Iamgold Corporation $IAG is Anson Funds Management LP's 7th Largest Position

Key Points

• Anson Funds Management LP significantly increased its stake in Iamgold Corporation by 2,100.0% in the first quarter, owning 3.3 million shares, which represents about 3.1% of its portfolio.
• Several large investors, including Vanguard and American Century, also enhanced their holdings in Iamgold, indicating strong institutional interest in the mining company.
• Analysts have mixed opinions on Iamgold, with price targets ranging from $7.50 to $8.53, and the stock currently holds an average rating of "Moderate Buy."

Anson Funds Management LP lifted its position in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 2,100.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,300,000 shares of the mining company's stock after acquiring an additional 3,150,000 shares during the quarter. Iamgold accounts for approximately 3.1% of Anson Funds Management LP's investment portfolio, making the stock its 7th largest holding. Anson Funds Management LP owned approximately 0.57% of Iamgold worth $20,598,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in IAG. Vanguard Group Inc. increased its position in Iamgold by 1.7% during the 1st quarter. Vanguard Group Inc. now owns 21,594,479 shares of the mining company's stock valued at $134,764,000 after buying an additional 361,608 shares in the last quarter. American Century Companies Inc. grew its position in Iamgold by 19.0% during the 1st quarter. American Century Companies Inc. now owns 12,092,101 shares of the mining company's stock worth $75,489,000 after purchasing an additional 1,929,787 shares during the period. Millennium Management LLC grew its position in Iamgold by 88.4% during the 4th quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company's stock worth $53,307,000 after purchasing an additional 4,846,254 shares during the period. Dimensional Fund Advisors LP grew its position in Iamgold by 21.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,267,628 shares of the mining company's stock worth $47,818,000 after purchasing an additional 1,637,158 shares during the period. Finally, Invesco Ltd. raised its position in shares of Iamgold by 19.6% in the first quarter. Invesco Ltd. now owns 8,536,289 shares of the mining company's stock worth $53,352,000 after acquiring an additional 1,396,354 shares during the period. 47.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on IAG. Raymond James Financial upgraded shares of Iamgold to a "hold" rating and set a $8.00 target price for the company in a research report on Monday, June 30th. Scotiabank increased their target price on Iamgold from $7.50 to $7.75 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. CIBC reissued an "outperform" rating on shares of Iamgold in a research note 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 Iamgold from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Two equities research analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Iamgold currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.53.

Iamgold Price Performance

Shares of IAG traded up $0.30 during trading hours on Friday, reaching $9.25. 5,115,517 shares of the company traded hands, compared to its average volume of 13,971,534. 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 stock has a market capitalization of $5.32 billion, a PE ratio of 6.65, a price-to-earnings-growth ratio of 0.30 and a beta of 1.08. Iamgold Corporation has a fifty-two week low of $4.44 and a fifty-two week high of $9.31. The stock has a fifty day simple moving average of $7.54 and a 200 day simple moving average of $6.91.

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 for the quarter, missing analysts' consensus estimates of $0.14 by ($0.01). The firm had revenue of $587.21 million during the quarter, compared to analyst estimates of $663.21 million. Iamgold had a net margin of 40.61% and a return on equity of 8.54%. As a group, research analysts predict that Iamgold Corporation will post 0.67 EPS for the current fiscal year.

Iamgold Company 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.