426,121 Shares in Iamgold Corporation $IAG Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd purchased a new stake in Iamgold Corporation (NYSE:IAG) (TSE:IMG) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 426,121 shares of the mining company’s stock, valued at approximately $8,020,000. Y Intercept Hong Kong Ltd owned approximately 0.07% of Iamgold at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Mariner LLC boosted its holdings in shares of Iamgold by 0.6% in the 4th quarter. Mariner LLC now owns 110,033 shares of the mining company’s stock valued at $1,814,000 after buying an additional 615 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA boosted its stake in Iamgold by 1.9% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 37,000 shares of the mining company’s stock valued at $612,000 after acquiring an additional 700 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Iamgold by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 220,452 shares of the mining company’s stock worth $2,849,000 after purchasing an additional 1,303 shares during the last quarter. Northwest & Ethical Investments L.P. grew its holdings in shares of Iamgold by 0.4% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 343,605 shares of the mining company’s stock worth $5,716,000 after purchasing an additional 1,424 shares during the last quarter. Finally, Franklin Resources Inc. increased its position in shares of Iamgold by 4.8% during the fourth quarter. Franklin Resources Inc. now owns 32,011 shares of the mining company’s stock worth $528,000 after purchasing an additional 1,474 shares in the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

Iamgold Stock Performance

NYSE:IAG opened at $16.53 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.12. Iamgold Corporation has a fifty-two week low of $6.69 and a fifty-two week high of $24.87. The stock has a market cap of $9.56 billion, a PE ratio of 9.61, a price-to-earnings-growth ratio of 0.80 and a beta of 1.30. The firm’s fifty day simple moving average is $16.89 and its 200-day simple moving average is $18.42.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $955.17 million. Iamgold had a net margin of 29.49% and a return on equity of 26.65%. Analysts expect that Iamgold Corporation will post 2.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on IAG shares. Weiss Ratings cut Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th. Zacks Research downgraded Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $17.75.

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.