RCF Management L.L.C. Invests $128.17 Million in IAMGOLD Co. (NYSE:IAG)

RCF Management L.L.C. bought a new stake in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 24,840,000 shares of the mining company’s stock, valued at approximately $128,174,000. IAMGOLD makes up approximately 100.0% of RCF Management L.L.C.’s holdings, making the stock its biggest position.

Several other hedge funds also recently bought and sold shares of IAG. Tobam bought a new stake in IAMGOLD during the 4th quarter valued at approximately $25,000. Blue Trust Inc. lifted its holdings in shares of IAMGOLD by 157.1% in the fourth quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock worth $47,000 after buying an additional 5,511 shares in the last quarter. Raab & Moskowitz Asset Management LLC bought a new position in shares of IAMGOLD during the fourth quarter worth $56,000. Atria Wealth Solutions Inc. purchased a new position in IAMGOLD during the fourth quarter valued at $68,000. Finally, Choreo LLC bought a new stake in IAMGOLD in the 4th quarter valued at $88,000. Institutional investors own 47.08% of the company’s stock.

IAMGOLD Trading Down 0.7 %

Shares of IAG opened at $6.25 on Tuesday. The company’s fifty day simple moving average is $6.01 and its 200-day simple moving average is $5.60. The company has a market cap of $3.58 billion, a P/E 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. IAMGOLD Co. has a twelve month low of $3.44 and a twelve month high of $6.69.

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

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Cibc World Mkts upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. National Bank Financial raised IAMGOLD to a “strong-buy” rating in a research note on Friday, March 21st. CIBC reaffirmed an “outperform” rating on shares of IAMGOLD in a report on Thursday, March 20th. StockNews.com cut shares of IAMGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Finally, Raymond James upgraded shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $6.90.

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.