53,543 Shares in Iamgold Corporation $IAG Purchased by Quadrature Capital Ltd

Quadrature Capital Ltd purchased a new stake in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 53,543 shares of the mining company’s stock, valued at approximately $394,000.

Several other institutional investors have also added to or reduced their stakes in IAG. Bank of New York Mellon Corp boosted its position in shares of Iamgold by 40.6% during the 1st quarter. Bank of New York Mellon Corp now owns 49,282 shares of the mining company’s stock valued at $308,000 after acquiring an additional 14,236 shares during the last quarter. Avantax Advisory Services Inc. bought a new stake in Iamgold in the first quarter worth $86,000. Cetera Investment Advisers raised its stake in Iamgold by 2.5% during the first quarter. Cetera Investment Advisers now owns 311,376 shares of the mining company’s stock valued at $1,946,000 after purchasing an additional 7,677 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Iamgold by 12.8% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 155,690 shares of the mining company’s stock valued at $971,000 after purchasing an additional 17,636 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in Iamgold during the first quarter valued at $1,097,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Iamgold Stock Performance

Iamgold stock opened at $14.98 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.47 and a quick ratio of 0.76. The firm has a market capitalization of $8.62 billion, a P/E ratio of 10.78, a price-to-earnings-growth ratio of 0.39 and a beta of 1.38. Iamgold Corporation has a 1-year low of $4.98 and a 1-year high of $15.80. The company’s 50-day moving average is $13.11 and its 200 day moving average is $9.82.

Iamgold (NYSE:IAG) (TSE:IMG) last released its earnings results on Tuesday, November 4th. The mining company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. Iamgold had a return on equity of 8.54% and a net margin of 40.61%.The firm had revenue of $714.61 million for the quarter, compared to analysts’ expectations of $759.45 million. Research analysts forecast that Iamgold Corporation will post 0.67 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on IAG shares. CIBC boosted their target price on shares of Iamgold from $10.40 to $19.00 and gave the stock an “outperformer” rating in a report on Friday, October 10th. Zacks Research lowered Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Scotiabank boosted their price objective on Iamgold from $8.50 to $15.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. Wall Street Zen upgraded Iamgold from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Iamgold in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $15.25.

Iamgold Profile

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.