Stevens Capital Management LP Makes New Investment in Iamgold Corporation $IAG

Stevens Capital Management LP purchased a new position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 12,274 shares of the mining company’s stock, valued at approximately $90,000.

Several other hedge funds also recently modified their holdings of the stock. Parallel Advisors LLC boosted its stake in Iamgold by 272.9% during the second quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company’s stock worth $26,000 after acquiring an additional 2,623 shares in the last quarter. Hsbc Holdings PLC increased its stake in Iamgold by 17.8% in the first quarter. Hsbc Holdings PLC now owns 19,973 shares of the mining company’s stock valued at $125,000 after purchasing an additional 3,020 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Iamgold by 10.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 36,901 shares of the mining company’s stock valued at $271,000 after purchasing an additional 3,562 shares during the period. Summit Securities Group LLC bought a new position in shares of Iamgold during the 1st quarter worth about $35,000. Finally, Harvest Portfolios Group Inc. boosted its position in shares of Iamgold by 6.7% during the 1st quarter. Harvest Portfolios Group Inc. now owns 91,349 shares of the mining company’s stock worth $570,000 after purchasing an additional 5,755 shares in the last quarter. Institutional investors own 47.08% of the company’s stock.

Wall Street Analyst Weigh In

IAG has been the subject of a number of research analyst reports. Royal Bank Of Canada raised Iamgold from a “sector perform” rating to an “outperform” rating and boosted their target price for the company from $9.00 to $14.00 in a research report on Wednesday, September 10th. Stifel Canada upgraded Iamgold from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. CIBC increased their target price on Iamgold from $10.40 to $19.00 and gave the stock an “outperformer” rating in a report on Friday, October 10th. Zacks Research downgraded shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a research note on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $15.25.

Iamgold Stock Up 0.6%

IAG stock opened at $12.86 on Monday. The firm has a market capitalization of $7.40 billion, a PE ratio of 9.25, a P/E/G ratio of 0.39 and a beta of 1.22. The company has a quick ratio of 0.76, a current ratio of 1.47 and a debt-to-equity ratio of 0.31. Iamgold Corporation has a twelve month low of $4.98 and a twelve month high of $14.68. The stock’s 50 day moving average is $12.60 and its 200-day moving average is $9.40.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.09. The business had revenue of $714.61 million during the quarter, compared to the consensus estimate of $759.45 million. Iamgold had a return on equity of 8.54% and a net margin of 40.61%. Sell-side analysts expect that Iamgold Corporation will post 0.67 EPS for the current fiscal year.

About Iamgold

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.