Iamgold Corporation $IAG Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC cut its holdings in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 9.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,221,611 shares of the mining company’s stock after selling 123,224 shares during the period. William Blair Investment Management LLC’s holdings in Iamgold were worth $20,144,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IAG. Tsfg LLC acquired a new stake in Iamgold in the third quarter valued at $26,000. Banque Transatlantique SA acquired a new stake in shares of Iamgold during the second quarter worth about $26,000. Global Retirement Partners LLC acquired a new stake in shares of Iamgold during the fourth quarter worth about $33,000. FNY Investment Advisers LLC acquired a new stake in shares of Iamgold during the fourth quarter worth about $38,000. Finally, LOM Asset Management Ltd acquired a new stake in shares of Iamgold during the fourth quarter worth about $49,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on IAG. TD Securities reiterated a “buy” rating on shares of Iamgold in a research report on Thursday, February 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Iamgold in a research report on Tuesday, April 21st. Scotiabank lifted their target price on Iamgold to $25.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 25th. Wall Street Zen upgraded Iamgold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Finally, Zacks Research cut Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. One investment analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $17.75.

Insider Transactions at Iamgold

In related news, Director David Stewart Smith sold 31,000 shares of the business’s stock in a transaction dated 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 transaction, the director owned 20,000 shares in the company, valued at $657,400. The trade was a 60.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.17% of the stock is owned by company insiders.

Iamgold Stock Performance

Shares of IAG stock opened at $16.52 on Tuesday. The stock has a market capitalization of $9.55 billion, a PE ratio of 9.60, a price-to-earnings-growth ratio of 0.81 and a beta of 1.26. Iamgold Corporation has a 52-week low of $6.57 and a 52-week high of $24.87. The stock’s 50-day moving average price is $18.07 and its 200 day moving average price is $17.98. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.12.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.14. The firm 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%. As a group, equities research 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.