Helikon Investments Ltd Boosts Position in IAMGOLD Co. (NYSE:IAG)

Helikon Investments Ltd raised its holdings in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 250.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 32,861,554 shares of the mining company’s stock after acquiring an additional 23,485,183 shares during the period. IAMGOLD makes up 9.4% of Helikon Investments Ltd’s holdings, making the stock its 5th largest position. Helikon Investments Ltd owned 6.62% of IAMGOLD worth $109,429,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in IAG. Van ECK Associates Corp raised its position in IAMGOLD by 2.9% during the 4th quarter. Van ECK Associates Corp now owns 48,117,785 shares of the mining company’s stock worth $121,736,000 after purchasing an additional 1,368,491 shares during the last quarter. Donald Smith & CO. Inc. increased its holdings in shares of IAMGOLD by 13.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 35,778,309 shares of the mining company’s stock worth $90,519,000 after purchasing an additional 4,358,444 shares during the period. Vanguard Group Inc. increased 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 worth $37,356,000 after purchasing an additional 363,051 shares during the last quarter. P Schoenfeld Asset Management LP boosted its stake in IAMGOLD by 11.1% in the fourth quarter. P Schoenfeld Asset Management LP now owns 8,234,284 shares of the mining company’s stock worth $20,833,000 after buying an additional 822,149 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of IAMGOLD during the fourth quarter valued at approximately $10,972,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

IAMGOLD Stock Performance

IAMGOLD stock traded up $0.01 during mid-day trading on Tuesday, reaching $3.68. The company’s stock had a trading volume of 5,572,003 shares, compared to its average volume of 8,954,896. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of 13.13 and a beta of 1.56. IAMGOLD Co. has a twelve month low of $1.99 and a twelve month high of $4.59. 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 has a 50 day moving average price of $3.87 and a 200-day moving average price of $3.20.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its earnings results on Thursday, May 9th. The mining company reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.09. The firm had revenue of $338.90 million during the quarter. IAMGOLD had a return on equity of 3.17% and a net margin of 12.48%. During the same quarter last year, the company earned $0.05 earnings per share. Sell-side analysts predict that IAMGOLD Co. will post 0.28 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on the company. CIBC lowered their price objective on IAMGOLD from $5.00 to $4.80 and set a “neutral” rating for the company in a research report on Friday, June 7th. BMO Capital Markets restated an “outperform” rating and set a $5.00 price objective on shares of IAMGOLD in a research report on Thursday, June 6th. National Bank Financial reissued a “sector perform spec overwgt” rating on shares of IAMGOLD in a research note on Monday, April 8th. StockNews.com cut shares of IAMGOLD from a “hold” rating to a “sell” rating in a research report on Monday. Finally, Scotiabank lifted their target price on shares of IAMGOLD from $4.25 to $4.50 and gave the stock a “sector perform” rating in a research note on Thursday, June 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, IAMGOLD currently has an average rating of “Hold” and a consensus price target of $4.01.

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.