Regal Partners Ltd Makes New Investment in Iamgold Corporation $IAG

Regal Partners Ltd acquired a new stake in Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 411,496 shares of the mining company’s stock, valued at approximately $5,321,000.

A number of other hedge funds also recently made changes to their positions in IAG. Tsfg LLC acquired a new position in shares of Iamgold during the third quarter worth $26,000. Banque Transatlantique SA purchased a new position in shares of Iamgold in the second quarter valued at $26,000. Tableaux LLC acquired a new stake in Iamgold during the 2nd quarter valued at $61,000. Olympiad Research LP purchased a new stake in Iamgold during the 2nd quarter worth $87,000. Finally, Stevens Capital Management LP acquired a new position in Iamgold in the 2nd quarter worth $90,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Iamgold Trading Up 0.5%

NYSE IAG opened at $21.74 on Friday. Iamgold Corporation has a 12 month low of $5.02 and a 12 month high of $24.87. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.75 and a quick ratio of 1.02. The company has a market capitalization of $12.82 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 1.73 and a beta of 1.33. The company’s fifty day moving average price is $19.90 and its two-hundred day moving average price is $15.33.

Iamgold (NYSE:IAG) (TSE:IMG) last released 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 company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. Iamgold had a net margin of 23.29% and a return on equity of 19.26%. As a group, research analysts predict that Iamgold Corporation will post 0.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director David Stewart Smith sold 31,000 shares of Iamgold stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $32.87, for a total value of $1,018,970.00. Following the completion of the transaction, the director directly owned 20,000 shares in the company, valued at approximately $657,400. This trade represents a 60.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

IAG has been the subject of a number of analyst reports. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Iamgold in a research report on Wednesday, February 4th. TD Securities reaffirmed a “buy” rating on shares of Iamgold in a research report on Thursday, February 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Iamgold in a research note on Thursday, January 22nd. Wall Street Zen raised Iamgold from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Finally, Zacks Research upgraded Iamgold from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, Iamgold has a consensus rating of “Buy” and an average target price of $17.75.

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.