Iamgold Corporation $IAG Shares Acquired by Golden State Equity Partners

Golden State Equity Partners lifted its stake in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 250.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,000 shares of the mining company’s stock after buying an additional 50,000 shares during the quarter. Golden State Equity Partners’ holdings in Iamgold were worth $905,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of IAG. Banque Transatlantique SA acquired a new position in Iamgold in the second quarter valued at approximately $26,000. Parallel Advisors LLC increased its holdings 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 purchasing an additional 2,623 shares in the last quarter. Tableaux LLC acquired a new position in shares of Iamgold in the 2nd quarter valued at $61,000. Olympiad Research LP purchased a new stake in Iamgold during the second quarter worth $87,000. Finally, Kingsview Wealth Management LLC acquired a new stake in Iamgold during the second quarter valued at $90,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Iamgold Stock Down 1.5%

IAG opened at $16.24 on Friday. The company has a market cap of $9.65 billion, a PE ratio of 27.07, a price-to-earnings-growth ratio of 0.24 and a beta of 1.38. Iamgold Corporation has a twelve month low of $5.02 and a twelve month high of $17.91. The company has a 50-day moving average price of $14.62 and a 200 day moving average price of $11.24. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.27.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.21 by $0.09. Iamgold had a return on equity of 10.39% and a net margin of 15.39%.The company had revenue of $714.61 million during the quarter, compared to analyst estimates of $759.45 million. Sell-side analysts expect that Iamgold Corporation will post 0.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on IAG. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Iamgold in a report on Wednesday, October 8th. Zacks Research upgraded Iamgold from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 22nd. Stifel Canada raised Iamgold from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Wall Street Zen raised Iamgold from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Scotiabank boosted their price objective on Iamgold from $8.50 to $15.00 and gave the company a “sector perform” rating in a research report on Thursday, October 23rd. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $15.25.

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.