Iamgold Corporation $IAG Holdings Lifted by Entropy Technologies LP

Entropy Technologies LP boosted its position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 37.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 259,453 shares of the mining company’s stock after buying an additional 70,902 shares during the period. Entropy Technologies LP’s holdings in Iamgold were worth $4,278,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Eschler Asset Management LLP bought a new position in Iamgold during the fourth quarter valued at about $1,397,000. Marshall Wace LLP bought a new position in Iamgold during the fourth quarter valued at about $13,183,000. The Manufacturers Life Insurance Company boosted its stake in Iamgold by 342.9% during the fourth quarter. The Manufacturers Life Insurance Company now owns 2,741,354 shares of the mining company’s stock valued at $45,333,000 after buying an additional 2,122,442 shares in the last quarter. Pin Oak Investment Advisors Inc. bought a new position in Iamgold during the fourth quarter valued at about $30,000. Finally, Bridgefront Capital LLC bought a new position in Iamgold during the fourth quarter valued at about $283,000. Institutional investors own 47.08% of the company’s stock.

Iamgold Trading Down 0.3%

NYSE:IAG opened at $16.60 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. Iamgold Corporation has a fifty-two week low of $6.69 and a fifty-two week high of $24.87. The stock’s 50-day moving average is $17.67 and its two-hundred day moving average is $18.31. The stock has a market cap of $9.60 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 0.80 and a beta of 1.25.

Iamgold (NYSE:IAG) (TSE:IMG) last released its earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $955.17 million. As a group, equities research analysts forecast that Iamgold Corporation will post 2.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on IAG shares. TD Securities reaffirmed a “buy” rating on shares of Iamgold in a research note on Thursday, February 19th. Weiss Ratings cut Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th. Scotiabank lifted their price target on Iamgold to $25.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 25th. Wall Street Zen raised Iamgold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Finally, Zacks Research cut Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. One equities 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’s stock. Based on data from MarketBeat.com, Iamgold has an average rating of “Moderate Buy” and an average price target of $17.75.

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.