Masters Capital Management LLC Takes $5.65 Million Position in Iamgold Corporation $IAG

Masters Capital Management LLC acquired a new stake in Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 300,000 shares of the mining company’s stock, valued at approximately $5,646,000. Masters Capital Management LLC owned about 0.05% of Iamgold at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in Iamgold by 11.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,917,300 shares of the mining company’s stock valued at $64,645,000 after buying an additional 408,800 shares in the last quarter. Rathbones Group PLC boosted its stake in shares of Iamgold by 1,037,042.8% during the 4th quarter. Rathbones Group PLC now owns 418,901,982 shares of the mining company’s stock worth $6,907,694,000 after acquiring an additional 418,861,592 shares in the last quarter. Ninety One UK Ltd raised its stake in shares of Iamgold by 22.3% in the 4th quarter. Ninety One UK Ltd now owns 5,144,604 shares of the mining company’s stock valued at $84,835,000 after acquiring an additional 938,855 shares in the last quarter. PKO Investment Management Joint Stock Co raised its stake in shares of Iamgold by 42.1% in the 4th quarter. PKO Investment Management Joint Stock Co now owns 270,000 shares of the mining company’s stock valued at $4,464,000 after acquiring an additional 80,000 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Iamgold by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 23,836,156 shares of the mining company’s stock worth $393,328,000 after purchasing an additional 1,068,465 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors.

Iamgold Stock Down 0.1%

Shares of IAG stock opened at $14.64 on Monday. 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 $8.41 billion, a PE ratio of 8.51, a price-to-earnings-growth ratio of 0.65 and a beta of 1.30. The stock has a 50 day moving average of $16.08 and a 200-day moving average of $18.25. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.12.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data 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. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $955.17 million. Iamgold had a net margin of 29.49% and a return on equity of 26.65%. On average, equities analysts predict that Iamgold Corporation will post 1.98 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on IAG. Weiss Ratings cut Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Wall Street Zen cut shares of Iamgold from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Bank of America decreased their price objective on shares of Iamgold from $22.50 to $21.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Scotiabank lowered their target price on shares of Iamgold from $25.00 to $22.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. Finally, Zacks Research lowered shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

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.