UBS Group AG trimmed its position in shares of Iamgold Corporation (NYSE:IAG – Free Report) (TSE:IMG) by 43.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 538,012 shares of the mining company’s stock after selling 419,485 shares during the period. UBS Group AG’s holdings in Iamgold were worth $8,872,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Iamgold by 4.7% during the 4th quarter. Vanguard Group Inc. now owns 23,836,156 shares of the mining company’s stock valued at $393,328,000 after buying an additional 1,068,465 shares in the last quarter. U S Global Investors Inc. raised its holdings in shares of Iamgold by 15.0% during the 4th quarter. U S Global Investors Inc. now owns 575,000 shares of the mining company’s stock valued at $9,482,000 after buying an additional 75,000 shares in the last quarter. TD Waterhouse Canada Inc. raised its holdings in shares of Iamgold by 54.2% during the 4th quarter. TD Waterhouse Canada Inc. now owns 19,072 shares of the mining company’s stock valued at $313,000 after buying an additional 6,701 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Iamgold by 8.8% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 169,329 shares of the mining company’s stock valued at $2,798,000 after buying an additional 13,639 shares in the last quarter. Finally, Ninety One UK Ltd raised its holdings in shares of Iamgold by 22.3% during the 4th quarter. Ninety One UK Ltd now owns 5,144,604 shares of the mining company’s stock valued at $84,835,000 after buying an additional 938,855 shares in the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
A number of equities analysts have commented on IAG shares. Scotiabank lifted their price target on Iamgold to $25.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 25th. Wall Street Zen raised Iamgold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Zacks Research cut Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Iamgold in a research note on Tuesday, April 21st. Finally, TD Securities reaffirmed a “buy” rating on shares of Iamgold in a research note on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $17.75.
Insider Buying and Selling at Iamgold
In other news, Director David Stewart Smith sold 31,000 shares of Iamgold stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $32.87, for a total value of $1,018,970.00. Following the sale, the director directly owned 20,000 shares in the company, valued at approximately $657,400. This trade represents a 60.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.
Iamgold Price Performance
Shares of Iamgold stock opened at $16.97 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.89 and a quick ratio of 1.21. The business’s 50 day simple moving average is $18.69 and its two-hundred day simple moving average is $17.77. The stock has a market capitalization of $9.81 billion, a P/E ratio of 9.87, a price-to-earnings-growth ratio of 0.83 and a beta of 1.26. Iamgold Corporation has a one year low of $6.06 and a one year high of $24.87.
Iamgold (NYSE:IAG – Get Free Report) (TSE:IMG) last announced its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $955.17 million. Iamgold had a return on equity of 26.65% and a net margin of 29.49%. Analysts forecast that Iamgold Corporation will post 2.24 EPS for the current year.
Iamgold Profile
IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.
The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.
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