RCF Management L.L.C. Takes Position in IAMGOLD Co. (NYSE:IAG)

RCF Management L.L.C. purchased a new position in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 24,840,000 shares of the mining company’s stock, valued at approximately $128,174,000. IAMGOLD makes up about 100.0% of RCF Management L.L.C.’s investment portfolio, making the stock its biggest holding. RCF Management L.L.C. owned about 4.35% of IAMGOLD as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in IAG. Vanguard Group Inc. grew its stake in shares of IAMGOLD by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 21,232,871 shares of the mining company’s stock worth $109,741,000 after acquiring an additional 321,458 shares during the last quarter. American Century Companies Inc. grew its position in IAMGOLD by 25.9% during the 4th quarter. American Century Companies Inc. now owns 10,162,314 shares of the mining company’s stock valued at $52,499,000 after purchasing an additional 2,092,803 shares during the last quarter. Two Sigma Advisers LP increased its stake in IAMGOLD by 58.8% during the 3rd quarter. Two Sigma Advisers LP now owns 10,083,115 shares of the mining company’s stock valued at $52,735,000 after purchasing an additional 3,732,315 shares in the last quarter. FMR LLC increased its stake in IAMGOLD by 107.9% during the 3rd quarter. FMR LLC now owns 8,819,600 shares of the mining company’s stock valued at $46,174,000 after purchasing an additional 4,577,599 shares in the last quarter. Finally, Cibc World Market Inc. lifted its stake in shares of IAMGOLD by 54.0% in the fourth quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company’s stock worth $26,452,000 after buying an additional 1,795,869 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

IAMGOLD Stock Performance

Shares of NYSE IAG opened at $6.25 on Tuesday. IAMGOLD Co. has a 12-month low of $3.44 and a 12-month high of $6.69. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of 4.31 and a beta of 1.63. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The firm has a 50 day moving average of $6.01 and a 200 day moving average of $5.60.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Thursday, February 20th. The mining company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. The business had revenue of $469.90 million for the quarter, compared to the consensus estimate of $498.68 million. On average, research analysts anticipate that IAMGOLD Co. will post 0.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on IAG. National Bank Financial raised shares of IAMGOLD to a “strong-buy” rating in a research report on Friday, March 21st. Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. StockNews.com downgraded IAMGOLD from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Raymond James upgraded shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, February 3rd. Finally, CIBC reiterated an “outperform” rating on shares of IAMGOLD in a research note on Thursday, March 20th. Four analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $6.90.

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.