Edmond DE Rothschild Holding S.A. Makes New Investment in Iamgold Corporation $IAG

Edmond DE Rothschild Holding S.A. bought a new stake in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 420,331 shares of the mining company’s stock, valued at approximately $6,658,000. Edmond DE Rothschild Holding S.A. owned about 0.07% of Iamgold as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Mariner LLC grew its stake in shares of Iamgold by 0.6% during the fourth quarter. Mariner LLC now owns 110,033 shares of the mining company’s stock worth $1,814,000 after purchasing an additional 615 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its holdings 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 purchasing an additional 700 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Iamgold by 73.6% in the first quarter. EverSource Wealth Advisors LLC now owns 2,712 shares of the mining company’s stock valued at $51,000 after buying an additional 1,150 shares during the period. Public Employees Retirement System of Ohio lifted its stake in Iamgold by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 220,452 shares of the mining company’s stock valued at $2,849,000 after buying an additional 1,303 shares during the period. Finally, Northwest & Ethical Investments L.P. lifted its stake in Iamgold by 0.4% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 343,605 shares of the mining company’s stock valued at $5,716,000 after buying an additional 1,424 shares during the period. Institutional investors and hedge funds own 47.08% of the company’s stock.

Iamgold Stock Performance

Shares of Iamgold stock opened at $19.75 on Thursday. The stock’s fifty day simple moving average is $16.09 and its 200 day simple moving average is $17.97. The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $11.35 billion, a PE ratio of 9.98, a PEG ratio of 0.97 and a beta of 1.32. Iamgold Corporation has a 12 month low of $8.04 and a 12 month high of $24.87.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its earnings results on Thursday, August 6th. The mining company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. Iamgold had a return on equity of 28.97% and a net margin of 31.40%.The firm had revenue of $845.97 million during the quarter, compared to analysts’ expectations of $882.92 million. On average, research analysts predict that Iamgold Corporation will post 1.91 EPS for the current year.

Wall Street Analysts Forecast Growth

IAG has been the subject of several analyst reports. Bank of America decreased 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. Weiss Ratings downgraded shares of Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Scotiabank lifted their price objective on shares of Iamgold from $22.00 to $23.00 and gave the stock a “sector perform” rating in a research note on Wednesday, August 12th. Royal Bank Of Canada decreased their price objective on shares of Iamgold from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Finally, Wall Street Zen cut shares of Iamgold from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $19.20.

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.