Gamco Investors INC. ET AL Acquires Shares of 81,050 Iamgold Corporation $IAG

Key Points

• Gamco Investors INC. ET AL acquired a new stake in Iamgold Corporation worth approximately $507,000, purchasing 81,050 shares in the first quarter.
• The recent quarterly earnings report showed Iamgold missed analysts' expectations, reporting $0.13 EPS against a consensus estimate of $0.14.
• Iamgold has a market cap of $5.37 billion and a consensus rating of "Moderate Buy" from analysts with a target price of $8.53.

Gamco Investors INC. ET AL acquired a new stake in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 81,050 shares of the mining company's stock, valued at approximately $507,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in IAG. Hsbc Holdings PLC boosted its stake in Iamgold by 17.8% during the 1st quarter. Hsbc Holdings PLC now owns 19,973 shares of the mining company's stock valued at $125,000 after purchasing an additional 3,020 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Iamgold by 0.8% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 600,647 shares of the mining company's stock valued at $3,099,000 after purchasing an additional 5,053 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Iamgold in the first quarter valued at approximately $35,000. Harvest Portfolios Group Inc. boosted its position in shares of Iamgold by 6.7% during the first quarter. Harvest Portfolios Group Inc. now owns 91,349 shares of the mining company's stock valued at $570,000 after buying an additional 5,755 shares during the last quarter. Finally, Tudor Investment Corp ET AL grew its holdings 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 buying an additional 7,359 shares in the last quarter. 47.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IAG has been the topic of several recent analyst reports. Zacks Research cut Iamgold from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. National Bankshares reiterated an "outperform" rating on shares of Iamgold in a report on Tuesday, June 24th. Raymond James Financial upgraded shares of Iamgold to a "hold" rating and set a $8.00 price target on the stock in a report on Monday, June 30th. Scotiabank upped their price objective on shares of Iamgold from $7.50 to $7.75 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. Finally, CIBC reissued an "outperform" rating on shares of Iamgold in a research report on Tuesday, July 15th. Two 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 company currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.53.

Iamgold Stock Performance

NYSE IAG traded down $0.03 during trading hours on Thursday, reaching $9.49. 5,564,965 shares of the company were exchanged, compared to its average volume of 13,922,364. The stock has a market capitalization of $5.46 billion, a P/E ratio of 6.82, a P/E/G ratio of 0.30 and a beta of 1.21. The company has a quick ratio of 0.76, a current ratio of 1.47 and a debt-to-equity ratio of 0.31. Iamgold Corporation has a 1 year low of $4.44 and a 1 year high of $9.70. The business's 50 day simple moving average is $7.70 and its 200-day simple moving average is $6.99.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last released its earnings results on Thursday, August 7th. The mining company reported $0.13 earnings per share for the quarter, missing analysts' consensus estimates of $0.14 by ($0.01). The company had revenue of $587.21 million during the quarter, compared to analysts' expectations 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 expect that Iamgold Corporation will post 0.67 earnings per share for the current year.

Iamgold 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.