Precision Wealth Strategies LLC bought a new position in IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 90,418 shares of the mining company's stock, valued at approximately $565,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of IAG. Choreo LLC bought a new position in shares of IAMGOLD during the fourth quarter valued at approximately $88,000. Apollon Wealth Management LLC bought a new stake in IAMGOLD in the fourth quarter worth $104,000. Allspring Global Investments Holdings LLC grew its stake in shares of IAMGOLD by 27.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,289,000 shares of the mining company's stock worth $6,654,000 after acquiring an additional 277,000 shares during the last quarter. CIBC Asset Management Inc increased its holdings in shares of IAMGOLD by 0.4% during the fourth quarter. CIBC Asset Management Inc now owns 700,955 shares of the mining company's stock valued at $3,615,000 after acquiring an additional 2,848 shares in the last quarter. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of IAMGOLD in the 4th quarter worth about $68,000. 47.08% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of research firms have weighed in on IAG. BMO Capital Markets started coverage on shares of IAMGOLD in a research note on Wednesday, April 16th. They set an "outperform" rating for the company. National Bank Financial upgraded shares of IAMGOLD to a "strong-buy" rating in a report on Friday, March 21st. Wall Street Zen downgraded IAMGOLD from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Scotiabank lifted their price target on shares of IAMGOLD from $7.50 to $7.75 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Finally, CIBC increased their price objective on shares of IAMGOLD from $8.40 to $9.20 and gave the company an "outperformer" rating in a research report on Thursday, May 8th. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $8.29.
Check Out Our Latest Stock Report on IAMGOLD
IAMGOLD Stock Performance
IAMGOLD stock traded down $0.16 during trading on Monday, reaching $7.47. The company had a trading volume of 15,225,816 shares, compared to its average volume of 11,112,892. The firm has a market capitalization of $4.30 billion, a price-to-earnings ratio of 5.15 and a beta of 1.15. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The firm's 50-day simple moving average is $7.03 and its 200 day simple moving average is $6.21. IAMGOLD Co. has a 52 week low of $3.44 and a 52 week high of $8.38.
IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last released its earnings results on Tuesday, May 6th. The mining company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. The company had revenue of $457.23 million during the quarter, compared to analyst estimates of $578.70 million. Sell-side analysts forecast that IAMGOLD Co. will post 0.67 earnings per share for the current fiscal year.
About IAMGOLD
(
Free Report)
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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