Precision Wealth Strategies LLC Buys Shares of 90,418 Iamgold Corporation (NYSE:IAG)

Precision Wealth Strategies LLC bought a new position in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 90,418 shares of the mining company's stock, valued at approximately $565,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Choreo LLC bought a new position in Iamgold in the 4th quarter worth $88,000. Apollon Wealth Management LLC purchased a new stake in shares of Iamgold in the fourth quarter worth $104,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Iamgold by 27.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,289,000 shares of the mining company's stock valued at $6,654,000 after buying an additional 277,000 shares in the last quarter. CIBC Asset Management Inc lifted its stake in shares of Iamgold by 0.4% during the 4th quarter. CIBC Asset Management Inc now owns 700,955 shares of the mining company's stock valued at $3,615,000 after buying an additional 2,848 shares in the last quarter. Finally, Atria Wealth Solutions Inc. bought a new position in Iamgold in the 4th quarter worth $68,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. BMO Capital Markets started coverage on Iamgold in a research report on Wednesday, April 16th. They issued an "outperform" rating on the stock. National Bank Financial upgraded shares of Iamgold to a "strong-buy" rating in a research report on Friday, March 21st. Wall Street Zen downgraded shares of Iamgold from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. CIBC lifted their target price on Iamgold from $8.40 to $9.20 and gave the stock an "outperformer" rating in a report on Thursday, May 8th. Finally, Scotiabank increased their price target on Iamgold from $7.50 to $7.75 and gave the company a "sector perform" rating in a research note on Monday, May 12th. Four investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $8.29.

Iamgold Trading Down 3.6%

Shares of IAG traded down $0.28 during mid-day trading on Thursday, reaching $7.27. 21,528,131 shares of the company's stock traded hands, compared to its average volume of 11,197,041. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.41 and a quick ratio of 0.83. The stock's 50-day moving average is $7.10 and its two-hundred day moving average is $6.24. Iamgold Corporation has a 12 month low of $3.44 and a 12 month high of $8.38. The stock has a market cap of $4.18 billion, a P/E ratio of 5.15, a P/E/G ratio of 0.35 and a beta of 1.15.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last issued its earnings results on Tuesday, May 6th. The mining company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.10. The firm had revenue of $457.23 million during the quarter, compared to analyst estimates of $578.70 million. Iamgold had a net margin of 45.42% and a return on equity of 9.26%. Research analysts forecast that Iamgold Corporation will post 0.67 earnings per share for the current fiscal year.

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.