Iamgold Corporation $IAG Shares Bought by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP significantly increased its stake in Iamgold Corporation by 231,846.0% during the first quarter, owning 146,126 shares valued at $913,000.
• Wall Street analysts have issued mixed ratings on Iamgold, with a consensus rating of "Moderate Buy" and a target price of $8.53.
• Iamgold reported $0.13 EPS for the last quarter, missing expectations, and is projected to post 0.67 EPS for the current fiscal year.

Quantbot Technologies LP grew its holdings in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 231,846.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 146,126 shares of the mining company's stock after purchasing an additional 146,063 shares during the period. Quantbot Technologies LP's holdings in Iamgold were worth $913,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Summit Securities Group LLC acquired a new stake in Iamgold in the 1st quarter worth approximately $35,000. Alpha Omega Wealth Management LLC acquired a new stake in shares of Iamgold during the first quarter worth about $75,000. Avantax Advisory Services Inc. bought a new position in Iamgold in the first quarter valued at approximately $86,000. Ritholtz Wealth Management bought a new position in shares of Iamgold during the 1st quarter worth approximately $94,000. Finally, Tudor Investment Corp ET AL lifted its holdings in Iamgold by 63.3% during the 4th quarter. Tudor Investment Corp ET AL now owns 18,986 shares of the mining company's stock worth $98,000 after purchasing an additional 7,359 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Iamgold Trading Up 4.2%

Shares of NYSE:IAG traded up $0.38 during trading on Friday, reaching $9.33. The company's stock had a trading volume of 8,511,967 shares, compared to its average volume of 12,339,881. The stock has a market capitalization of $5.37 billion, a PE ratio of 6.71, a price-to-earnings-growth ratio of 0.29 and a beta of 1.08. The firm's 50 day simple moving average is $7.58 and its two-hundred day simple moving average is $6.93. Iamgold Corporation has a 12 month low of $4.44 and a 12 month high of $9.35. The company has a current ratio of 1.47, a quick ratio of 0.76 and a debt-to-equity ratio of 0.31.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on IAG shares. National Bankshares restated an "outperform" rating on shares of Iamgold in a research report on Tuesday, June 24th. Scotiabank increased their price objective on Iamgold from $7.50 to $7.75 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Zacks Research downgraded Iamgold from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. CIBC reissued an "outperform" rating on shares of Iamgold in a research note on Tuesday, July 15th. Finally, Raymond James Financial raised Iamgold to a "hold" rating and set a $8.00 price objective for the company in a research note on Monday, June 30th. Two investment analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Iamgold has a consensus rating of "Moderate Buy" and an average price target of $8.53.

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.