Thomist Capital Management LP Invests $2.82 Million in Iamgold Corporation $IAG

Thomist Capital Management LP acquired a new stake in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG during the second quarter, according to its most recent filing with the SEC. The fund acquired 398,400 shares of the mining company's stock, valued at approximately $2,821,000. Iamgold accounts for approximately 0.9% of Thomist Capital Management LP's investment portfolio, making the stock its 20th biggest holding. Thomist Capital Management LP owned 0.07% of Iamgold as of its most recent SEC filing.

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A number of other institutional investors have also added to or reduced their stakes in the stock. Mackenzie Financial Corp increased its holdings in Iamgold by 183.5% during the 2nd quarter. Mackenzie Financial Corp now owns 7,614,294 shares of the mining company's stock worth $56,118,000 after acquiring an additional 4,928,077 shares during the period. U S Global Investors Inc. grew its position in shares of Iamgold by 150.0% during the 2nd quarter. U S Global Investors Inc. now owns 500,000 shares of the mining company's stock valued at $3,675,000 after purchasing an additional 300,000 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Iamgold during the 2nd quarter valued at $550,000. Mudita Advisors LLP increased its holdings in shares of Iamgold by 41.1% in the first quarter. Mudita Advisors LLP now owns 2,081,400 shares of the mining company's stock worth $13,002,000 after purchasing an additional 606,795 shares during the period. Finally, Waratah Capital Advisors Ltd. purchased a new stake in shares of Iamgold in the second quarter worth $1,868,000. Hedge funds and other institutional investors own 47.08% of the company's stock.

Iamgold Price Performance

Shares of Iamgold stock opened at $14.98 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.76 and a current ratio of 1.47. Iamgold Corporation has a 52-week low of $4.98 and a 52-week high of $15.80. The company has a fifty day moving average of $13.11 and a 200-day moving average of $9.82. The stock has a market capitalization of $8.62 billion, a price-to-earnings ratio of 10.78, a price-to-earnings-growth ratio of 0.39 and a beta of 1.38.

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Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last issued its earnings results on Tuesday, November 4th. The mining company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.21 by $0.09. Iamgold had a net margin of 40.61% and a return on equity of 8.54%. The company had revenue of $714.61 million for the quarter, compared to analysts' expectations of $759.45 million. Equities research analysts expect that Iamgold Corporation will post 0.67 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on IAG. Wall Street Zen raised Iamgold from a "hold" rating to a "buy" rating in a report on Saturday, November 8th. Stifel Canada raised shares of Iamgold from a "hold" rating to a "strong-buy" rating in a research note on Monday, October 20th. Weiss Ratings restated a "buy (b)" rating on shares of Iamgold in a research report on Wednesday, October 8th. CIBC upped their target price on shares of Iamgold from $10.40 to $19.00 and gave the stock an "outperformer" rating in a research report on Friday, October 10th. Finally, Scotiabank increased their target price on Iamgold from $8.50 to $15.00 and gave the company a "sector perform" rating in a research note on Thursday, October 23rd. Two investment analysts have 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 data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $15.25.

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View Our Latest Stock Report on IAG

Iamgold Profile

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.

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