hundred day simple moving average of $6.56. The company has a market cap of $4.18 billion, a price-to-earnings ratio of 5.16, a price-to-earnings-growth ratio of 0.36 and a beta of 1.15. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.29. Iamgold Corporation has a 52 week low of $3.44 and a 52 week high of $8.38.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. Iamgold had a return on equity of 9.26% and a net margin of 45.42%. The business had revenue of $457.23 million for the quarter, compared to the consensus estimate of $578.70 million. As a group, equities analysts anticipate that Iamgold Corporation will post 0.67 earnings per share 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.