Helikon Investments Ltd Buys 23,485,183 Shares of IAMGOLD Co. (NYSE:IAG)

Helikon Investments Ltd increased its position in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 250.5% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 32,861,554 shares of the mining company’s stock after buying an additional 23,485,183 shares during the quarter. IAMGOLD makes up 9.4% of Helikon Investments Ltd’s portfolio, making the stock its 5th largest holding. Helikon Investments Ltd owned 0.07% of IAMGOLD worth $109,429,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IAG. Qube Research & Technologies Ltd increased its position in shares of IAMGOLD by 54.5% in the third quarter. Qube Research & Technologies Ltd now owns 976,698 shares of the mining company’s stock valued at $2,100,000 after buying an additional 344,691 shares in the last quarter. Sprott Inc. raised its position in IAMGOLD by 888.7% during the third quarter. Sprott Inc. now owns 1,279,400 shares of the mining company’s stock worth $2,751,000 after acquiring an additional 1,150,000 shares during the period. Public Sector Pension Investment Board lifted its holdings in IAMGOLD by 0.9% during the third quarter. Public Sector Pension Investment Board now owns 987,468 shares of the mining company’s stock valued at $2,140,000 after purchasing an additional 8,485 shares in the last quarter. Vanguard Group Inc. grew its position in shares of IAMGOLD by 2.1% in the third quarter. Vanguard Group Inc. now owns 17,375,017 shares of the mining company’s stock valued at $37,356,000 after purchasing an additional 363,051 shares during the period. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of IAMGOLD during the fourth quarter worth about $26,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Analyst Ratings Changes

IAG has been the topic of a number of research reports. BMO Capital Markets reaffirmed an “outperform” rating and issued a $5.00 price target on shares of IAMGOLD in a research note on Thursday, June 6th. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of IAMGOLD in a research note on Monday, April 8th. StockNews.com downgraded IAMGOLD from a “hold” rating to a “sell” rating in a research note on Monday. Scotiabank raised their price objective on IAMGOLD from $4.25 to $4.50 and gave the company a “sector perform” rating in a report on Thursday, June 6th. Finally, CIBC dropped their target price on shares of IAMGOLD from $5.00 to $4.80 and set a “neutral” rating for the company in a report on Friday, June 7th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, IAMGOLD has an average rating of “Hold” and an average target price of $4.01.

IAMGOLD Trading Up 0.4 %

NYSE IAG traded up $0.01 on Tuesday, reaching $3.68. 5,572,003 shares of the company were exchanged, compared to its average volume of 8,954,896. The company has a current ratio of 0.91, a quick ratio of 0.55 and a debt-to-equity ratio of 0.35. The business’s fifty day moving average price is $3.87 and its 200 day moving average price is $3.20. The stock has a market capitalization of $2.09 billion, a P/E ratio of 13.13 and a beta of 1.56. IAMGOLD Co. has a fifty-two week low of $1.99 and a fifty-two week high of $4.59.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Thursday, May 9th. The mining company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.09. IAMGOLD had a net margin of 12.48% and a return on equity of 3.17%. The firm had revenue of $338.90 million for the quarter. During the same period in the previous year, the firm posted $0.05 EPS. Analysts forecast that IAMGOLD Co. will post 0.28 earnings per share for the current year.

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.