Olympiad Research LP Acquires Shares of 11,836 Iamgold Corporation $IAG

Olympiad Research LP bought a new position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 11,836 shares of the mining company’s stock, valued at approximately $87,000.

A number of other hedge funds have also bought and sold shares of the business. U S Global Investors Inc. raised its stake in Iamgold by 150.0% in the second quarter. U S Global Investors Inc. now owns 500,000 shares of the mining company’s stock valued at $3,675,000 after purchasing an additional 300,000 shares in the last quarter. Mudita Advisors LLP increased its holdings in Iamgold by 41.1% in the 1st quarter. Mudita Advisors LLP now owns 2,081,400 shares of the mining company’s stock valued at $13,002,000 after buying an additional 606,795 shares during the period. Harvest Portfolios Group Inc. raised its position in shares of Iamgold by 42.6% in the 2nd quarter. Harvest Portfolios Group Inc. now owns 130,294 shares of the mining company’s stock valued at $960,000 after buying an additional 38,945 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Iamgold by 28.0% during the 1st quarter. Cerity Partners LLC now owns 75,250 shares of the mining company’s stock worth $470,000 after acquiring an additional 16,475 shares during the period. Finally, Bornite Capital Management LP acquired a new stake in shares of Iamgold during the 2nd quarter worth approximately $34,089,000. 47.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Scotiabank upped their target price on Iamgold from $8.50 to $15.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. Zacks Research cut Iamgold from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. Wall Street Zen raised shares of Iamgold from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Weiss Ratings reissued a “buy (b)” rating on shares of Iamgold in a research note on Wednesday, October 8th. Finally, CIBC boosted their target price on Iamgold from $10.40 to $19.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. Three research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Iamgold currently has a consensus rating of “Buy” and an average price target of $15.25.

Iamgold Stock Down 0.3%

Iamgold stock opened at $13.74 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.76 and a current ratio of 1.47. The stock has a market cap of $7.91 billion, a PE ratio of 9.89, a price-to-earnings-growth ratio of 0.39 and a beta of 1.22. Iamgold Corporation has a fifty-two week low of $4.93 and a fifty-two week high of $14.68. The firm’s 50-day simple moving average is $12.34 and its 200 day simple moving average is $9.14.

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

About Iamgold

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.