818,721 Shares in Iamgold Corporation $IAG Bought by Walleye Capital LLC

Walleye Capital LLC purchased a new position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the second quarter, HoldingsChannel.com reports. The firm purchased 818,721 shares of the mining company’s stock, valued at approximately $12,969,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. FIL Ltd increased its stake in Iamgold by 124.0% in the fourth quarter. FIL Ltd now owns 36,367,149 shares of the mining company’s stock valued at $600,135,000 after purchasing an additional 20,134,496 shares during the period. Vanguard Group Inc. boosted its stake in shares of Iamgold by 4.7% during the fourth quarter. Vanguard Group Inc. now owns 23,836,156 shares of the mining company’s stock worth $393,328,000 after buying an additional 1,068,465 shares during the period. Bank of America Corp DE boosted its stake in shares of Iamgold by 16.4% during the third quarter. Bank of America Corp DE now owns 11,194,505 shares of the mining company’s stock worth $144,745,000 after buying an additional 1,581,064 shares during the period. Ninety One UK Ltd grew its holdings in shares of Iamgold by 22.3% during the fourth quarter. Ninety One UK Ltd now owns 5,144,604 shares of the mining company’s stock worth $84,835,000 after buying an additional 938,855 shares during the last quarter. Finally, Picton Mahoney Asset Management grew its holdings in shares of Iamgold by 29.2% during the fourth quarter. Picton Mahoney Asset Management now owns 5,028,974 shares of the mining company’s stock worth $83,106,000 after buying an additional 1,135,552 shares during the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on IAG. Royal Bank Of Canada dropped their price target on Iamgold from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Weiss Ratings cut Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Bank of America dropped their target price on Iamgold from $22.50 to $21.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Scotiabank upped their price target on Iamgold from $22.00 to $23.00 and gave the stock a “sector perform” rating in a research note on Wednesday. Finally, Wall Street Zen downgraded Iamgold from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Iamgold presently has an average rating of “Moderate Buy” and an average target price of $19.20.

Iamgold Trading Up 3.1%

Shares of Iamgold stock opened at $18.30 on Friday. Iamgold Corporation has a 52-week low of $7.89 and a 52-week high of $24.87. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 0.10. The company’s 50-day simple moving average is $15.87 and its 200-day simple moving average is $18.05. The firm has a market cap of $10.51 billion, a price-to-earnings ratio of 9.24, a price-to-earnings-growth ratio of 0.94 and a beta of 1.32.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Thursday, August 6th. The mining company reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $845.97 million during the quarter, compared to analysts’ expectations of $882.92 million. Iamgold had a net margin of 31.40% and a return on equity of 28.97%. As a group, equities research analysts anticipate that Iamgold Corporation will post 1.91 earnings per share for the current year.

Iamgold Profile

IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.

The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.