Cvfg LLC Purchases New Holdings in Iamgold Corporation $IAG

Cvfg LLC purchased a new stake in Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 65,650 shares of the mining company’s stock, valued at approximately $1,236,000.

A number of other hedge funds also recently modified their holdings of the company. Rathbones Group PLC grew its holdings in shares of Iamgold by 1,037,042.8% during the 4th quarter. Rathbones Group PLC now owns 418,901,982 shares of the mining company’s stock worth $6,907,694,000 after purchasing an additional 418,861,592 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Iamgold by 35.7% in the third quarter. Van ECK Associates Corp now owns 51,992,067 shares of the mining company’s stock valued at $672,253,000 after purchasing an additional 13,691,148 shares in the last quarter. FIL Ltd lifted its position in Iamgold by 124.0% in the fourth quarter. FIL Ltd now owns 36,367,149 shares of the mining company’s stock worth $600,135,000 after purchasing an additional 20,134,496 shares during the period. Vanguard Group Inc. lifted its position in Iamgold by 4.7% in the fourth quarter. Vanguard Group Inc. now owns 23,836,156 shares of the mining company’s stock worth $393,328,000 after purchasing an additional 1,068,465 shares during the period. Finally, Bank of America Corp DE boosted its stake in Iamgold by 16.4% during the third quarter. Bank of America Corp DE now owns 11,194,505 shares of the mining company’s stock worth $144,745,000 after buying an additional 1,581,064 shares in the last quarter. Institutional investors own 47.08% of the company’s stock.

Iamgold Trading Down 4.3%

Shares of IAG opened at $15.85 on Wednesday. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. The stock has a market cap of $9.16 billion, a PE ratio of 9.21, a PEG ratio of 0.80 and a beta of 1.30. Iamgold Corporation has a 1 year low of $6.69 and a 1 year high of $24.87. The stock has a 50 day simple moving average of $16.85 and a 200-day simple moving average of $18.44.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 EPS 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 business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $955.17 million. On average, sell-side analysts predict that Iamgold Corporation will post 2.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on IAG. Weiss Ratings lowered shares of Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 9th. Zacks Research lowered shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $17.75.

Iamgold Company 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.