Measured Wealth Private Client Group LLC Takes $231,000 Position in IAMGOLD Co. (NYSE:IAG)

Measured Wealth Private Client Group LLC purchased a new position in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 44,254 shares of the mining company’s stock, valued at approximately $231,000.

A number of other hedge funds have also recently added to or reduced their stakes in IAG. Donald Smith & CO. Inc. grew its holdings in IAMGOLD by 0.8% in the first quarter. Donald Smith & CO. Inc. now owns 36,077,268 shares of the mining company’s stock valued at $120,137,000 after purchasing an additional 298,959 shares during the last quarter. Vanguard Group Inc. grew its stake in IAMGOLD by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company’s stock valued at $58,871,000 after acquiring an additional 168,302 shares during the last quarter. Millennium Management LLC increased its holdings in IAMGOLD by 194.2% during the 2nd quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company’s stock valued at $29,573,000 after acquiring an additional 5,204,715 shares in the last quarter. American Century Companies Inc. increased its holdings in IAMGOLD by 28.6% during the 2nd quarter. American Century Companies Inc. now owns 5,708,298 shares of the mining company’s stock valued at $21,423,000 after acquiring an additional 1,270,608 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in IAMGOLD by 18.8% during the second quarter. Dimensional Fund Advisors LP now owns 5,663,676 shares of the mining company’s stock worth $21,239,000 after acquiring an additional 898,077 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

IAMGOLD Stock Down 2.5 %

IAG opened at $5.55 on Friday. IAMGOLD Co. has a 12 month low of $2.11 and a 12 month high of $6.37. The business has a 50-day moving average of $5.24 and a two-hundred day moving average of $4.43. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.34 and a quick ratio of 0.90. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 22.18 and a beta of 1.59.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. The firm had revenue of $385.30 million during the quarter. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. On average, research analysts expect that IAMGOLD Co. will post 0.51 earnings per share for the current year.

Wall Street Analyst Weigh In

IAG has been the subject of a number of recent research reports. StockNews.com raised shares of IAMGOLD from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th. CIBC raised their price target on IAMGOLD from $5.40 to $6.40 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $6.00 price objective on shares of IAMGOLD in a research report on Tuesday, October 22nd. Finally, Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating and raised their price target for the stock from $7.75 to $10.50 in a research note on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.68.

About IAMGOLD

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.