497,800 Shares in Iamgold Corporation (NYSE:IAG) Bought by Louisbourg Investments Inc.

Louisbourg Investments Inc. bought a new stake in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 497,800 shares of the mining company's stock, valued at approximately $3,110,000. Louisbourg Investments Inc. owned approximately 0.09% of Iamgold at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Atria Wealth Solutions Inc. purchased a new stake in Iamgold in the fourth quarter valued at $68,000. Alpha Omega Wealth Management LLC acquired a new stake in shares of Iamgold during the first quarter worth about $75,000. Choreo LLC purchased a new stake in shares of Iamgold in the 4th quarter valued at about $88,000. Ritholtz Wealth Management acquired a new stake in shares of Iamgold in the 1st quarter valued at about $94,000. Finally, Tudor Investment Corp ET AL grew its stake in Iamgold by 63.3% during the 4th quarter. Tudor Investment Corp ET AL now owns 18,986 shares of the mining company's stock worth $98,000 after buying an additional 7,359 shares during the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on IAG shares. Scotiabank boosted their price objective on Iamgold from $7.50 to $7.75 and gave the company a "sector perform" rating in a research note on Monday, May 12th. Wall Street Zen downgraded shares of Iamgold from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. National Bank Financial upgraded shares of Iamgold to a "strong-buy" rating in a research note on Friday, March 21st. CIBC lifted their price objective on shares of Iamgold from $8.40 to $9.20 and gave the company an "outperformer" rating in a research note on Thursday, May 8th. Finally, BMO Capital Markets started coverage on shares of Iamgold in a report on Wednesday, April 16th. They issued an "outperform" rating for the company. Four analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Iamgold has an average rating of "Moderate Buy" and a consensus target price of $8.29.

Iamgold Stock Performance

NYSE:IAG traded down $0.04 during midday trading on Friday, reaching $7.24. The stock had a trading volume of 18,252,567 shares, compared to its average volume of 14,488,424. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.29. The stock has a market cap of $4.16 billion, a P/E ratio of 5.13, a P/E/G ratio of 0.34 and a beta of 1.15. The firm has a fifty day simple moving average of $7.11 and a two-hundred day simple moving average of $6.26. Iamgold Corporation has a 12-month low of $3.44 and a 12-month high of $8.38.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last issued its earnings results on Tuesday, May 6th. The mining company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $457.23 million for the quarter, compared to the consensus estimate of $578.70 million. Iamgold had a net margin of 45.42% and a return on equity of 9.26%. On average, equities analysts expect that Iamgold Corporation will post 0.67 EPS for the current year.

Iamgold Company 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.