E Fund Management Hong Kong Co. Ltd. Buys New Position in Iamgold Corporation $IAG

E Fund Management Hong Kong Co. Ltd. bought a new stake in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) during the 4th quarter, Holdings Channel reports. The institutional investor bought 34,211 shares of the mining company’s stock, valued at approximately $564,000.

Other hedge funds have also modified their holdings of the company. Tsfg LLC acquired a new position in shares of Iamgold in the third quarter valued at about $26,000. Banque Transatlantique SA acquired a new position in shares of Iamgold in the second quarter valued at about $26,000. FNY Investment Advisers LLC acquired a new position in shares of Iamgold in the fourth quarter valued at about $38,000. LOM Asset Management Ltd acquired a new position in shares of Iamgold in the fourth quarter valued at about $49,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Iamgold in the fourth quarter valued at about $57,000. 47.08% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Iamgold

In other Iamgold news, Director David Stewart Smith sold 31,000 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $32.87, for a total transaction of $1,018,970.00. Following the sale, the director owned 20,000 shares of the company’s stock, 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 can be accessed through this link. Company insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on IAG shares. Wall Street Zen raised Iamgold from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Iamgold in a report on Wednesday, February 4th. Scotiabank raised their target price on Iamgold to $25.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Iamgold in a report on Tuesday, April 21st. Finally, TD Securities reaffirmed a “buy” rating on shares of Iamgold in a report on Thursday, February 19th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $17.75.

Iamgold Stock Performance

Shares of Iamgold stock opened at $18.81 on Thursday. Iamgold Corporation has a one year low of $6.06 and a one year high of $24.87. The company has a market cap of $10.91 billion, a price-to-earnings ratio of 10.93, a PEG ratio of 0.93 and a beta of 1.26. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.89. The business’s 50 day moving average price is $18.88 and its 200 day moving average price is $17.68.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.14. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $955.17 million. Iamgold had a return on equity of 26.65% and a net margin of 29.49%. On average, research analysts predict that Iamgold Corporation will post 2.24 EPS for the current year.

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.