Iamgold Corporation $IAG Stock Position Lifted by U S Global Investors Inc.

Key Points

• U S Global Investors Inc. raised its stake in Iamgold Corporation by 150%, acquiring an additional 300,000 shares, bringing total ownership to 500,000 shares valued at approximately $3.68 million.
• Wall Street analysts maintain an optimistic outlook on Iamgold, with ratings varying from "Strong Buy" to "Hold", and a consensus target price of $12.85.
• In its latest earnings report, Iamgold missed analysts' expectations, reporting $0.13 EPS versus the anticipated $0.14, along with a revenue of $587.21 million, below the consensus estimate of $663.21 million.

U S Global Investors Inc. boosted its stake in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 150.0% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 500,000 shares of the mining company's stock after purchasing an additional 300,000 shares during the period. U S Global Investors Inc. owned about 0.09% of Iamgold worth $3,675,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IAG. Parallel Advisors LLC lifted its stake in Iamgold by 272.9% in the second quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company's stock valued at $26,000 after acquiring an additional 2,623 shares during the last quarter. Summit Securities Group LLC acquired a new stake in Iamgold in the first quarter valued at approximately $35,000. Avantax Advisory Services Inc. acquired a new stake in Iamgold in the first quarter valued at approximately $86,000. Vident Advisory LLC acquired a new stake in Iamgold in the first quarter valued at approximately $92,000. Finally, Ritholtz Wealth Management acquired a new stake in Iamgold in the first quarter valued at approximately $94,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IAG. Weiss Ratings reiterated a "buy (b)" rating on shares of Iamgold in a research note on Wednesday. CIBC lifted their target price on shares of Iamgold from $10.40 to $19.00 and gave the company an "outperformer" rating in a research note on Friday. Royal Bank Of Canada upgraded shares of Iamgold from a "sector perform" rating to an "outperform" rating and lifted their target price for the company from $9.00 to $14.00 in a research note on Wednesday, September 10th. National Bankshares reiterated an "outperform" rating on shares of Iamgold in a research note on Tuesday, June 24th. Finally, Zacks Research cut shares of 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, seven have given a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $12.85.

Iamgold Trading Up 0.8%

NYSE:IAG opened at $12.69 on Friday. Iamgold Corporation has a 12 month low of $4.64 and a 12 month high of $13.99. The firm has a market cap of $7.30 billion, a price-to-earnings ratio of 9.13, a P/E/G ratio of 0.43 and a beta of 1.24. 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 company's 50 day moving average is $10.24 and its 200-day moving average is $8.11.

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

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