Havemeyer Place LP Makes New Investment in Iamgold Corporation $IAG

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

Other hedge funds have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC bought a new stake in Iamgold during the fourth quarter worth about $33,000. FNY Investment Advisers LLC bought a new stake in shares of Iamgold in the 4th quarter valued at about $38,000. LOM Asset Management Ltd bought a new stake in shares of Iamgold in the 4th quarter valued at about $49,000. Banque Cantonale Vaudoise lifted its stake in shares of Iamgold by 617.8% in the 4th 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. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Iamgold in the 4th quarter valued at about $57,000. Institutional investors own 47.08% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Zacks Research lowered Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Iamgold in a research note on Tuesday, April 21st. Wall Street Zen raised Iamgold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. TD Securities reissued a “buy” rating on shares of Iamgold in a research note on Thursday, February 19th. Finally, Scotiabank boosted their target price on Iamgold to $25.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $17.75.

Iamgold Trading Down 0.0%

NYSE IAG opened at $15.42 on Monday. The stock has a 50-day moving average of $17.91 and a 200-day moving average of $18.23. The firm has a market cap of $8.91 billion, a PE ratio of 8.96, a price-to-earnings-growth ratio of 0.74 and a beta of 1.25. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. Iamgold Corporation has a 1-year low of $6.69 and a 1-year high of $24.87.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $955.17 million. Iamgold had a return on equity of 26.65% and a net margin of 29.49%. As a group, sell-side analysts forecast that Iamgold Corporation will post 2.27 EPS 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.