Iamgold Corporation $IAG Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC boosted its stake in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 3.8% in the 1st quarter, Holdings Channel reports. The fund owned 3,645,515 shares of the mining company’s stock after buying an additional 134,696 shares during the period. Renaissance Technologies LLC’s holdings in Iamgold were worth $68,609,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of IAG. Pin Oak Investment Advisors Inc. purchased a new stake in Iamgold in the 4th quarter worth approximately $30,000. Global Retirement Partners LLC purchased a new position in shares of Iamgold during the 4th quarter valued at approximately $33,000. FNY Investment Advisers LLC purchased a new position in shares of Iamgold during the 4th quarter valued at approximately $38,000. LOM Asset Management Ltd acquired a new position in shares of Iamgold in the 4th quarter valued at $49,000. Finally, Banque Cantonale Vaudoise lifted its stake in shares of Iamgold by 617.8% in the 4th quarter. Banque Cantonale Vaudoise now owns 2,986 shares of the mining company’s stock valued at $49,000 after purchasing an additional 2,570 shares during the period. 47.08% of the stock is owned by institutional investors and hedge funds.

Iamgold Stock Performance

NYSE:IAG opened at $14.64 on Monday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.89. The stock has a market capitalization of $8.41 billion, a PE ratio of 8.51, a P/E/G ratio of 0.65 and a beta of 1.30. Iamgold Corporation has a fifty-two week low of $6.69 and a fifty-two week high of $24.87. The company has a fifty day moving average of $16.08 and a two-hundred day moving average of $18.25.

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, 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 business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $955.17 million. As a group, research analysts forecast that Iamgold Corporation will post 1.98 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented 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 research report on Thursday, July 9th. Royal Bank Of Canada lowered their target price 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. Wall Street Zen cut Iamgold from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Zacks Research lowered Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, Weiss Ratings cut Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 9th. 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $19.00.

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.