Lbp Am Sa Makes New $297,000 Investment in Iamgold Corporation $IAG

Lbp Am Sa acquired a new stake in Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 22,990 shares of the mining company’s stock, valued at approximately $297,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Royal Bank of Canada grew its stake in Iamgold by 14.0% in the 1st quarter. Royal Bank of Canada now owns 691,322 shares of the mining company’s stock worth $4,321,000 after acquiring an additional 84,939 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Iamgold by 6.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,420,263 shares of the mining company’s stock worth $15,127,000 after purchasing an additional 144,160 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Iamgold by 67.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,005,292 shares of the mining company’s stock valued at $6,283,000 after purchasing an additional 404,645 shares during the period. Public Employees Retirement System of Ohio increased its stake in Iamgold by 9.8% in the second quarter. Public Employees Retirement System of Ohio now owns 219,149 shares of the mining company’s stock valued at $1,611,000 after purchasing an additional 19,588 shares during the last quarter. Finally, Ninety One UK Ltd lifted its position in Iamgold by 127.7% during the second quarter. Ninety One UK Ltd now owns 5,347,405 shares of the mining company’s stock worth $39,303,000 after buying an additional 2,998,882 shares during the period. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on IAG shares. Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a report on Thursday, January 22nd. Scotiabank raised their target price on shares of Iamgold to $23.00 and gave the stock a “sector perform” rating in a research report on Monday. Wall Street Zen upgraded shares of Iamgold from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. CIBC increased their price target on shares of Iamgold from $10.40 to $19.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Finally, Zacks Research lowered shares of Iamgold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $17.25.

Iamgold Price Performance

Shares of IAG stock opened at $22.08 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.95 and a current ratio of 1.68. Iamgold Corporation has a fifty-two week low of $5.02 and a fifty-two week high of $22.23. The firm has a market cap of $13.05 billion, a P/E ratio of 36.80, a P/E/G ratio of 0.31 and a beta of 1.38. The business’s 50 day moving average price is $16.76 and its 200-day moving average price is $12.68.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates 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 10.39% and a net margin of 15.39%. On average, equities research analysts anticipate that Iamgold Corporation will post 0.67 earnings per share for the current 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.