Linscomb Wealth Inc. Invests $67,000 in IAMGOLD Co. (NYSE:IAG)

Linscomb Wealth Inc. purchased a new position in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 20,000 shares of the mining company’s stock, valued at approximately $67,000.

A number of other hedge funds have also made changes to their positions in IAG. Vanguard Group Inc. increased its holdings in shares of IAMGOLD by 2.1% during the 3rd quarter. Vanguard Group Inc. now owns 17,375,017 shares of the mining company’s stock valued at $37,356,000 after acquiring an additional 363,051 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of IAMGOLD in the 4th quarter worth approximately $26,000. Koshinski Asset Management Inc. bought a new stake in shares of IAMGOLD in the 4th quarter worth approximately $34,000. Euro Pacific Asset Management LLC lifted its position in shares of IAMGOLD by 48.1% in the 4th quarter. Euro Pacific Asset Management LLC now owns 2,727,065 shares of the mining company’s stock worth $6,898,000 after acquiring an additional 885,697 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of IAMGOLD in the 4th quarter worth approximately $10,972,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

IAMGOLD Price Performance

Shares of NYSE IAG remained flat at $3.92 during midday trading on Friday. The stock had a trading volume of 6,791,113 shares, compared to its average volume of 8,854,223. The stock has a fifty day simple moving average of $3.91 and a 200-day simple moving average of $3.39. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 14.00 and a beta of 1.56. IAMGOLD Co. has a one year low of $1.99 and a one year high of $4.59. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.55 and a current ratio of 0.91.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Thursday, May 9th. The mining company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.09. IAMGOLD had a return on equity of 3.17% and a net margin of 12.48%. The business had revenue of $338.90 million during the quarter. During the same period last year, the firm earned $0.05 earnings per share. Equities analysts expect that IAMGOLD Co. will post 0.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on IAG. StockNews.com upgraded IAMGOLD from a “sell” rating to a “hold” rating in a research report on Tuesday, July 9th. National Bank Financial restated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. CIBC lifted their price objective on IAMGOLD from $4.80 to $4.90 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. BMO Capital Markets reiterated an “outperform” rating and issued a $5.00 price objective on shares of IAMGOLD in a research report on Thursday, June 6th. Finally, Scotiabank lifted their price objective on IAMGOLD from $4.25 to $4.50 and gave the company a “sector perform” rating in a research report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $4.02.

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.