Edmond DE Rothschild Holding S.A. Purchases 79,617 Shares of Iamgold Corporation $IAG

Key Points

• Edmond DE Rothschild Holding S.A. increased its stake in Iamgold Corporation by 79.8%, owning a total of 179,403 shares valued at approximately $1.12 million.
• Several institutional investors, including Vanguard Group and American Century Companies, have also significantly increased their positions in Iamgold during the first quarter.
• Iamgold reported an earnings miss for the last quarter, with earnings per share at $0.13 compared to the consensus estimate of $0.14.

Edmond DE Rothschild Holding S.A. grew its position in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 79.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 179,403 shares of the mining company's stock after acquiring an additional 79,617 shares during the period. Edmond DE Rothschild Holding S.A.'s holdings in Iamgold were worth $1,121,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in Iamgold in the 4th quarter worth $107,000. Tudor Investment Corp ET AL lifted its stake in Iamgold by 63.3% during the fourth quarter. Tudor Investment Corp ET AL now owns 18,986 shares of the mining company's stock worth $98,000 after purchasing an additional 7,359 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Iamgold by 4.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 490,296 shares of the mining company's stock worth $2,538,000 after acquiring an additional 18,679 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Iamgold by 13.2% in the fourth quarter. Bank of America Corp DE now owns 5,817,490 shares of the mining company's stock valued at $30,018,000 after purchasing an additional 680,192 shares during the period. Finally, Balyasny Asset Management L.P. acquired a new position in shares of Iamgold in the fourth quarter valued at approximately $365,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IAG has been the topic of a number of analyst reports. Raymond James Financial raised Iamgold to a "hold" rating and set a $8.00 price target on the stock in a research report on Monday, June 30th. Royal Bank Of Canada upgraded Iamgold from a "sector perform" rating to an "outperform" rating and lifted their target price for the stock from $9.00 to $14.00 in a research report on Wednesday. CIBC reaffirmed an "outperform" rating on shares of Iamgold in a report on Tuesday, July 15th. National Bankshares reissued an "outperform" rating on shares of Iamgold in a research note on Tuesday, June 24th. Finally, Zacks Research cut shares of Iamgold from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Two analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Iamgold presently has an average rating of "Moderate Buy" and an average target price of $10.13.

Iamgold Price Performance

Shares of Iamgold stock traded up $0.10 during trading hours on Thursday, hitting $11.01. The company's stock had a trading volume of 6,040,811 shares, compared to its average volume of 13,896,147. The company has a market cap of $6.33 billion, a PE ratio of 7.90, a PEG ratio of 0.33 and a beta of 1.21. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.76 and a current ratio of 1.47. The business has a 50 day moving average price of $7.98 and a two-hundred day moving average price of $7.13. Iamgold Corporation has a 12-month low of $4.44 and a 12-month high of $11.31.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last issued its earnings results on Thursday, August 7th. The mining company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). Iamgold had a net margin of 40.61% and a return on equity of 8.54%. The business had revenue of $587.21 million for the quarter, compared to the consensus estimate of $663.21 million. Analysts expect that Iamgold Corporation will post 0.67 earnings per share for the current fiscal year.

About Iamgold

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.