Semanteon Capital Management LP Invests $503,000 in IAMGOLD Co. (NYSE:IAG)

Semanteon Capital Management LP purchased a new position in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 96,092 shares of the mining company’s stock, valued at approximately $503,000.

A number of other hedge funds have also recently added to or reduced their stakes in IAG. Donald Smith & CO. Inc. lifted its holdings in shares of IAMGOLD by 0.8% in the 1st quarter. Donald Smith & CO. Inc. now owns 36,077,268 shares of the mining company’s stock valued at $120,137,000 after buying an additional 298,959 shares during the period. Vanguard Group Inc. lifted its holdings in IAMGOLD by 1.0% in the first quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company’s stock valued at $58,871,000 after acquiring an additional 168,302 shares during the period. Millennium Management LLC boosted its position in shares of IAMGOLD by 194.2% during the 2nd quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company’s stock worth $29,573,000 after purchasing an additional 5,204,715 shares in the last quarter. American Century Companies Inc. boosted its position in shares of IAMGOLD by 28.6% during the 2nd quarter. American Century Companies Inc. now owns 5,708,298 shares of the mining company’s stock worth $21,423,000 after purchasing an additional 1,270,608 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of IAMGOLD by 18.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 5,663,676 shares of the mining company’s stock worth $21,239,000 after purchasing an additional 898,077 shares during the period. Institutional investors and hedge funds own 47.08% of the company’s stock.

IAMGOLD Stock Performance

NYSE IAG opened at $5.65 on Tuesday. The company has a quick ratio of 0.90, a current ratio of 1.34 and a debt-to-equity ratio of 0.30. IAMGOLD Co. has a fifty-two week low of $2.11 and a fifty-two week high of $6.37. The business has a fifty day moving average of $5.20 and a 200-day moving average of $4.38. The stock has a market cap of $3.22 billion, a price-to-earnings ratio of 20.18 and a beta of 1.59.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.08. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. The firm had revenue of $385.30 million during the quarter. During the same period in the previous year, the firm posted ($0.01) EPS. As a group, analysts predict that IAMGOLD Co. will post 0.51 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently commented on IAG. Scotiabank boosted their price objective on shares of IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a report on Monday, August 19th. StockNews.com raised IAMGOLD from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $6.00 target price on shares of IAMGOLD in a research report on Tuesday, October 22nd. Finally, National Bank Financial raised IAMGOLD from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, IAMGOLD presently has an average rating of “Hold” and a consensus target price of $6.07.

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.