L1 Capital Pty Ltd Has $20.65 Million Holdings in Iamgold Corporation $IAG

L1 Capital Pty Ltd boosted its position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 961.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,252,077 shares of the mining company’s stock after buying an additional 1,134,119 shares during the quarter. Iamgold makes up about 1.1% of L1 Capital Pty Ltd’s holdings, making the stock its 16th biggest position. L1 Capital Pty Ltd owned about 0.21% of Iamgold worth $20,647,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its holdings in Iamgold by 11.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,917,300 shares of the mining company’s stock valued at $64,645,000 after purchasing an additional 408,800 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in Iamgold by 28.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 587,920 shares of the mining company’s stock valued at $7,602,000 after purchasing an additional 130,400 shares during the period. Waratah Capital Advisors Ltd. boosted its holdings in Iamgold by 731.8% in the 3rd quarter. Waratah Capital Advisors Ltd. now owns 2,113,558 shares of the mining company’s stock valued at $27,328,000 after purchasing an additional 1,859,463 shares during the period. CI Investments Inc. bought a new stake in Iamgold in the 3rd quarter valued at $96,747,000. Finally, Rathbones Group PLC boosted its holdings in Iamgold by 1,037,042.8% in the 4th quarter. Rathbones Group PLC now owns 418,901,982 shares of the mining company’s stock valued at $6,907,694,000 after purchasing an additional 418,861,592 shares during the period. 47.08% of the stock is owned by institutional investors.

Iamgold Trading Up 2.9%

IAG opened at $16.60 on Friday. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. The stock has a market capitalization of $9.60 billion, a PE ratio of 9.65, a PEG ratio of 0.78 and a beta of 1.25. Iamgold Corporation has a 1-year low of $6.69 and a 1-year high of $24.87. The firm has a 50-day moving average price of $17.67 and a two-hundred day moving average price of $18.28.

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

Analyst Upgrades and Downgrades

IAG has been the subject of a number of research reports. Wall Street Zen raised shares of Iamgold from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. TD Securities reaffirmed a “buy” rating on shares of Iamgold in a report on Thursday, February 19th. Zacks Research downgraded shares of Iamgold from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Weiss Ratings downgraded shares of Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Finally, Scotiabank raised their price objective on shares of Iamgold to $25.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.75.

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.