300,000 Shares in Iamgold Corporation $IAG Purchased by Masters Capital Management LLC

Masters Capital Management LLC purchased a new stake in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 300,000 shares of the mining company’s stock, valued at approximately $5,646,000.

Several other large investors have also recently added to or reduced their stakes in IAG. Weiss Asset Management LP lifted its position in shares of Iamgold by 5.3% in the 1st quarter. Weiss Asset Management LP now owns 109,020 shares of the mining company’s stock worth $2,052,000 after acquiring an additional 5,460 shares during the period. Absolute Gestao de Investimentos Ltda. bought a new stake in shares of Iamgold during the first quarter valued at approximately $302,000. Cumberland Partners Ltd raised its stake in shares of Iamgold by 22.3% in the first quarter. Cumberland Partners Ltd now owns 33,500 shares of the mining company’s stock valued at $628,000 after purchasing an additional 6,100 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Iamgold in the first quarter valued at $25,685,000. Finally, Renaissance Technologies LLC lifted its position in Iamgold by 3.8% in the first quarter. Renaissance Technologies LLC now owns 3,645,515 shares of the mining company’s stock worth $68,609,000 after purchasing an additional 134,696 shares during the period. Institutional investors and hedge funds own 47.08% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on IAG. Weiss Ratings downgraded shares of Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th. Royal Bank Of Canada dropped their price objective 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 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. Wall Street Zen lowered shares of Iamgold from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, 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. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Iamgold Trading 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 company has a market capitalization of $8.41 billion, a P/E ratio of 8.51, a P/E/G ratio of 0.65 and a beta of 1.30. The firm has a 50-day moving average price of $16.08 and a 200 day moving average price 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 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 firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $955.17 million. Iamgold had a net margin of 29.49% and a return on equity of 26.65%. Research analysts forecast that Iamgold Corporation will post 1.98 earnings per share for the current fiscal year.

About Iamgold

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.