20,000 Shares in IAMGOLD Co. (NYSE:IAG) Bought by Linscomb Wealth Inc.

Linscomb Wealth Inc. bought a new position in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 20,000 shares of the mining company’s stock, valued at approximately $67,000.

Several other large investors have also bought and sold shares of the stock. Euro Pacific Asset Management LLC grew its holdings in IAMGOLD by 48.1% during the 4th quarter. Euro Pacific Asset Management LLC now owns 2,727,065 shares of the mining company’s stock worth $6,898,000 after acquiring an additional 885,697 shares during the period. Norges Bank acquired a new stake in IAMGOLD during the 4th quarter worth about $8,642,000. P Schoenfeld Asset Management LP grew its holdings in IAMGOLD by 11.1% during the 4th quarter. P Schoenfeld Asset Management LP now owns 8,234,284 shares of the mining company’s stock worth $20,833,000 after acquiring an additional 822,149 shares during the period. Helikon Investments Ltd grew its holdings in IAMGOLD by 250.5% during the 1st quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock worth $109,429,000 after acquiring an additional 23,485,183 shares during the period. Finally, Headlands Technologies LLC acquired a new stake in IAMGOLD during the 1st quarter worth about $389,000. 47.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. BMO Capital Markets reiterated an “outperform” rating and set a $5.00 price target on shares of IAMGOLD in a report on Thursday, June 6th. StockNews.com upgraded IAMGOLD from a “sell” rating to a “hold” rating in a report on Tuesday, July 9th. Scotiabank raised their target price on IAMGOLD from $4.25 to $4.50 and gave the company a “sector perform” rating in a research note on Thursday, June 6th. CIBC raised their target price on IAMGOLD from $4.80 to $4.90 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. Finally, National Bank Financial restated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research note on Monday, April 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $4.02.

IAMGOLD Stock Performance

NYSE IAG remained flat at $3.92 during trading hours on Friday. 6,791,113 shares of the company traded hands, compared to its average volume of 8,854,223. IAMGOLD Co. has a twelve month low of $1.99 and a twelve month high of $4.59. The stock has a market capitalization of $2.23 billion, a P/E ratio of 14.00 and a beta of 1.56. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.91 and a quick ratio of 0.55. The company’s 50 day moving average price is $3.91 and its 200-day moving average price is $3.39.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Thursday, May 9th. The mining company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.09. IAMGOLD had a net margin of 12.48% and a return on equity of 3.17%. The business had revenue of $338.90 million for the quarter. During the same period in the previous year, the business posted $0.05 EPS. Research analysts anticipate that IAMGOLD Co. will post 0.33 EPS for the current fiscal year.

About IAMGOLD

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.