190,258 Shares in Iamgold Corporation $IAG Bought by Polar Asset Management Partners Inc.

Key Points

• Polar Asset Management Partners acquired 190,258 IAMGOLD shares during the second quarter, valued at approximately $3.0 million. Institutional investors collectively own 47.08% of the company.
• Analyst sentiment remains positive, with IAMGOLD holding a “Moderate Buy” consensus rating and an average price target of $20.00, despite mixed target-price revisions.
• IAMGOLD reported quarterly EPS of $0.42, matching estimates, while revenue of $845.97 million fell short of the $882.92 million consensus forecast.

Polar Asset Management Partners Inc. acquired a new position in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 190,258 shares of the mining company's stock, valued at approximately $3,008,000.

Other institutional investors have also recently bought and sold shares of the company. Banque Transatlantique SA purchased a new stake in shares of Iamgold during the 2nd quarter valued at $26,000. Pin Oak Investment Advisors Inc. bought a new position in Iamgold during the fourth quarter valued at about $30,000. Global Retirement Partners LLC bought a new position in Iamgold during the fourth quarter valued at about $33,000. Western Wealth Management LLC bought a new position in Iamgold during the first quarter valued at about $43,000. Finally, Banque Cantonale Vaudoise increased its holdings in Iamgold by 617.8% during the fourth quarter. Banque Cantonale Vaudoise now owns 2,986 shares of the mining company's stock worth $49,000 after buying an additional 2,570 shares during the last quarter. Institutional investors own 47.08% of the company's stock.

Analyst Ratings Changes

IAG has been the topic of a number of research analyst reports. Weiss Ratings cut shares of Iamgold from a "buy (b)" rating to a "buy (b-)" rating in a research note on Tuesday, June 9th. Royal Bank Of Canada decreased their price target on shares of Iamgold from $22.00 to $20.00 and set an "outperform" rating for the company in a research note on Thursday, July 9th. Scotiabank lifted their price target on shares of Iamgold from $22.00 to $23.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 12th. Bank of America dropped their price objective on Iamgold from $22.50 to $21.00 and set a "buy" rating on the stock in a research note on Thursday, July 9th. Finally, Wall Street Zen raised Iamgold from a "hold" rating to a "buy" rating in a report on Saturday. Two analysts have 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 an average price target of $20.00.

Iamgold Price Performance

Shares of NYSE:IAG opened at $22.16 on Wednesday. The firm has a market capitalization of $12.72 billion, a PE ratio of 11.19, a P/E/G ratio of 1.16 and a beta of 1.32. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 0.10. The company has a 50-day moving average price of $16.43 and a two-hundred day moving average price of $18.05. Iamgold Corporation has a twelve month low of $8.86 and a twelve month high of $24.87.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last posted its quarterly earnings results on Thursday, August 6th. The mining company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $845.97 million for the quarter, compared to analyst estimates of $882.92 million. Iamgold had a net margin of 31.40% and a return on equity of 28.97%. Equities analysts forecast that Iamgold Corporation will post 1.92 EPS for the current year.

Iamgold Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source