404,362 Shares in Iamgold Corporation $IAG Acquired by Thomist Capital Management LP

Thomist Capital Management LP acquired a new stake in Iamgold Corporation (NYSE:IAG) (TSE:IMG) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 404,362 shares of the mining company’s stock, valued at approximately $6,405,000. Iamgold makes up about 2.0% of Thomist Capital Management LP’s portfolio, making the stock its 17th biggest position.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in IAG. Royal Bank of Canada lifted its holdings in shares of Iamgold by 14.0% during the first quarter. Royal Bank of Canada now owns 691,322 shares of the mining company’s stock valued at $4,321,000 after purchasing an additional 84,939 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Iamgold by 6.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,420,263 shares of the mining company’s stock worth $15,127,000 after buying an additional 144,160 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Iamgold by 67.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,005,292 shares of the mining company’s stock worth $6,283,000 after buying an additional 404,645 shares in the last quarter. JPMorgan Chase & Co. raised its position in Iamgold by 64.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 228,257 shares of the mining company’s stock worth $1,678,000 after buying an additional 89,197 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in Iamgold by 16.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 532,137 shares of the mining company’s stock worth $3,899,000 after buying an additional 77,016 shares during the last quarter. 47.08% of the stock is owned by institutional investors.

Iamgold Trading Up 3.1%

NYSE:IAG opened at $21.80 on Tuesday. Iamgold Corporation has a one year low of $8.73 and a one year high of $24.87. The business has a fifty day moving average price of $16.35 and a 200-day moving average price of $18.03. The firm has a market capitalization of $12.52 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth ratio of 1.12 and a beta of 1.32. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.71 and a quick ratio of 1.05.

Iamgold (NYSE:IAG) (TSE:IMG) last released its earnings results on Thursday, August 6th. The mining company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. Iamgold had a return on equity of 28.97% and a net margin of 31.40%.The company had revenue of $845.97 million for the quarter, compared to the consensus estimate of $882.92 million. Sell-side analysts forecast that Iamgold Corporation will post 1.92 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Bank of America dropped their price target on shares of Iamgold from $22.50 to $21.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Royal Bank Of Canada decreased their price objective on shares of Iamgold from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Wall Street Zen upgraded shares of Iamgold from a “hold” rating to a “buy” rating in a research report on Saturday. Weiss Ratings cut shares of Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 9th. Finally, Scotiabank raised their target price on shares of Iamgold from $22.00 to $23.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.00.

About Iamgold

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.