Signition LP acquired a new position in shares of Iamgold Corp (NYSE:IAG) (TSE:IMG) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 33,000 shares of the mining company’s stock, valued at approximately $115,000.
Several other institutional investors also recently made changes to their positions in the company. Moors & Cabot Inc. acquired a new position in shares of Iamgold during the first quarter worth about $34,000. Tocqueville Asset Management L.P. lifted its stake in Iamgold by 42.8% during the first quarter. Tocqueville Asset Management L.P. now owns 11,820,300 shares of the mining company’s stock worth $41,016,000 after purchasing an additional 3,540,900 shares during the last quarter. First Republic Investment Management Inc. purchased a new stake in Iamgold during the first quarter worth approximately $92,000. SG Americas Securities LLC purchased a new stake in Iamgold during the first quarter worth approximately $418,000. Finally, K.J. Harrison & Partners Inc purchased a new stake in Iamgold during the first quarter worth approximately $35,000. 59.00% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE IAG opened at $2.38 on Friday. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.18 and a quick ratio of 3.57. Iamgold Corp has a twelve month low of $2.33 and a twelve month high of $6.33. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 39.67, a PEG ratio of 19.76 and a beta of -0.41.
Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Wednesday, February 20th. The mining company reported ($0.03) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.02). Iamgold had a negative net margin of 10.67% and a negative return on equity of 0.43%. The firm had revenue of $274.30 million during the quarter, compared to analysts’ expectations of $273.84 million. During the same quarter in the prior year, the firm posted ($0.03) EPS. Iamgold’s quarterly revenue was down 5.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Iamgold Corp will post 0.04 earnings per share for the current year.
IAG has been the subject of several recent analyst reports. Desjardins upgraded Iamgold from a “hold” rating to a “buy” rating in a research note on Monday, January 28th. Canaccord Genuity restated a “buy” rating on shares of Iamgold in a research note on Friday, February 15th. BMO Capital Markets set a $5.00 target price on Iamgold and gave the stock a “buy” rating in a research note on Saturday, February 2nd. National Bank Financial restated a “buy” rating on shares of Iamgold in a research note on Friday, January 18th. Finally, Zacks Investment Research upgraded Iamgold from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research note on Thursday, January 17th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $4.47.
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Iamgold Company Profile
IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine in Burkina Faso, West Africa; the Westwood mine in Quebec, Canada; and the Sadiola mine located in Mali, West Africa.
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