Crescent Grove Advisors LLC Takes $996,000 Position in Iamgold Corporation $IAG

Crescent Grove Advisors LLC acquired a new position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 52,940 shares of the mining company’s stock, valued at approximately $996,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Mariner LLC raised its stake in Iamgold by 0.6% during the 4th quarter. Mariner LLC now owns 110,033 shares of the mining company’s stock valued at $1,814,000 after purchasing an additional 615 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its holdings in shares of Iamgold by 1.9% during the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 37,000 shares of the mining company’s stock worth $612,000 after purchasing an additional 700 shares during the period. Public Employees Retirement System of Ohio raised its position in shares of Iamgold by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 220,452 shares of the mining company’s stock valued at $2,849,000 after buying an additional 1,303 shares during the last quarter. Northwest & Ethical Investments L.P. lifted its stake in shares of Iamgold by 0.4% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 343,605 shares of the mining company’s stock valued at $5,716,000 after buying an additional 1,424 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of Iamgold by 4.8% in the fourth quarter. Franklin Resources Inc. now owns 32,011 shares of the mining company’s stock valued at $528,000 after buying an additional 1,474 shares during the period. Institutional investors own 47.08% of the company’s stock.

Iamgold Stock Performance

NYSE IAG opened at $14.12 on Friday. Iamgold Corporation has a twelve month low of $6.69 and a twelve month high of $24.87. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.12. The stock has a market cap of $8.11 billion, a P/E ratio of 8.21, a PEG ratio of 0.61 and a beta of 1.30. The company’s 50-day simple moving average is $16.46 and its 200 day simple moving average is $18.30.

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, topping analysts’ consensus estimates of $0.52 by $0.14. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $955.17 million. Iamgold had a net margin of 29.49% and a return on equity of 26.65%. As a group, research analysts forecast that Iamgold Corporation will post 2.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Scotiabank cut their price target on Iamgold from $25.00 to $22.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Royal Bank Of Canada decreased their price objective on Iamgold from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Weiss Ratings cut Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Zacks Research lowered Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Finally, Bank of America reduced their target price on Iamgold from $22.50 to $21.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $19.00.

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.