65,650 Shares in Iamgold Corporation $IAG Acquired by Cvfg LLC

Cvfg LLC acquired a new stake in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 65,650 shares of the mining company’s stock, valued at approximately $1,236,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Rathbones Group PLC increased its stake in shares of Iamgold by 1,037,042.8% during the 4th 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. FIL Ltd boosted its holdings in Iamgold by 124.0% in the fourth quarter. FIL Ltd now owns 36,367,149 shares of the mining company’s stock worth $600,135,000 after purchasing an additional 20,134,496 shares in the last quarter. Van ECK Associates Corp boosted its holdings in 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 purchasing an additional 13,691,148 shares in the last quarter. Mackenzie Financial Corp increased its position in Iamgold by 46.9% during the third quarter. Mackenzie Financial Corp now owns 11,181,693 shares of the mining company’s stock worth $144,430,000 after buying an additional 3,567,399 shares during the last quarter. Finally, Quadrature Capital Ltd raised its holdings in Iamgold by 4,887.4% during the third quarter. Quadrature Capital Ltd now owns 2,670,421 shares of the mining company’s stock valued at $34,534,000 after buying an additional 2,616,878 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Iamgold Stock Performance

Shares of NYSE IAG opened at $15.85 on Wednesday. Iamgold Corporation has a 12 month low of $6.69 and a 12 month high of $24.87. The company has a market cap of $9.16 billion, a P/E ratio of 9.21, a P/E/G ratio of 0.80 and a beta of 1.30. The business’s 50 day moving average is $16.85 and its two-hundred day moving average is $18.44. 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 earnings per share 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 company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $955.17 million. On average, equities analysts expect that Iamgold Corporation will post 2.27 EPS for the current year.

Analysts Set New Price Targets

IAG has been the subject of a number of analyst reports. Zacks Research cut Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Weiss Ratings downgraded Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.75.

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.