190,258 Shares in Iamgold Corporation $IAG Purchased by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. bought a new position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 190,258 shares of the mining company’s stock, valued at approximately $3,008,000.

A number of other hedge funds have also added to or reduced their stakes in IAG. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Iamgold in the fourth quarter worth about $30,000. Global Retirement Partners LLC purchased a new position in Iamgold during the fourth quarter valued at approximately $33,000. Western Wealth Management LLC purchased a new position in Iamgold during the first quarter valued at approximately $43,000. EverSource Wealth Advisors LLC increased its holdings in Iamgold by 73.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,712 shares of the mining company’s stock worth $51,000 after acquiring an additional 1,150 shares during the period. 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 worth $49,000 after acquiring an additional 2,570 shares during the period. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Iamgold Trading Up 1.6%

IAG stock opened at $22.16 on Wednesday. The company has a market capitalization of $12.72 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 1.16 and a beta of 1.32. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.05 and a current ratio of 1.71. Iamgold Corporation has a one year low of $8.86 and a one year high of $24.87. The company’s 50 day moving average price is $16.43 and its two-hundred day moving average price is $18.05.

Iamgold (NYSE:IAG) (TSE:IMG) last released its earnings results on Thursday, August 6th. The mining company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $845.97 million for the quarter, compared to analyst estimates of $882.92 million. Iamgold had a net margin of 31.40% and a return on equity of 28.97%. As a group, analysts predict that Iamgold Corporation will post 1.92 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IAG has been the subject of several analyst reports. Wall Street Zen raised shares of Iamgold from a “hold” rating to a “buy” rating in a report on Saturday. Bank of America dropped 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. Weiss Ratings cut Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Scotiabank upped their target price on Iamgold from $22.00 to $23.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 12th. Finally, Jefferies Financial Group initiated coverage on Iamgold in a research report on Thursday, August 20th. They set a “buy” rating and a $24.00 price target for the company. Two equities 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’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

About Iamgold

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.