Eschler Asset Management LLP Purchases New Stake in Iamgold Corporation $IAG

Eschler Asset Management LLP purchased a new stake in Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 84,717 shares of the mining company’s stock, valued at approximately $1,397,000. Iamgold makes up about 0.9% of Eschler Asset Management LLP’s investment portfolio, making the stock its 23rd biggest holding.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position in Iamgold by 11.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,917,300 shares of the mining company’s stock valued at $64,645,000 after acquiring an additional 408,800 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in Iamgold by 28.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 587,920 shares of the mining company’s stock valued at $7,602,000 after acquiring an additional 130,400 shares during the last quarter. Waratah Capital Advisors Ltd. grew its position in Iamgold by 731.8% in the third quarter. Waratah Capital Advisors Ltd. now owns 2,113,558 shares of the mining company’s stock valued at $27,328,000 after acquiring an additional 1,859,463 shares during the last quarter. CI Investments Inc. bought a new position in Iamgold in the third quarter valued at about $96,747,000. Finally, Rathbones Group PLC grew its position in Iamgold by 1,037,042.8% in the fourth quarter. Rathbones Group PLC now owns 418,901,982 shares of the mining company’s stock valued at $6,907,694,000 after acquiring an additional 418,861,592 shares during the last quarter. Institutional investors own 47.08% of the company’s stock.

Analyst Ratings Changes

IAG has been the topic of a number of recent analyst reports. Weiss Ratings cut Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday. Scotiabank lifted their target price on Iamgold to $25.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 25th. Wall Street Zen upgraded Iamgold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Zacks Research cut Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Finally, TD Securities reiterated a “buy” rating on shares of Iamgold in a research report on Thursday, February 19th. 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $17.75.

Iamgold Stock Performance

NYSE:IAG opened at $16.60 on Friday. The stock has a market cap of $9.60 billion, a P/E ratio of 9.65, a price-to-earnings-growth ratio of 0.80 and a beta of 1.25. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. The stock’s 50-day moving average is $17.67 and its 200-day moving average is $18.28. Iamgold Corporation has a 1-year low of $6.69 and a 1-year high of $24.87.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.14. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $955.17 million. Iamgold had a return on equity of 26.65% and a net margin of 29.49%. Equities research analysts anticipate that Iamgold Corporation will post 2.27 earnings per share for the current year.

Iamgold Company 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.