Edmond DE Rothschild Holding S.A. Takes $6.66 Million Position in Iamgold Corporation $IAG

Edmond DE Rothschild Holding S.A. acquired a new position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 420,331 shares of the mining company’s stock, valued at approximately $6,658,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Banque Transatlantique SA bought a new stake in Iamgold in the 2nd quarter valued at $26,000. Pin Oak Investment Advisors Inc. acquired a new position in Iamgold in the 4th quarter worth $30,000. Global Retirement Partners LLC bought a new position in Iamgold during the 4th quarter worth about $33,000. Western Wealth Management LLC bought a new position in Iamgold during the 1st quarter worth about $43,000. Finally, Banque Cantonale Vaudoise increased its holdings in Iamgold by 617.8% during the 4th quarter. Banque Cantonale Vaudoise now owns 2,986 shares of the mining company’s stock worth $49,000 after purchasing an additional 2,570 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have issued reports on IAG. Wall Street Zen downgraded Iamgold from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Scotiabank increased their price objective on Iamgold from $22.00 to $23.00 and gave the stock a “sector perform” rating in a report on Wednesday, August 12th. Bank of America decreased their price objective on Iamgold from $22.50 to $21.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Weiss Ratings lowered Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Finally, Royal Bank Of Canada cut their target price on Iamgold from $22.00 to $20.00 and set an “outperform” rating on the stock in a research note on Thursday, July 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.20.

Iamgold Stock Up 8.6%

Iamgold stock opened at $19.75 on Thursday. The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 0.10. Iamgold Corporation has a 1-year low of $8.04 and a 1-year high of $24.87. The company has a fifty day simple moving average of $16.09 and a 200 day simple moving average of $17.97. The company has a market cap of $11.35 billion, a P/E ratio of 9.98, a price-to-earnings-growth ratio of 0.97 and a beta of 1.32.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Thursday, August 6th. The mining company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. Iamgold had a net margin of 31.40% and a return on equity of 28.97%. The firm had revenue of $845.97 million for the quarter, compared to analysts’ expectations of $882.92 million. Research analysts anticipate that Iamgold Corporation will post 1.91 earnings per share for the current fiscal 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.