Iamgold Corporation $IAG Stake Boosted by Entropy Technologies LP

Entropy Technologies LP increased its position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 37.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 259,453 shares of the mining company’s stock after purchasing an additional 70,902 shares during the quarter. Entropy Technologies LP’s holdings in Iamgold were worth $4,278,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its stake in Iamgold by 11.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,917,300 shares of the mining company’s stock worth $64,645,000 after purchasing an additional 408,800 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in Iamgold by 28.5% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 587,920 shares of the mining company’s stock worth $7,602,000 after purchasing an additional 130,400 shares during the last quarter. Waratah Capital Advisors Ltd. lifted its stake in Iamgold by 731.8% during the third quarter. Waratah Capital Advisors Ltd. now owns 2,113,558 shares of the mining company’s stock worth $27,328,000 after purchasing an additional 1,859,463 shares during the last quarter. CI Investments Inc. bought a new position in Iamgold during the third quarter worth $96,747,000. Finally, Rathbones Group PLC lifted its stake in 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. 47.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on IAG. TD Securities reaffirmed a “buy” rating on shares of Iamgold in a research report on Thursday, February 19th. Weiss Ratings lowered Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Scotiabank increased their target price on Iamgold to $25.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 25th. Zacks Research lowered Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, Wall Street Zen raised Iamgold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Iamgold currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.75.

Iamgold Price Performance

Shares of IAG opened at $16.60 on Monday. The firm has a market capitalization of $9.60 billion, a price-to-earnings ratio of 9.65, a price-to-earnings-growth ratio of 0.80 and a beta of 1.25. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.89. Iamgold Corporation has a one year low of $6.69 and a one year high of $24.87. The stock’s fifty day moving average is $17.67 and its 200-day moving average is $18.31.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. The company 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%. Equities analysts anticipate that Iamgold Corporation will post 2.27 EPS for the current year.

About Iamgold

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.