Havemeyer Place LP Takes $1.21 Million Position in Iamgold Corporation $IAG

Havemeyer Place LP purchased a new stake in Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 73,243 shares of the mining company’s stock, valued at approximately $1,208,000.

Other hedge funds also recently made changes to their positions in the company. Global Retirement Partners LLC purchased a new position in shares of Iamgold in the fourth quarter valued at $33,000. FNY Investment Advisers LLC purchased a new position in Iamgold during the fourth quarter worth about $38,000. LOM Asset Management Ltd purchased a new position in Iamgold during the fourth quarter worth about $49,000. Banque Cantonale Vaudoise grew 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 worth $49,000 after buying an additional 2,570 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in Iamgold during the fourth quarter worth about $57,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Iamgold Trading Down 0.0%

Shares of IAG stock opened at $15.42 on Monday. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.12. The business has a 50-day moving average price of $17.91 and a two-hundred day moving average price of $18.23. Iamgold Corporation has a 12-month low of $6.69 and a 12-month high of $24.87. The firm has a market cap of $8.91 billion, a P/E ratio of 8.96, a price-to-earnings-growth ratio of 0.74 and a beta of 1.25.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.14. Iamgold had a return on equity of 26.65% and a net margin of 29.49%.The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $955.17 million. Equities analysts anticipate that Iamgold Corporation will post 2.27 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently commented on IAG. TD Securities restated a “buy” rating on shares of Iamgold in a research report on Thursday, February 19th. Scotiabank boosted their target price on Iamgold to $25.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 25th. Wall Street Zen upgraded Iamgold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Zacks Research cut Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a research report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $17.75.

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.