L1 Capital Pty Ltd Has $20.65 Million Stake in Iamgold Corporation $IAG

L1 Capital Pty Ltd lifted its holdings in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 961.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,252,077 shares of the mining company’s stock after acquiring an additional 1,134,119 shares during the period. Iamgold accounts for about 1.1% of L1 Capital Pty Ltd’s portfolio, making the stock its 16th biggest position. L1 Capital Pty Ltd’s holdings in Iamgold were worth $20,647,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Wells Fargo & Company MN grew its position in shares of Iamgold by 125.3% during the 4th quarter. Wells Fargo & Company MN now owns 46,579 shares of the mining company’s stock worth $768,000 after buying an additional 25,909 shares during the period. Northwest & Ethical Investments L.P. grew its position in shares of Iamgold by 0.4% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 343,605 shares of the mining company’s stock worth $5,716,000 after buying an additional 1,424 shares during the period. Federation des caisses Desjardins du Quebec grew its position in shares of Iamgold by 26.3% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 1,450,075 shares of the mining company’s stock worth $23,877,000 after buying an additional 302,025 shares during the period. HRT Financial LP acquired a new stake in shares of Iamgold during the 4th quarter worth approximately $7,308,000. Finally, Insigneo Advisory Services LLC acquired a new stake in shares of Iamgold during the 4th quarter worth approximately $256,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Scotiabank lifted their price target on shares of Iamgold to $25.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 25th. Zacks Research cut shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. TD Securities reiterated a “buy” rating on shares of Iamgold in a research report on Thursday, February 19th. Wall Street Zen upgraded shares of Iamgold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Finally, Weiss Ratings cut shares of Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Iamgold has an average rating of “Moderate Buy” and an average target price of $17.75.

Iamgold Stock Up 2.9%

Iamgold stock opened at $16.60 on Friday. The company’s 50 day simple moving average is $17.67 and its 200 day simple moving average is $18.28. Iamgold Corporation has a fifty-two week low of $6.69 and a fifty-two week high of $24.87. The firm has a market capitalization of $9.60 billion, a price-to-earnings ratio of 9.65, a PEG ratio of 0.78 and a beta of 1.25. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.89 and a quick ratio of 1.21.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Tuesday, May 5th. The mining company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.14. Iamgold had a net margin of 29.49% and a return on equity of 26.65%. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $955.17 million. As a group, sell-side analysts anticipate that Iamgold Corporation will post 2.27 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.