U S Global Investors Inc. Has $18.29 Million Stock Holdings in Iamgold Corporation $IAG

U S Global Investors Inc. grew its holdings in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 69.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 971,581 shares of the mining company’s stock after purchasing an additional 396,581 shares during the period. Iamgold makes up about 2.1% of U S Global Investors Inc.’s portfolio, making the stock its 13th biggest position. U S Global Investors Inc. owned about 0.17% of Iamgold worth $18,285,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of IAG. Cvfg LLC acquired a new stake in Iamgold in the first quarter valued at about $1,236,000. Y Intercept Hong Kong Ltd bought a new position in Iamgold in the first quarter valued at about $8,020,000. Leonteq Securities AG raised its stake in Iamgold by 1,002.9% during the first quarter. Leonteq Securities AG now owns 14,338 shares of the mining company’s stock worth $270,000 after acquiring an additional 13,038 shares in the last quarter. Louisbourg Investments Inc. raised its stake in Iamgold by 3.2% during the first quarter. Louisbourg Investments Inc. now owns 318,300 shares of the mining company’s stock worth $5,974,000 after acquiring an additional 9,900 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in shares of Iamgold by 14.1% in the first quarter. Pictet Asset Management Holding SA now owns 121,914 shares of the mining company’s stock worth $2,285,000 after acquiring an additional 15,032 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on IAG shares. Royal Bank Of Canada reduced their price target on shares of Iamgold from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday. Weiss Ratings cut shares of Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Bank of America dropped their price objective on shares of Iamgold from $22.50 to $21.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Zacks Research lowered shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $19.60.

Iamgold Price Performance

IAG stock traded down $0.14 during midday trading on Friday, reaching $15.33. 2,460,918 shares of the stock were exchanged, compared to its average volume of 5,079,893. The stock has a market capitalization of $8.87 billion, a PE ratio of 8.91, a P/E/G ratio of 0.64 and a beta of 1.30. Iamgold Corporation has a 52 week low of $6.69 and a 52 week high of $24.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.89 and a quick ratio of 1.21. The company has a fifty day moving average price of $16.77 and a 200 day moving average price of $18.40.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its earnings results on Tuesday, May 5th. The mining company reported $0.66 EPS 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 firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $955.17 million. As a group, analysts expect that Iamgold Corporation will post 2.12 EPS for the current fiscal year.

Iamgold 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.