1,364,975 Shares in Iamgold Corporation $IAG Bought by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund purchased a new position 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 1,364,975 shares of the mining company’s stock, valued at approximately $25,685,000.

A number of other institutional investors have also recently added to or reduced their stakes in IAG. Renaissance Technologies LLC lifted its holdings in Iamgold by 3.8% during the 1st quarter. Renaissance Technologies LLC now owns 3,645,515 shares of the mining company’s stock worth $68,609,000 after buying an additional 134,696 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in Iamgold by 2.1% in the first quarter. Public Employees Retirement System of Ohio now owns 200,607 shares of the mining company’s stock valued at $3,759,000 after buying an additional 4,073 shares during the period. State of Wyoming grew its holdings in Iamgold by 71.0% during the 1st quarter. State of Wyoming now owns 22,709 shares of the mining company’s stock worth $427,000 after acquiring an additional 9,431 shares during the period. First Trust Advisors LP boosted its position in shares of Iamgold by 82.0% during the 1st quarter. First Trust Advisors LP now owns 582,271 shares of the mining company’s stock valued at $10,952,000 after purchasing an additional 262,264 shares in the last quarter. Finally, Baader Bank Aktiengesellschaft bought a new stake in Iamgold in the first quarter worth approximately $530,000. 47.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on IAG. Scotiabank decreased their price target on shares of Iamgold from $25.00 to $22.00 and set a “sector perform” rating for the company in a research note on Tuesday, July 14th. Royal Bank Of Canada dropped their price objective on shares of Iamgold from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Weiss Ratings downgraded Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th. Bank of America lowered their price target on Iamgold from $22.50 to $21.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Finally, Wall Street Zen lowered shares of Iamgold from a “strong-buy” rating to a “buy” rating in a research report on Saturday. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Iamgold currently has an average rating of “Moderate Buy” and an average target price of $19.00.

Iamgold Stock Performance

Shares of IAG opened at $14.64 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.89 and a quick ratio of 1.21. The firm has a market cap of $8.41 billion, a PE ratio of 8.51, a PEG ratio of 0.65 and a beta of 1.30. Iamgold Corporation has a 1 year low of $6.69 and a 1 year high of $24.87. The stock’s fifty day moving average price is $16.08 and its two-hundred day moving average price is $18.25.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate 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. On average, equities research analysts forecast that Iamgold Corporation will post 1.98 EPS for the current year.

Iamgold 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.