Iamgold Corporation $IAG Shares Bought by Quadrature Capital Ltd

Quadrature Capital Ltd boosted its stake in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 4,887.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,670,421 shares of the mining company’s stock after acquiring an additional 2,616,878 shares during the quarter. Quadrature Capital Ltd’s holdings in Iamgold were worth $34,534,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in IAG. Van ECK Associates Corp raised its stake in shares of Iamgold by 35.7% in the 3rd quarter. Van ECK Associates Corp now owns 51,992,067 shares of the mining company’s stock valued at $672,253,000 after acquiring an additional 13,691,148 shares during the period. Vanguard Group Inc. boosted its position in shares of Iamgold by 3.5% during the 3rd quarter. Vanguard Group Inc. now owns 22,767,691 shares of the mining company’s stock worth $294,151,000 after purchasing an additional 778,680 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of Iamgold by 12.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 20,917,319 shares of the mining company’s stock worth $154,046,000 after purchasing an additional 2,302,527 shares during the period. Mackenzie Financial Corp increased its holdings in Iamgold by 46.9% in the 3rd quarter. Mackenzie Financial Corp now owns 11,181,693 shares of the mining company’s stock valued at $144,430,000 after purchasing an additional 3,567,399 shares during the last quarter. Finally, CI Investments Inc. acquired a new stake in Iamgold in the 3rd quarter valued at approximately $96,747,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Iamgold Price Performance

Iamgold stock opened at $21.38 on Friday. The firm has a market cap of $12.61 billion, a PE ratio of 18.59, a price-to-earnings-growth ratio of 1.73 and a beta of 1.33. Iamgold Corporation has a 52-week low of $5.35 and a 52-week high of $24.87. The company has a quick ratio of 1.02, a current ratio of 1.75 and a debt-to-equity ratio of 0.15. The company’s 50 day moving average is $20.32 and its two-hundred day moving average is $15.66.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Tuesday, February 17th. The mining company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.55 by $0.15. Iamgold had a net margin of 23.29% and a return on equity of 19.26%. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. On average, research analysts expect that Iamgold Corporation will post 0.67 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on IAG shares. Wall Street Zen raised Iamgold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Zacks Research raised Iamgold from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. TD Securities reiterated a “buy” rating on shares of Iamgold in a report on Thursday, February 19th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Iamgold in a research note on Wednesday, February 4th. Finally, Scotiabank raised their target price on Iamgold to $25.00 and gave the company a “sector perform” rating in a report on Wednesday, February 25th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $17.75.

Insider Activity

In related news, Director David Stewart Smith sold 31,000 shares of Iamgold stock in a transaction on Friday, February 27th. The stock was sold at an average price of $32.87, for a total value of $1,018,970.00. Following the completion of the transaction, the director directly owned 20,000 shares in the company, valued at approximately $657,400. This trade represents a 60.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.17% of the company’s stock.

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.