Hillsdale Investment Management Inc. Increases Stake in Iamgold Corporation $IAG

Hillsdale Investment Management Inc. boosted its holdings in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 24.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 1,068,910 shares of the mining company’s stock after buying an additional 206,755 shares during the period. Hillsdale Investment Management Inc. owned approximately 0.18% of Iamgold worth $17,671,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Tsfg LLC purchased a new position in Iamgold in the third quarter valued at approximately $26,000. Banque Transatlantique SA purchased a new position in Iamgold in the second quarter valued at approximately $26,000. Global Retirement Partners LLC purchased a new position in Iamgold in the fourth quarter valued at approximately $33,000. FNY Investment Advisers LLC purchased a new position in Iamgold in the fourth quarter valued at approximately $38,000. Finally, LOM Asset Management Ltd purchased a new position in Iamgold in the fourth quarter valued at approximately $49,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Iamgold Stock Up 3.2%

IAG stock opened at $17.91 on Friday. Iamgold Corporation has a twelve month low of $6.68 and a twelve month high of $24.87. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. The company has a market capitalization of $10.35 billion, a P/E ratio of 10.41, a PEG ratio of 0.85 and a beta of 1.26. The firm has a 50 day simple moving average of $17.92 and a 200-day simple moving average of $18.08.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $955.17 million. On average, equities research analysts predict that Iamgold Corporation will post 2.24 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on IAG. Scotiabank raised their price target on shares of Iamgold to $25.00 and gave the company a “sector perform” rating in a report on Wednesday, February 25th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Iamgold in a report on Wednesday, February 4th. Wall Street Zen upgraded shares of Iamgold from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Zacks Research lowered shares of Iamgold from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, TD Securities restated a “buy” rating on shares of Iamgold in a report on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.75.

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.