Fox Run Management L.L.C. Buys New Shares in Iamgold Corporation $IAG

Key Points

• Fox Run Management purchased a new stake in Iamgold Corporation, acquiring 43,816 shares valued at approximately $274,000 during the first quarter.
• Iamgold reported a quarterly EPS of $0.13, missing the consensus estimate of $0.14, alongside revenue results of $587.21 million compared to expectations of $663.21 million.
• Research analysts currently rate Iamgold with a consensus of "Moderate Buy" and an average target price of $8.53, reflecting varying levels of confidence among investors.

Fox Run Management L.L.C. bought a new stake in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 43,816 shares of the mining company's stock, valued at approximately $274,000.

Other large investors also recently made changes to their positions in the company. LPL Financial LLC lifted its holdings in Iamgold by 79.2% during the 4th quarter. LPL Financial LLC now owns 54,277 shares of the mining company's stock worth $280,000 after buying an additional 23,990 shares in the last quarter. Geode Capital Management LLC lifted its stake in Iamgold by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 274,756 shares of the mining company's stock valued at $1,435,000 after acquiring an additional 10,468 shares in the last quarter. Cerity Partners LLC bought a new stake in Iamgold during the fourth quarter worth about $303,000. Raymond James Financial Inc. bought a new stake in shares of Iamgold during the 4th quarter worth approximately $107,000. Finally, Mariner LLC raised its position in Iamgold by 651.0% during the fourth quarter. Mariner LLC now owns 81,691 shares of the mining company's stock worth $422,000 after acquiring an additional 70,813 shares in the last quarter. Institutional investors own 47.08% of the company's stock.

Iamgold Trading Up 3.6%

Shares of Iamgold stock traded up $0.3050 on Friday, hitting $8.7650. The stock had a trading volume of 11,630,230 shares, compared to its average volume of 13,068,465. The stock has a 50 day moving average of $7.41 and a 200 day moving average of $6.84. The firm has a market capitalization of $5.04 billion, a P/E ratio of 6.31, a PEG ratio of 0.28 and a beta of 1.08. Iamgold Corporation has a twelve month low of $4.44 and a twelve month high of $8.87. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.76 and a current ratio of 1.47.

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

Analyst Upgrades and Downgrades

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

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.