BTG Pactual Asset Management US LLC Buys Shares of 84,695 Iamgold Corporation $IAG

BTG Pactual Asset Management US LLC purchased a new position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the second quarter, HoldingsChannel reports. The institutional investor purchased 84,695 shares of the mining company’s stock, valued at approximately $1,342,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Iamgold during the 4th quarter valued at $30,000. Global Retirement Partners LLC purchased a new position in Iamgold in the fourth quarter worth $33,000. Western Wealth Management LLC bought a new position in Iamgold in the first quarter valued at $43,000. EverSource Wealth Advisors LLC raised its position in Iamgold by 73.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,712 shares of the mining company’s stock valued at $51,000 after purchasing an additional 1,150 shares in the last quarter. Finally, Banque Cantonale Vaudoise raised its position in Iamgold by 617.8% during the fourth quarter. Banque Cantonale Vaudoise now owns 2,986 shares of the mining company’s stock valued at $49,000 after purchasing an additional 2,570 shares in the last quarter. Institutional investors own 47.08% of the company’s stock.

Iamgold Price Performance

IAG stock opened at $20.60 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.71 and a quick ratio of 1.05. Iamgold Corporation has a 1 year low of $8.97 and a 1 year high of $24.87. The firm has a 50-day moving average of $16.68 and a 200 day moving average of $18.08. The company has a market cap of $11.83 billion, a P/E ratio of 10.40, a PEG ratio of 1.09 and a beta of 1.32.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Thursday, August 6th. The mining company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. Iamgold had a return on equity of 28.97% and a net margin of 31.40%.The business had revenue of $845.97 million during the quarter, compared to analyst estimates of $882.92 million. On average, sell-side analysts forecast that Iamgold Corporation will post 1.92 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on IAG shares. Bank of America dropped their target price on Iamgold from $22.50 to $21.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Royal Bank Of Canada decreased their price target on shares of Iamgold from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Weiss Ratings lowered shares of Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 9th. Scotiabank upped their price target on shares of Iamgold from $22.00 to $23.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 12th. Finally, Jefferies Financial Group began coverage on Iamgold in a research note on Thursday, August 20th. They issued a “buy” rating and a $24.00 target price for the company. 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $20.00.

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.