Hartree Partners LP Has $2.81 Million Stake in Iamgold Corporation $IAG

Key Points

• Hartree Partners LP has reduced its stake in Iamgold Corporation by 16.5%, selling 88,766 shares, bringing its total holdings to 450,000 shares valued at approximately $2.81 million.
• Institutional investors collectively own 47.08% of Iamgold, with several firms, including Vanguard Group and American Century, increasing their positions during the first quarter.
• Despite a missed earnings estimate for the last quarter with an EPS of $0.13 versus a consensus of $0.14, Iamgold has received a consensus price target of $8.53 from analysts, indicating growth expectations.

Hartree Partners LP lowered its position in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 16.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 450,000 shares of the mining company's stock after selling 88,766 shares during the period. Iamgold makes up about 1.0% of Hartree Partners LP's investment portfolio, making the stock its 25th largest position. Hartree Partners LP owned approximately 0.08% of Iamgold worth $2,812,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. bought a new stake in shares of Iamgold in the first quarter worth $45,911,000. Millennium Management LLC increased its stake in shares of Iamgold by 88.4% in the fourth quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company's stock worth $53,307,000 after buying an additional 4,846,254 shares during the last quarter. Nuveen LLC bought a new stake in shares of Iamgold in the first quarter worth $20,620,000. Ninety One UK Ltd bought a new stake in shares of Iamgold in the first quarter worth $14,678,000. Finally, American Century Companies Inc. increased its stake in shares of Iamgold by 19.0% in the first quarter. American Century Companies Inc. now owns 12,092,101 shares of the mining company's stock worth $75,489,000 after buying an additional 1,929,787 shares during the last quarter. Hedge funds and other institutional investors own 47.08% of the company's stock.

Iamgold Price Performance

NYSE IAG traded up $0.08 on Wednesday, reaching $9.16. The company's stock had a trading volume of 9,257,069 shares, compared to its average volume of 14,056,274. Iamgold Corporation has a twelve month low of $4.44 and a twelve month high of $9.19. 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 stock has a market cap of $5.27 billion, a PE ratio of 6.59, a PEG ratio of 0.29 and a beta of 1.08. The firm's 50 day moving average is $7.47 and its two-hundred day moving average is $6.88.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last issued its quarterly 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). Iamgold had a net margin of 40.61% and a return on equity of 8.54%. The business had revenue of $587.21 million during the quarter, compared to analyst estimates of $663.21 million. As a group, sell-side analysts predict that Iamgold Corporation will post 0.67 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on IAG. Zacks Research lowered shares of Iamgold from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. CIBC restated an "outperform" rating on shares of Iamgold in a research report on Tuesday, July 15th. National Bankshares restated an "outperform" rating on shares of Iamgold in a research report on Tuesday, June 24th. Scotiabank upped their price target 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, Raymond James Financial upgraded shares of Iamgold to a "hold" rating and set a $8.00 price target for the company in a research report on Monday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus 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.