426,121 Shares in Iamgold Corporation $IAG Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) during the first quarter, HoldingsChannel.com reports. The firm bought 426,121 shares of the mining company’s stock, valued at approximately $8,020,000.

Several other large investors also recently bought and sold shares of IAG. Pin Oak Investment Advisors Inc. purchased a new position in shares of Iamgold in the fourth quarter valued at $30,000. Global Retirement Partners LLC purchased a new stake in shares of Iamgold in the 4th quarter worth about $33,000. FNY Investment Advisers LLC acquired a new stake in Iamgold in the 4th quarter valued at about $38,000. LOM Asset Management Ltd acquired a new stake in Iamgold in the 4th quarter valued at about $49,000. Finally, Banque Cantonale Vaudoise increased its holdings in Iamgold by 617.8% during 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 in the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on IAG shares. Zacks Research downgraded shares of Iamgold from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Weiss Ratings cut shares of Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.75.

Iamgold Stock Down 0.2%

Shares of NYSE:IAG opened at $16.53 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.12. Iamgold Corporation has a 52-week low of $6.69 and a 52-week high of $24.87. The stock’s fifty day simple moving average is $16.89 and its 200-day simple moving average is $18.42. The company has a market capitalization of $9.56 billion, a P/E ratio of 9.61, a P/E/G ratio of 0.80 and a beta of 1.30.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Tuesday, May 5th. The mining company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $955.17 million. Iamgold had a return on equity of 26.65% and a net margin of 29.49%. As a group, equities research analysts forecast that Iamgold Corporation will post 2.27 earnings per share for the current fiscal year.

Iamgold Company 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.