Quantbot Technologies LP Makes New Investment in Iamgold Corporation $IAG

Quantbot Technologies LP purchased a new position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the second quarter, HoldingsChannel.com reports. The fund purchased 75,413 shares of the mining company’s stock, valued at approximately $1,195,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. William Blair Investment Management LLC acquired a new stake in shares of Iamgold during the second quarter valued at $11,314,000. Callan Family Office LLC acquired a new stake in shares of Iamgold during the 2nd quarter worth about $191,000. Donald Smith & CO. Inc. acquired a new position in shares of Iamgold in the second quarter valued at approximately $206,146,000. Ninepoint Partners LP acquired a new position in shares of Iamgold in the second quarter valued at approximately $6,429,000. Finally, E Fund Management Co. Ltd. purchased a new position in shares of Iamgold during the second quarter valued at approximately $281,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on IAG shares. Royal Bank Of Canada lowered their target price on shares of Iamgold from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Bank of America reduced their price target on Iamgold from $22.50 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Jefferies Financial Group began coverage on Iamgold in a report on Thursday, August 20th. They set a “buy” rating and a $24.00 price objective on the stock. Wall Street Zen raised Iamgold from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Weiss Ratings downgraded Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Two equities research 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. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $20.00.

Iamgold Trading Up 1.6%

NYSE IAG opened at $22.16 on Wednesday. The company has a market cap of $12.72 billion, a P/E ratio of 11.19, a P/E/G ratio of 1.16 and a beta of 1.32. Iamgold Corporation has a 12 month low of $8.86 and a 12 month high of $24.87. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.71 and a quick ratio of 1.05. The company has a 50-day moving average of $16.43 and a 200-day moving average of $18.05.

Iamgold (NYSE:IAG) (TSE:IMG) last released its 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. Iamgold had a net margin of 31.40% and a return on equity of 28.97%. The business had revenue of $845.97 million for the quarter, compared to analysts’ expectations of $882.92 million. As a group, equities analysts predict that Iamgold Corporation will post 1.92 earnings per share for the current year.

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.