Jupiter Topco LLC Invests $5.66 Million in Iamgold Corporation $IAG

Jupiter Topco LLC acquired a new stake in Iamgold Corporation (NYSE:IAG) (TSE:IMG) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 357,595 shares of the mining company’s stock, valued at approximately $5,664,000.

A number of other institutional investors also recently modified their holdings of the company. Banque Transatlantique SA bought a new position in Iamgold during the second quarter worth $26,000. Pin Oak Investment Advisors Inc. acquired a new position in Iamgold in the fourth quarter valued at $30,000. Global Retirement Partners LLC acquired a new position in Iamgold in the fourth quarter valued at $33,000. Western Wealth Management LLC bought a new stake in Iamgold during the first quarter valued at $43,000. Finally, Banque Cantonale Vaudoise boosted its position in Iamgold by 617.8% during the fourth quarter. Banque Cantonale Vaudoise now owns 2,986 shares of the mining company’s stock valued at $49,000 after acquiring an additional 2,570 shares during the last quarter. 47.08% of the stock is owned by institutional investors.

Iamgold Trading Down 0.6%

IAG opened at $20.46 on Tuesday. Iamgold Corporation has a 1-year low of $8.97 and a 1-year high of $24.87. The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 0.10. The company has a market cap of $11.68 billion, a P/E ratio of 10.33, a price-to-earnings-growth ratio of 1.09 and a beta of 1.32. The company has a fifty day moving average price of $16.75 and a two-hundred day moving average price of $18.08.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Thursday, August 6th. The mining company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $845.97 million for the quarter, compared to analyst estimates of $882.92 million. Iamgold had a net margin of 31.40% and a return on equity of 28.97%. Analysts predict that Iamgold Corporation will post 1.92 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on IAG. Royal Bank Of Canada lowered their price objective on Iamgold from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. Bank of America cut their target price on Iamgold from $22.50 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Wall Street Zen raised Iamgold from a “hold” rating to a “buy” rating in a research note on Saturday, August 22nd. Scotiabank lifted their target price on Iamgold from $22.00 to $23.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 12th. Finally, Jefferies Financial Group initiated coverage on Iamgold in a research note on Thursday, August 20th. They issued a “buy” rating and a $24.00 price target on the stock. Two investment analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Iamgold currently has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Iamgold Company 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.