Regal Partners Ltd bought a new stake in shares of Iamgold Corporation (NYSE:IAG – Free Report) (TSE:IMG) in the 1st quarter, Holdings Channel.com reports. The fund bought 86,206 shares of the mining company’s stock, valued at approximately $1,622,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mariner LLC lifted its holdings in shares of Iamgold by 0.6% in the fourth quarter. Mariner LLC now owns 110,033 shares of the mining company’s stock valued at $1,814,000 after purchasing an additional 615 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its position in shares of Iamgold by 1.9% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 37,000 shares of the mining company’s stock worth $612,000 after purchasing an additional 700 shares during the last quarter. Public Employees Retirement System of Ohio lifted its stake in Iamgold by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 220,452 shares of the mining company’s stock valued at $2,849,000 after buying an additional 1,303 shares in the last quarter. Northwest & Ethical Investments L.P. lifted its stake in Iamgold by 0.4% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 343,605 shares of the mining company’s stock valued at $5,716,000 after buying an additional 1,424 shares in the last quarter. Finally, Franklin Resources Inc. grew its holdings in Iamgold by 4.8% during the 4th quarter. Franklin Resources Inc. now owns 32,011 shares of the mining company’s stock valued at $528,000 after buying an additional 1,474 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.
Analysts Set New Price Targets
IAG has been the subject of a number of analyst reports. Bank of America cut their price target on Iamgold from $22.50 to $21.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Wall Street Zen cut Iamgold from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Scotiabank decreased their price target on shares of Iamgold from $25.00 to $22.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. Weiss Ratings downgraded shares of Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 9th. Finally, Royal Bank Of Canada reduced their price objective on shares of Iamgold from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.
Iamgold Trading Down 2.9%
NYSE IAG opened at $14.28 on Wednesday. The company has a market cap of $8.20 billion, a P/E ratio of 8.30, a P/E/G ratio of 0.65 and a beta of 1.30. Iamgold Corporation has a 12 month low of $6.69 and a 12 month high of $24.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.89 and a quick ratio of 1.21. The company has a 50-day moving average of $16.00 and a 200-day moving average of $18.22.
Iamgold (NYSE:IAG – Get Free Report) (TSE:IMG) last released its earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.14. Iamgold had a net margin of 29.49% and a return on equity of 26.65%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $955.17 million. As a group, equities analysts predict that Iamgold Corporation will post 1.98 earnings per share for the current year.
Iamgold Company Profile
IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.
The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.
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