Walleye Capital LLC acquired a new position in shares of Iamgold Corporation (NYSE:IAG – Free Report) (TSE:IMG) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 818,721 shares of the mining company’s stock, valued at approximately $12,969,000. Walleye Capital LLC owned about 0.14% of Iamgold at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of IAG. Banque Transatlantique SA acquired a new stake in Iamgold in the second quarter valued at $26,000. Pin Oak Investment Advisors Inc. acquired a new position in shares of Iamgold during the 4th quarter worth about $30,000. Global Retirement Partners LLC acquired a new position in shares of Iamgold during the 4th quarter worth about $33,000. Western Wealth Management LLC purchased a new position in shares of Iamgold in the 1st quarter valued at about $43,000. Finally, Banque Cantonale Vaudoise increased its holdings in shares of Iamgold by 617.8% in the 4th quarter. Banque Cantonale Vaudoise now owns 2,986 shares of the mining company’s stock valued at $49,000 after acquiring an additional 2,570 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.
Analysts Set New Price Targets
Several research firms recently weighed in on IAG. Bank of America decreased their target price on Iamgold from $22.50 to $21.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Royal Bank Of Canada dropped their price target 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. Weiss Ratings cut shares of Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 9th. Wall Street Zen cut shares of Iamgold from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Scotiabank increased their target price on shares of Iamgold from $22.00 to $23.00 and gave the company a “sector perform” rating in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.20.
Iamgold Stock Up 3.1%
IAG opened at $18.30 on Friday. Iamgold Corporation has a one year low of $7.89 and a one year high of $24.87. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.05 and a current ratio of 1.71. The stock has a market capitalization of $10.51 billion, a P/E ratio of 9.24, a price-to-earnings-growth ratio of 0.94 and a beta of 1.32. The business’s 50-day simple moving average is $15.87 and its 200-day simple moving average is $18.05.
Iamgold (NYSE:IAG – Get Free Report) (TSE:IMG) last announced its earnings results on Thursday, August 6th. The mining company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The firm had revenue of $845.97 million during the quarter, compared to analysts’ expectations of $882.92 million. Iamgold had a return on equity of 28.97% and a net margin of 31.40%. Analysts anticipate that Iamgold Corporation will post 1.91 EPS for the current year.
Iamgold 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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