Crescent Grove Advisors LLC Makes New Investment in Iamgold Corporation $IAG

Crescent Grove Advisors LLC acquired a new stake in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 52,940 shares of the mining company’s stock, valued at approximately $996,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Banque Transatlantique SA bought a new stake in shares of Iamgold in the 2nd quarter worth about $26,000. Pin Oak Investment Advisors Inc. bought a new position in Iamgold during the 4th quarter valued at about $30,000. Global Retirement Partners LLC acquired a new position in Iamgold in the fourth quarter valued at about $33,000. FNY Investment Advisers LLC acquired a new position in Iamgold in the fourth quarter valued at about $38,000. Finally, LOM Asset Management Ltd bought a new stake in Iamgold during the fourth quarter worth about $49,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Iamgold Trading Down 0.5%

IAG opened at $14.12 on Friday. Iamgold Corporation has a 1-year low of $6.69 and a 1-year high of $24.87. The stock has a market capitalization of $8.11 billion, a PE ratio of 8.21, a PEG ratio of 0.61 and a beta of 1.30. 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 firm has a 50-day moving average price of $16.46 and a two-hundred day moving average price of $18.30.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. Iamgold had a net margin of 29.49% and a return on equity of 26.65%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $955.17 million. As a group, equities analysts anticipate that Iamgold Corporation will post 2.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on IAG shares. Scotiabank dropped their price objective on shares of Iamgold from $25.00 to $22.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Zacks Research downgraded Iamgold from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Bank of America decreased their price target on Iamgold from $22.50 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Weiss Ratings cut Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 9th. Finally, Royal Bank Of Canada cut their price objective on Iamgold from $22.00 to $20.00 and set an “outperform” rating for the company in a research report on Thursday, July 9th. One equities research 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 data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

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.