Iamgold Corporation $IAG Holdings Lifted by Mudita Advisors LLP

Key Points

• Mudita Advisors LLP has increased its position in Iamgold Corporation by 41.1% during the first quarter, now holding over 2 million shares valued at approximately $13 million.
• IAG's latest quarterly earnings report showed $0.13 earnings per share, slightly missing estimates, with revenues totaling $587.21 million compared to a forecast of $663.21 million.
• Market analysts have differing views, with two rating the stock as Strong Buy and four giving it a Buy rating; the average target price is set at $8.53.

Mudita Advisors LLP increased its position in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 41.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,081,400 shares of the mining company's stock after buying an additional 606,795 shares during the quarter. Iamgold comprises about 6.6% of Mudita Advisors LLP's investment portfolio, making the stock its 6th biggest position. Mudita Advisors LLP owned 0.36% of Iamgold worth $13,002,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. purchased a new position in Iamgold in the first quarter valued at about $647,000. Ritholtz Wealth Management acquired a new stake in shares of Iamgold during the first quarter valued at about $94,000. Cerity Partners LLC grew its stake in shares of Iamgold by 28.0% during the first quarter. Cerity Partners LLC now owns 75,250 shares of the mining company's stock valued at $470,000 after acquiring an additional 16,475 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Iamgold during the fourth quarter valued at about $107,000. Finally, Nuveen Asset Management LLC grew its stake in shares of Iamgold by 3.3% during the fourth quarter. Nuveen Asset Management LLC now owns 2,742,119 shares of the mining company's stock valued at $14,166,000 after acquiring an additional 87,743 shares in the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

Iamgold Stock Performance

NYSE:IAG opened at $10.02 on Wednesday. Iamgold Corporation has a 12-month low of $4.44 and a 12-month high of $10.27. The company has a quick ratio of 0.76, a current ratio of 1.47 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $5.76 billion, a PE ratio of 7.21, a price-to-earnings-growth ratio of 0.33 and a beta of 1.21. The firm has a 50-day moving average price of $7.91 and a 200 day moving average price of $7.10.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last issued its quarterly earnings data on Thursday, August 7th. The mining company reported $0.13 earnings per share 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 return on equity of 8.54% and a net margin of 40.61%. Research analysts anticipate that Iamgold Corporation will post 0.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IAG has been the subject of a number of research reports. Raymond James Financial upgraded Iamgold to a "hold" rating and set a $8.00 price target for the company in a research note on Monday, June 30th. Zacks Research downgraded Iamgold from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. CIBC reaffirmed an "outperform" rating on shares of Iamgold in a report on Tuesday, July 15th. Finally, National Bankshares reissued an "outperform" rating on shares of Iamgold in a 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 company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $8.53.

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.

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