Healthcare of Ontario Pension Plan Trust Fund Buys New Position in Iamgold Corporation $IAG

Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,364,975 shares of the mining company’s stock, valued at approximately $25,685,000. Healthcare of Ontario Pension Plan Trust Fund owned about 0.24% of Iamgold as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IAG. Banque Transatlantique SA bought a new position in Iamgold in the second quarter valued at $26,000. Pin Oak Investment Advisors Inc. bought a new position in shares of Iamgold in the 4th quarter valued at about $30,000. Global Retirement Partners LLC acquired a new stake in shares of Iamgold in the fourth quarter valued at about $33,000. FNY Investment Advisers LLC bought a new stake in Iamgold during the fourth quarter worth about $38,000. Finally, LOM Asset Management Ltd acquired a new position in Iamgold during the fourth quarter valued at approximately $49,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Iamgold Stock Performance

NYSE IAG opened at $14.64 on Monday. Iamgold Corporation has a 12-month low of $6.69 and a 12-month high of $24.87. The firm has a 50-day moving average price of $16.08 and a two-hundred day moving average price of $18.25. The company has a market capitalization of $8.41 billion, a P/E ratio of 8.51, a P/E/G ratio of 0.65 and a beta of 1.30. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.12.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Tuesday, May 5th. The mining company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $955.17 million. Iamgold had a return on equity of 26.65% and a net margin of 29.49%. Analysts anticipate that Iamgold Corporation will post 1.98 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IAG has been the subject of several recent analyst reports. Scotiabank cut their price objective on Iamgold from $25.00 to $22.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Bank of America dropped their target price on shares of Iamgold from $22.50 to $21.00 and set a “buy” rating on the stock in a report on Thursday, July 9th. Royal Bank Of Canada dropped their price objective on Iamgold from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. Zacks Research lowered Iamgold from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Finally, Wall Street Zen downgraded shares of Iamgold from a “strong-buy” rating to a “buy” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $19.00.

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.