Jupiter Topco LLC Acquires New Holdings in Iamgold Corporation $IAG

Jupiter Topco LLC bought a new stake in Iamgold Corporation (NYSE:IAG – Free Report) (TSE:IMG) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 357,595 shares of the mining company’s stock, valued at approximately $5,664,000. Jupiter Topco LLC owned approximately 0.06% of Iamgold at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Banque Transatlantique SA acquired a new position in shares of Iamgold during the second quarter worth $26,000. Pin Oak Investment Advisors Inc. acquired a new stake in shares of Iamgold during the 4th quarter valued at $30,000. Global Retirement Partners LLC acquired a new stake in shares of Iamgold during the 4th quarter valued at $33,000. Western Wealth Management LLC bought a new stake in Iamgold during the 1st quarter worth $43,000. Finally, Banque Cantonale Vaudoise grew its position in Iamgold by 617.8% during the 4th quarter. Banque Cantonale Vaudoise now owns 2,986 shares of the mining company’s stock worth $49,000 after acquiring an additional 2,570 shares during the last quarter. Institutional investors own 47.08% of the company’s stock.

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Iamgold Stock Performance

Shares of Iamgold stock opened at $20.46 on Tuesday. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 0.10. Iamgold Corporation has a twelve month low of $8.97 and a twelve month high of $24.87. The stock has a market cap of $11.68 billion, a price-to-earnings ratio of 10.33, a P/E/G ratio of 1.09 and a beta of 1.32. The company’s fifty day moving average is $16.75 and its 200 day moving average is $18.08.

Iamgold (NYSE:IAG – Get Free Report) (TSE:IMG) last posted its quarterly earnings data on Thursday, August 6th. The mining company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. The business had revenue of $845.97 million during the quarter, compared to the consensus estimate of $882.92 million. Iamgold had a return on equity of 28.97% and a net margin of 31.40%. Sell-side analysts forecast that Iamgold Corporation will post 1.92 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Scotiabank upped their target price on Iamgold from $22.00 to $23.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 12th. Jefferies Financial Group initiated coverage on Iamgold in a research note on Thursday, August 20th. They set a “buy” rating and a $24.00 price target on the stock. Wall Street Zen upgraded Iamgold from a “hold” rating to a “buy” rating in a report on Saturday, August 22nd. Bank of America lowered their price objective on Iamgold from $22.50 to $21.00 and set a “buy” rating for the company in a research note on Thursday, July 9th. Finally, Royal Bank Of Canada dropped their price objective on shares of Iamgold from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Iamgold has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Read Our Latest Stock Report on IAG

Iamgold Company Profile

(Free Report)

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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