Centiva Capital LP Invests $1.06 Million in Iamgold Corporation $IAG

Centiva Capital LP bought a new position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the 3rd quarter, Holdings Channel.com reports. The firm bought 82,079 shares of the mining company’s stock, valued at approximately $1,061,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Personalized Indexing Management LLC lifted its stake in Iamgold by 4.3% during the third quarter. Vanguard Personalized Indexing Management LLC now owns 38,499 shares of the mining company’s stock worth $498,000 after purchasing an additional 1,598 shares during the last quarter. Tsfg LLC bought a new position in shares of Iamgold during the 3rd quarter valued at about $26,000. Creative Planning raised its holdings in shares of Iamgold by 18.1% during the 3rd quarter. Creative Planning now owns 15,987 shares of the mining company’s stock valued at $207,000 after buying an additional 2,451 shares in the last quarter. Measured Wealth Private Client Group LLC raised its holdings in shares of Iamgold by 4.0% during the 2nd quarter. Measured Wealth Private Client Group LLC now owns 89,293 shares of the mining company’s stock valued at $656,000 after buying an additional 3,396 shares in the last quarter. Finally, Banque Transatlantique SA bought a new stake in Iamgold in the 2nd quarter worth approximately $26,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Insider Buying and Selling at Iamgold

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

Iamgold Trading Down 7.2%

NYSE IAG opened at $19.83 on Friday. The firm has a market cap of $11.70 billion, a PE ratio of 17.24, a price-to-earnings-growth ratio of 1.57 and a beta of 1.33. Iamgold Corporation has a 1-year low of $5.35 and a 1-year high of $24.87. The stock has a 50-day moving average of $20.39 and a 200-day moving average of $15.78. The company has a current ratio of 1.75, a quick ratio of 1.02 and a debt-to-equity ratio of 0.15.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results 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 business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Iamgold had a return on equity of 19.26% and a net margin of 23.29%. As a group, sell-side analysts forecast that Iamgold Corporation will post 0.67 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Iamgold in a research note on Wednesday, February 4th. TD Securities reissued a “buy” rating on shares of Iamgold in a research note on Thursday, February 19th. Scotiabank boosted their price objective on shares of Iamgold to $25.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 25th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Iamgold in a research note on Thursday, January 22nd. Finally, Zacks Research raised shares of Iamgold from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $17.75.

About Iamgold

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.