Walleye Capital LLC Acquires New Holdings in Iamgold Corporation $IAG

Key Points

• Walleye Capital LLC acquired 307,567 shares of Iamgold Corporation during the 1st quarter, valuing the investment at approximately $1.9 million, representing about 0.05% ownership of the company.
• Several institutional investors, including Hsbc Holdings PLC and UBS AM, have increased their stakes in Iamgold, indicating growing interest in the company.
• Analysts have set an average price target of $8.53 for Iamgold's stock, with ratings varying between "Strong Buy" and "Hold" from multiple firms.

Walleye Capital LLC purchased a new position in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 307,567 shares of the mining company's stock, valued at approximately $1,922,000. Walleye Capital LLC owned about 0.05% of Iamgold as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of IAG. Geode Capital Management LLC lifted its position in shares of Iamgold by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 274,756 shares of the mining company's stock worth $1,435,000 after buying an additional 10,468 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Iamgold in the 4th quarter worth about $107,000. Mariner LLC lifted its position in shares of Iamgold by 651.0% in the 4th quarter. Mariner LLC now owns 81,691 shares of the mining company's stock worth $422,000 after buying an additional 70,813 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Iamgold by 21.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,267,628 shares of the mining company's stock worth $47,818,000 after acquiring an additional 1,637,158 shares during the period. Finally, Tudor Investment Corp ET AL increased its holdings in shares of Iamgold by 63.3% in the 4th quarter. Tudor Investment Corp ET AL now owns 18,986 shares of the mining company's stock worth $98,000 after acquiring an additional 7,359 shares during the period. 47.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Zacks Research cut shares of Iamgold from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Scotiabank boosted their price target on shares of Iamgold from $7.50 to $7.75 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. CIBC restated an "outperform" rating on shares of Iamgold in a research report on Tuesday, July 15th. Raymond James Financial upgraded shares of Iamgold to a "hold" rating and set a $8.00 price target on the stock in a research report on Monday, June 30th. Finally, National Bankshares restated an "outperform" rating on shares of Iamgold in a research report on Tuesday, June 24th. Two investment analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, Iamgold currently has a consensus rating of "Moderate Buy" and an average target price of $8.53.

Iamgold Stock Up 0.7%

Iamgold stock traded up $0.07 during trading hours on Tuesday, hitting $9.38. The company had a trading volume of 10,777,415 shares, compared to its average volume of 13,973,995. The firm has a market capitalization of $5.39 billion, a P/E ratio of 6.71, a price-to-earnings-growth ratio of 0.30 and a beta of 1.20. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.47 and a quick ratio of 0.76. The firm's fifty day moving average is $7.62 and its 200-day moving average is $6.96. Iamgold Corporation has a fifty-two week low of $4.44 and a fifty-two week high of $9.59.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last posted its earnings results on Thursday, August 7th. The mining company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01). The business had revenue of $587.21 million during the quarter, compared to the consensus estimate of $663.21 million. Iamgold had a return on equity of 8.54% and a net margin of 40.61%. On average, research analysts forecast 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.