Iamgold Corporation $IAG Shares Purchased by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 28.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 587,920 shares of the mining company’s stock after buying an additional 130,400 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.10% of Iamgold worth $7,602,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Tsfg LLC purchased a new stake in Iamgold in the 3rd quarter valued at $26,000. Banque Transatlantique SA purchased a new position in shares of Iamgold during the second quarter worth $26,000. Tableaux LLC acquired a new stake in shares of Iamgold in the second quarter valued at $61,000. Olympiad Research LP purchased a new stake in Iamgold during the second quarter worth about $87,000. Finally, Kingsview Wealth Management LLC acquired a new stake in Iamgold during the 2nd quarter worth approximately $90,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on IAG. Weiss Ratings reissued a “buy (b)” rating on shares of Iamgold in a report on Thursday, January 22nd. Wall Street Zen raised Iamgold from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. TD Securities reissued a “buy” rating on shares of Iamgold in a report on Thursday, February 19th. Zacks Research upgraded shares of Iamgold from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Finally, Scotiabank boosted their target price on shares of Iamgold to $25.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 25th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $17.75.

Iamgold Stock Down 7.6%

Shares of Iamgold stock opened at $22.41 on Wednesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.75 and a quick ratio of 1.02. Iamgold Corporation has a 1-year low of $5.02 and a 1-year high of $24.87. The business has a 50-day moving average of $19.62 and a 200-day moving average of $15.09. The company has a market capitalization of $13.21 billion, a PE ratio of 19.49, a P/E/G ratio of 1.92 and a beta of 1.33.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Tuesday, February 17th. The mining company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.15. The firm had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Iamgold had a return on equity of 19.26% and a net margin of 23.29%. As a group, equities analysts forecast that Iamgold Corporation will post 0.67 EPS for the current fiscal year.

Insider Activity at Iamgold

In other news, Director David Stewart Smith sold 31,000 shares of the company’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $32.87, for a total value of $1,018,970.00. Following the completion of the sale, the director directly owned 20,000 shares of the company’s stock, valued at approximately $657,400. This represents a 60.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

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.