BTG Pactual Asset Management US LLC Buys New Shares in Iamgold Corporation $IAG

Key Points

• BTG Pactual Asset Management initiated a position in IAMGOLD by purchasing 84,695 shares worth approximately $1.34 million during the second quarter. Institutional investors and hedge funds collectively own 47.08% of the company.
• IAMGOLD reported quarterly earnings of $0.42 per share, matching analyst estimates, while revenue of $845.97 million fell short of the $882.92 million consensus forecast. Analysts expect full-year EPS of $1.92.
• The stock opened at $20.60, near analysts’ average consensus target of $20.00. Ratings remain favorable overall, with two Strong Buy and five Buy recommendations, producing a “Moderate Buy” consensus.

BTG Pactual Asset Management US LLC purchased a new position in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 84,695 shares of the mining company's stock, valued at approximately $1,342,000.

Other institutional investors have also added to or reduced their stakes in the company. Walleye Capital LLC purchased a new position in Iamgold in the second quarter valued at about $12,969,000. PKO Investment Management Joint Stock Co increased its stake in shares of Iamgold by 42.1% during the 4th quarter. PKO Investment Management Joint Stock Co now owns 270,000 shares of the mining company's stock worth $4,464,000 after purchasing an additional 80,000 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Iamgold by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 23,836,156 shares of the mining company's stock worth $393,328,000 after purchasing an additional 1,068,465 shares during the period. Bank of America Corp DE raised its holdings in shares of Iamgold by 4.7% in the 1st quarter. Bank of America Corp DE now owns 9,589,342 shares of the mining company's stock worth $180,471,000 after purchasing an additional 434,188 shares during the period. Finally, L1 Capital Pty Ltd lifted its stake in Iamgold by 961.5% in the fourth quarter. L1 Capital Pty Ltd now owns 1,252,077 shares of the mining company's stock valued at $20,647,000 after purchasing an additional 1,134,119 shares during the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

Iamgold Stock Performance

Iamgold stock opened at $20.60 on Monday. The firm's 50 day simple moving average is $16.68 and its 200 day simple moving average is $18.08. The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 0.10. The firm has a market capitalization of $11.83 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 1.09 and a beta of 1.32. Iamgold Corporation has a 1-year low of $8.97 and a 1-year high of $24.87.

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

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Bank of America decreased their target price on Iamgold from $22.50 to $21.00 and set a "buy" rating for the company in a research report on Thursday, July 9th. Wall Street Zen raised Iamgold from a "hold" rating to a "buy" rating in a report on Saturday, August 22nd. Weiss Ratings downgraded shares of Iamgold from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 9th. Jefferies Financial Group assumed coverage on shares of Iamgold in a research report on Thursday, August 20th. They issued a "buy" rating and a $24.00 price target on the stock. Finally, Royal Bank Of Canada cut their price objective on shares of Iamgold from $22.00 to $20.00 and set an "outperform" rating for the company in a report on Thursday, July 9th. Two equities 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. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $20.00.

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.

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