Iamgold Corporation $IAG Shares Acquired by Waratah Capital Advisors Ltd.

Waratah Capital Advisors Ltd. grew its position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 731.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,113,558 shares of the mining company’s stock after purchasing an additional 1,859,463 shares during the quarter. Iamgold accounts for 0.5% of Waratah Capital Advisors Ltd.’s portfolio, making the stock its 22nd largest position. Waratah Capital Advisors Ltd. owned about 0.37% of Iamgold worth $27,328,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC raised its position in Iamgold by 4.3% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 38,499 shares of the mining company’s stock worth $498,000 after acquiring an additional 1,598 shares in the last quarter. Tsfg LLC bought a new stake in shares of Iamgold in the 3rd quarter worth approximately $26,000. Measured Wealth Private Client Group LLC lifted its stake in Iamgold by 4.0% during the second quarter. Measured Wealth Private Client Group LLC now owns 89,293 shares of the mining company’s stock valued at $656,000 after purchasing an additional 3,396 shares during the last quarter. Banque Transatlantique SA bought a new stake in Iamgold during the second quarter worth approximately $26,000. Finally, Leuthold Group LLC boosted its holdings in Iamgold by 0.5% during the third quarter. Leuthold Group LLC now owns 822,615 shares of the mining company’s stock worth $10,636,000 after buying an additional 3,878 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Iamgold Trading Up 0.6%

Iamgold stock opened at $22.90 on Wednesday. Iamgold Corporation has a 12 month low of $5.02 and a 12 month high of $23.13. The company has a quick ratio of 1.02, a current ratio of 1.75 and a debt-to-equity ratio of 0.15. The stock has a market cap of $13.50 billion, a P/E ratio of 19.91, a P/E/G ratio of 0.27 and a beta of 1.36. The company’s fifty day simple moving average is $18.94 and its 200-day simple moving average is $14.54.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Tuesday, February 17th. The mining company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.15. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. Iamgold had a return on equity of 19.26% and a net margin of 23.29%. As a group, sell-side analysts forecast that Iamgold Corporation will post 0.67 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on IAG. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Iamgold in a research report on Wednesday, February 4th. Zacks Research cut Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Weiss Ratings reissued a “buy (b)” rating on shares of Iamgold in a research report on Thursday, January 22nd. Scotiabank upped their price target on shares of Iamgold to $23.00 and gave the company a “sector perform” rating in a research report on Monday, January 26th. Finally, Wall Street Zen raised shares of Iamgold from a “buy” rating to a “strong-buy” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Iamgold currently has an average rating of “Moderate Buy” and an average target price of $17.25.

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.