Vanguard Group Inc. Raises Stake in Iamgold Corporation $IAG

Vanguard Group Inc. raised its stake in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 3.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,767,691 shares of the mining company’s stock after acquiring an additional 778,680 shares during the quarter. Vanguard Group Inc. owned approximately 3.96% of Iamgold worth $294,151,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Royal Bank of Canada grew its stake in Iamgold by 14.0% in the 1st quarter. Royal Bank of Canada now owns 691,322 shares of the mining company’s stock valued at $4,321,000 after buying an additional 84,939 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Iamgold by 6.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,420,263 shares of the mining company’s stock worth $15,127,000 after purchasing an additional 144,160 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Iamgold by 67.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,005,292 shares of the mining company’s stock valued at $6,283,000 after buying an additional 404,645 shares in the last quarter. Y Intercept Hong Kong Ltd increased its position in shares of Iamgold by 15.2% during the second quarter. Y Intercept Hong Kong Ltd now owns 245,547 shares of the mining company’s stock valued at $1,805,000 after buying an additional 32,413 shares during the period. Finally, Savant Capital LLC purchased a new stake in shares of Iamgold in the second quarter worth about $100,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on IAG shares. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Iamgold in a research note on Wednesday, February 4th. Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a research report on Thursday, January 22nd. Wall Street Zen upgraded Iamgold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Zacks Research cut shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Finally, TD Securities reissued a “buy” rating on shares of Iamgold in a research note on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $17.75.

Iamgold Price Performance

Shares of Iamgold stock opened at $24.61 on Friday. The stock has a market capitalization of $14.51 billion, a price-to-earnings ratio of 21.40, a price-to-earnings-growth ratio of 0.28 and a beta of 1.36. The company has a fifty day moving average of $19.39 and a 200-day moving average of $14.78. Iamgold Corporation has a 52-week low of $5.02 and a 52-week high of $24.66. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.75.

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, beating the consensus estimate of $0.55 by $0.15. The business had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. Iamgold had a net margin of 23.29% and a return on equity of 19.26%. Equities research analysts expect that Iamgold Corporation will post 0.67 EPS for the current year.

Insider Activity at Iamgold

In related news, Director David Stewart Smith sold 31,000 shares of Iamgold stock in a transaction 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 transaction, the director directly owned 20,000 shares of the company’s stock, valued at $657,400. The trade was a 60.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.17% of the stock is currently owned by insiders.

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.