PenderFund Capital Management Ltd. purchased a new position in Iamgold Corporation (NYSE:IAG – Free Report) (TSE:IMG) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 29,700 shares of the mining company’s stock, valued at approximately $471,000.
A number of other large investors have also recently added to or reduced their stakes in the stock. Mariner LLC increased its position in shares of Iamgold by 0.6% in the 4th quarter. Mariner LLC now owns 110,033 shares of the mining company’s stock worth $1,814,000 after purchasing an additional 615 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its stake in shares of Iamgold by 1.9% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 37,000 shares of the mining company’s stock valued at $612,000 after purchasing an additional 700 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Iamgold by 73.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,712 shares of the mining company’s stock valued at $51,000 after purchasing an additional 1,150 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in shares of Iamgold by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 220,452 shares of the mining company’s stock worth $2,849,000 after purchasing an additional 1,303 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. lifted its position in shares of Iamgold by 0.4% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 343,605 shares of the mining company’s stock worth $5,716,000 after purchasing an additional 1,424 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of research firms recently commented on IAG. Jefferies Financial Group started coverage on Iamgold in a research note on Thursday, August 20th. They issued a “buy” rating and a $24.00 price target for the company. Bank of America cut their price objective on Iamgold from $22.50 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Wall Street Zen raised Iamgold from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. Scotiabank lifted their target price on Iamgold from $22.00 to $23.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings downgraded Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 9th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Iamgold presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.
Iamgold Price Performance
Shares of IAG opened at $21.57 on Friday. Iamgold Corporation has a 12 month low of $8.86 and a 12 month high of $24.87. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.71 and a quick ratio of 1.05. The stock has a fifty day moving average price of $16.60 and a 200 day moving average price of $18.09. The company has a market cap of $12.39 billion, a P/E ratio of 10.90, a PEG ratio of 1.14 and a beta of 1.32.
Iamgold (NYSE:IAG – Get Free Report) (TSE:IMG) last posted 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. Iamgold had a return on equity of 28.97% and a net margin of 31.40%.The company had revenue of $845.97 million for the quarter, compared to analysts’ expectations of $882.92 million. On average, research analysts forecast that Iamgold Corporation will post 1.92 earnings per share 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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