Y Intercept Hong Kong Ltd Raises Position in Iamgold Corporation (NYSE:IAG)

Y Intercept Hong Kong Ltd raised its position in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 533.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 213,134 shares of the mining company's stock after purchasing an additional 179,504 shares during the period. Y Intercept Hong Kong Ltd's holdings in Iamgold were worth $1,332,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in IAG. RCF Management L.L.C. bought a new position in Iamgold during the fourth quarter worth about $128,174,000. Millennium Management LLC boosted its holdings in Iamgold by 88.4% in the 4th quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company's stock worth $53,307,000 after buying an additional 4,846,254 shares during the period. Ninety One UK Ltd purchased a new position in Iamgold in the 1st quarter valued at approximately $14,678,000. Invesco Ltd. raised its holdings in Iamgold by 41.6% during the 4th quarter. Invesco Ltd. now owns 7,139,935 shares of the mining company's stock valued at $36,842,000 after acquiring an additional 2,098,215 shares during the period. Finally, American Century Companies Inc. grew its position in shares of Iamgold by 25.9% in the fourth quarter. American Century Companies Inc. now owns 10,162,314 shares of the mining company's stock valued at $52,499,000 after purchasing an additional 2,092,803 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IAG. BMO Capital Markets initiated coverage on Iamgold in a report on Wednesday, April 16th. They set an "outperform" rating on the stock. Scotiabank boosted their price objective on shares of Iamgold from $7.50 to $7.75 and gave the company a "sector perform" rating in a research note on Monday, May 12th. CIBC reiterated an "outperform" rating on shares of Iamgold in a research note on Tuesday, July 15th. Raymond James Financial upgraded shares of Iamgold to a "hold" rating and set a $8.00 price target for the company in a research report on Monday, June 30th. Finally, National Bankshares reissued an "outperform" rating on shares of Iamgold in a research note on Tuesday, June 24th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Iamgold currently has an average rating of "Moderate Buy" and an average target price of $8.53.

Iamgold Price Performance

NYSE:IAG traded down $0.03 during midday trading on Friday, hitting $7.03. The company had a trading volume of 15,133,411 shares, compared to its average volume of 12,562,073. The stock's fifty day moving average price is $7.18 and its 200-day moving average price is $6.59. Iamgold Corporation has a 52-week low of $3.44 and a 52-week high of $8.38. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $4.04 billion, a PE ratio of 4.98, a P/E/G ratio of 0.34 and a beta of 1.15.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last announced its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. Iamgold had a return on equity of 9.26% and a net margin of 45.42%. The firm had revenue of $457.23 million for the quarter, compared to analyst estimates of $578.70 million. As a group, research analysts expect that Iamgold Corporation will post 0.67 earnings per share 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.