Integrity Alliance LLC. Makes New $97,000 Investment in Iamgold Corporation $IAG

Integrity Alliance LLC. purchased a new position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 15,500 shares of the mining company’s stock, valued at approximately $97,000.

Other hedge funds also recently modified their holdings of the company. Summit Securities Group LLC acquired a new stake in shares of Iamgold during the first quarter worth about $35,000. Alpha Omega Wealth Management LLC acquired a new position in shares of Iamgold during the 1st quarter worth approximately $75,000. Avantax Advisory Services Inc. acquired a new position in shares of Iamgold during the 1st quarter worth approximately $86,000. Vident Advisory LLC acquired a new position in shares of Iamgold during the 1st quarter worth approximately $92,000. Finally, Ritholtz Wealth Management bought a new position in shares of Iamgold during the 1st quarter worth approximately $94,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Iamgold Price Performance

Shares of IAG stock opened at $11.18 on Monday. The company has a quick ratio of 0.76, a current ratio of 1.47 and a debt-to-equity ratio of 0.31. Iamgold Corporation has a twelve month low of $4.44 and a twelve month high of $11.36. The company has a market cap of $6.43 billion, a P/E ratio of 8.04, a P/E/G ratio of 0.36 and a beta of 1.21. The business has a fifty day simple moving average of $8.13 and a 200 day simple moving average of $7.23.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Thursday, August 7th. The mining company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). Iamgold had a return on equity of 8.54% and a net margin of 40.61%.The business had revenue of $587.21 million for the quarter, compared to the consensus estimate of $663.21 million. On average, sell-side analysts forecast that Iamgold Corporation will post 0.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

IAG has been the subject of several recent research reports. Raymond James Financial upgraded Iamgold to a “hold” rating and set a $8.00 price target for the company in a research note on Monday, June 30th. Royal Bank Of Canada upgraded Iamgold from a “sector perform” rating to an “outperform” rating and boosted their price target for the company from $9.00 to $14.00 in a research note on Wednesday, September 10th. CIBC restated an “outperform” rating on shares of Iamgold in a research note on Tuesday, July 15th. National Bankshares restated an “outperform” rating on shares of Iamgold in a research note on Tuesday, June 24th. Finally, Zacks Research downgraded Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Iamgold has a consensus rating of “Moderate Buy” and an average target price of $10.13.

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.