Renaissance Technologies LLC Purchases 134,696 Shares of Iamgold Corporation $IAG

Renaissance Technologies LLC grew its holdings in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 3.8% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,645,515 shares of the mining company’s stock after purchasing an additional 134,696 shares during the quarter. Renaissance Technologies LLC owned approximately 0.63% of Iamgold worth $68,609,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IAG. Wall Street Zen downgraded Iamgold from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Zacks Research downgraded Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Scotiabank reduced their target price on Iamgold from $25.00 to $22.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. Weiss Ratings cut Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th. Finally, Royal Bank Of Canada lowered their price target on Iamgold from $22.00 to $20.00 and set an “outperform” rating for the company in a 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 issued a Hold rating to the company’s stock. According to data from MarketBeat, Iamgold currently has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Iamgold Price Performance

NYSE 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 stock’s fifty day moving average price is $16.08 and its 200 day moving average price is $18.25. Iamgold Corporation has a 1 year low of $6.69 and a 1 year high of $24.87. The company has a market cap of $8.41 billion, a price-to-earnings ratio of 8.51, a PEG ratio of 0.65 and a beta of 1.30.

Iamgold (NYSE:IAG) (TSE:IMG) last issued 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 return on equity of 26.65% and a net margin of 29.49%.The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $955.17 million. As a group, equities research analysts forecast that Iamgold Corporation will post 1.98 earnings per share for the current year.

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.