Credit Agricole S A Purchases 60,877 Shares of Iamgold Corporation $IAG

Key Points

• Credit Agricole S A increased its holdings in Iamgold Corporation by 18.6%, acquiring an additional 60,877 shares during the first quarter, bringing its total ownership to 387,874 shares valued at approximately $2.42 million.
• Iamgold's stock experienced a 3.6% increase, opening at $8.7650 and fluctuating between a 52-week range of $4.44 to $8.87.
• The mining company reported a loss in its recent quarterly earnings, posting $0.13 EPS against a consensus estimate of $0.14 EPS while generating revenues of $587.21 million, less than the anticipated $663.21 million.

Credit Agricole S A increased its holdings in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 18.6% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 387,874 shares of the mining company's stock after buying an additional 60,877 shares during the quarter. Credit Agricole S A owned 0.07% of Iamgold worth $2,424,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Summit Securities Group LLC bought a new position in Iamgold in the first quarter valued at about $35,000. Alpha Omega Wealth Management LLC bought a new position in Iamgold in the first quarter valued at about $75,000. Avantax Advisory Services Inc. bought a new position in Iamgold in the first quarter valued at about $86,000. Ritholtz Wealth Management bought a new position in Iamgold in the first quarter valued at about $94,000. Finally, Tudor Investment Corp ET AL raised its position in Iamgold by 63.3% in the fourth quarter. Tudor Investment Corp ET AL now owns 18,986 shares of the mining company's stock valued at $98,000 after purchasing an additional 7,359 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Iamgold Trading Up 2.9%

IAG stock traded up $0.25 during mid-day trading on Tuesday, reaching $9.08. The company's stock had a trading volume of 7,617,882 shares, compared to its average volume of 12,688,446. The company has a market cap of $5.22 billion, a price-to-earnings ratio of 6.53, a price-to-earnings-growth ratio of 0.29 and a beta of 1.08. The business's 50 day moving average price is $7.47 and its 200 day moving average price is $6.88. The company has a current ratio of 1.47, a quick ratio of 0.76 and a debt-to-equity ratio of 0.31. Iamgold Corporation has a 12 month low of $4.44 and a 12 month high of $9.12.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last released its quarterly earnings data 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 firm had revenue of $587.21 million for the quarter, compared to the consensus estimate of $663.21 million. Iamgold had a net margin of 40.61% and a return on equity of 8.54%. On average, equities research analysts predict 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.