Marex Group plc Makes New $677,000 Investment in Iamgold Corporation $IAG

Marex Group plc acquired a new stake in Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 91,918 shares of the mining company’s stock, valued at approximately $677,000.

Other large investors have also recently added to or reduced their stakes in the company. State of Wyoming bought a new position in shares of Iamgold during the 2nd quarter worth approximately $201,000. L1 Capital Pty Ltd bought a new stake in shares of Iamgold in the second quarter worth $693,000. Hollencrest Capital Management acquired a new position in Iamgold during the second quarter worth $377,000. Headlands Technologies LLC bought a new position in Iamgold in the second quarter valued at $738,000. Finally, CANADA LIFE ASSURANCE Co increased its stake in Iamgold by 8.1% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 166,209 shares of the mining company’s stock valued at $1,219,000 after buying an additional 12,424 shares during the last quarter. Institutional investors own 47.08% of the company’s stock.

Wall Street Analyst Weigh In

IAG has been the subject of a number of recent research reports. Royal Bank Of Canada upgraded shares of Iamgold from a “sector perform” rating to an “outperform” rating and increased their price objective for the stock from $9.00 to $14.00 in a research note on Wednesday, September 10th. Wall Street Zen upgraded Iamgold from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Raymond James Financial raised their price target on Iamgold from $9.00 to $13.00 and gave the company a “market perform” rating in a research note on Friday, October 10th. Scotiabank upped their price objective on Iamgold from $8.50 to $15.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. Finally, CIBC raised their target price on shares of Iamgold from $10.40 to $19.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. Two research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $15.25.

Iamgold Price Performance

NYSE:IAG opened at $15.83 on Monday. Iamgold Corporation has a 12-month low of $4.98 and a 12-month high of $16.38. The firm has a market capitalization of $9.11 billion, a price-to-earnings ratio of 26.39, a P/E/G ratio of 0.43 and a beta of 1.38. The stock’s 50 day moving average price is $13.54 and its two-hundred day moving average price is $10.30. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.27.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its earnings results on Tuesday, November 4th. The mining company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.21 by $0.09. Iamgold had a return on equity of 10.39% and a net margin of 15.39%.The company had revenue of $714.61 million during the quarter, compared to the consensus estimate of $759.45 million. On average, analysts anticipate that Iamgold Corporation will post 0.67 earnings per share for the current year.

Iamgold Profile

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.