Waratah Capital Advisors Ltd. Purchases 1,859,463 Shares of Iamgold Corporation $IAG

Waratah Capital Advisors Ltd. increased its position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 731.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 2,113,558 shares of the mining company’s stock after buying an additional 1,859,463 shares during the quarter. Iamgold makes up 0.5% of Waratah Capital Advisors Ltd.’s investment portfolio, making the stock its 22nd largest holding. Waratah Capital Advisors Ltd.’s holdings in Iamgold were worth $27,328,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of IAG. Tsfg LLC bought a new stake in Iamgold during the third quarter valued at about $26,000. Banque Transatlantique SA acquired a new position in shares of Iamgold during the 2nd quarter worth about $26,000. Tableaux LLC bought a new stake in Iamgold during the 2nd quarter valued at approximately $61,000. Olympiad Research LP acquired a new stake in Iamgold in the 2nd quarter valued at approximately $87,000. Finally, Kingsview Wealth Management LLC bought a new position in Iamgold in the 2nd quarter worth approximately $90,000. Institutional investors own 47.08% of the company’s stock.

Iamgold Trading Up 0.6%

Shares of IAG opened at $22.90 on Wednesday. The company has a current ratio of 1.75, a quick ratio of 1.02 and a debt-to-equity ratio of 0.15. The stock has a market cap of $13.50 billion, a PE ratio of 19.91, a PEG ratio of 0.27 and a beta of 1.36. Iamgold Corporation has a 1 year low of $5.02 and a 1 year high of $23.13. The stock has a 50 day simple moving average of $18.94 and a 200-day simple moving average of $14.54.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its earnings results on Tuesday, February 17th. The mining company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.15. The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Iamgold had a net margin of 23.29% and a return on equity of 19.26%. On average, sell-side analysts predict that Iamgold Corporation will post 0.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Scotiabank increased their price objective on Iamgold to $23.00 and gave the company a “sector perform” rating in a research report on Monday, January 26th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Iamgold in a report on Wednesday, February 4th. Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a report on Thursday, January 22nd. TD Securities reiterated a “buy” rating on shares of Iamgold in a research note on Thursday, February 19th. Finally, Wall Street Zen upgraded Iamgold from a “buy” rating to a “strong-buy” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.25.

Iamgold 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.