PKO Investment Management Joint Stock Co Has $4.46 Million Holdings in Iamgold Corporation $IAG

PKO Investment Management Joint Stock Co raised its holdings in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 42.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 270,000 shares of the mining company’s stock after purchasing an additional 80,000 shares during the quarter. PKO Investment Management Joint Stock Co’s holdings in Iamgold were worth $4,464,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in IAG. Tsfg LLC acquired a new position in shares of Iamgold during the 3rd quarter worth approximately $26,000. FNY Investment Advisers LLC acquired a new stake in Iamgold during the 4th quarter valued at $38,000. LOM Asset Management Ltd acquired a new stake in Iamgold during the 4th quarter valued at $49,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Iamgold during the fourth quarter worth $57,000. Finally, Aventura Private Wealth LLC bought a new position in Iamgold during the fourth quarter worth $58,000. 47.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Iamgold Trading Down 1.7%

Shares of IAG stock opened at $16.58 on Friday. The stock has a market cap of $9.62 billion, a P/E ratio of 14.42, a price-to-earnings-growth ratio of 1.11 and a beta of 1.26. Iamgold Corporation has a 1 year low of $6.06 and a 1 year high of $24.87. The company has a current ratio of 1.75, a quick ratio of 1.02 and a debt-to-equity ratio of 0.15. The stock has a 50 day simple moving average of $19.58 and a 200 day simple moving average of $17.40.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Tuesday, February 17th. The mining company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.15. The firm 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%. On average, research analysts predict that Iamgold Corporation will post 2.18 earnings per share for the current fiscal year.

Insider Activity

In related news, Director David Stewart Smith sold 31,000 shares of the firm’s stock in a transaction 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 transaction, the director owned 20,000 shares in the company, valued at approximately $657,400. This trade represents a 60.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

Iamgold Company 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.