Eschler Asset Management LLP Invests $1.40 Million in Iamgold Corporation $IAG

Eschler Asset Management LLP purchased a new position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 84,717 shares of the mining company’s stock, valued at approximately $1,397,000. Iamgold comprises 0.9% of Eschler Asset Management LLP’s investment portfolio, making the stock its 23rd largest holding.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Rathbones Group PLC grew its holdings in shares of Iamgold by 1,037,042.8% during the fourth 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 during the last quarter. Van ECK Associates Corp lifted 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 worth $672,253,000 after acquiring an additional 13,691,148 shares during the period. Vanguard Group Inc. lifted its stake in shares of 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 acquiring an additional 1,068,465 shares during the period. Bank of America Corp DE lifted its stake in shares of Iamgold by 16.4% in 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 acquiring an additional 1,581,064 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in shares of Iamgold by 46.9% in the third quarter. Mackenzie Financial Corp now owns 11,181,693 shares of the mining company’s stock worth $144,430,000 after acquiring an additional 3,567,399 shares during the period. 47.08% of the stock is currently owned by institutional investors.

Iamgold Price Performance

Iamgold stock opened at $16.60 on Friday. Iamgold Corporation has a one year low of $6.69 and a one year high of $24.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.89 and a quick ratio of 1.21. The stock’s 50 day moving average is $17.67 and its 200 day moving average is $18.28. The firm has a market cap of $9.60 billion, a P/E ratio of 9.65, a P/E/G ratio of 0.80 and a beta of 1.25.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share (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 firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $955.17 million. As a group, research analysts expect that Iamgold Corporation will post 2.27 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on IAG. Scotiabank lifted their price objective on Iamgold to $25.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 25th. TD Securities reaffirmed a “buy” rating on shares of Iamgold in a research note on Thursday, February 19th. Wall Street Zen raised Iamgold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Weiss Ratings lowered Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Finally, Zacks Research lowered Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $17.75.

Iamgold 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.