Prescott Group Capital Management L.L.C. Takes $441,000 Position in Iamgold Corporation $IAG

Prescott Group Capital Management L.L.C. purchased a new position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 60,000 shares of the mining company’s stock, valued at approximately $441,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its position in shares of Iamgold by 272.9% during the 2nd quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company’s stock valued at $26,000 after acquiring an additional 2,623 shares during the period. Summit Securities Group LLC acquired a new position in Iamgold in the first quarter valued at about $35,000. Avantax Advisory Services Inc. acquired a new position in Iamgold in the first quarter valued at about $86,000. Campbell & CO Investment Adviser LLC bought a new stake in Iamgold during the second quarter worth about $90,000. Finally, Vident Advisory LLC bought a new stake in Iamgold during the first quarter worth about $92,000. Institutional investors own 47.08% of the company’s stock.

Iamgold Price Performance

IAG stock opened at $12.68 on Friday. The stock has a market cap of $7.30 billion, a price-to-earnings ratio of 9.12, a P/E/G ratio of 0.39 and a beta of 1.22. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.47 and a quick ratio of 0.76. The company has a 50 day simple moving average of $11.92 and a 200 day simple moving average of $8.93. Iamgold Corporation has a 1 year low of $4.89 and a 1 year high of $14.67.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its earnings results on Tuesday, November 4th. The mining company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. The firm had revenue of $714.61 million for the quarter, compared to analyst estimates of $759.45 million. Iamgold had a net margin of 40.61% and a return on equity of 8.54%. Research analysts anticipate that Iamgold Corporation will post 0.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

IAG has been the topic of several recent analyst reports. Wall Street Zen raised shares of Iamgold from a “hold” rating to a “buy” rating in a report on Saturday. CIBC increased their price target on shares of Iamgold from $10.40 to $19.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Stifel Canada upgraded shares of Iamgold from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Zacks Research cut Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Iamgold in a report on Wednesday, October 8th. Three analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Iamgold presently has an average rating of “Buy” and a consensus target price of $15.25.

Iamgold Company Profile

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.