Williamson Legacy Group LLC Invests $1.55 Million in Iamgold Corporation $IAG

Williamson Legacy Group LLC acquired a new position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 94,233 shares of the mining company’s stock, valued at approximately $1,554,000.

Other institutional investors have also made changes to their positions in the company. Tsfg LLC bought a new position in shares of Iamgold in the third quarter worth about $26,000. Banque Transatlantique SA bought a new position in shares of Iamgold in the second quarter worth about $26,000. Global Retirement Partners LLC bought a new position in shares of Iamgold in the fourth quarter worth about $33,000. FNY Investment Advisers LLC bought a new position in shares of Iamgold in the fourth quarter worth about $38,000. Finally, LOM Asset Management Ltd bought a new position in shares of Iamgold in the fourth quarter worth about $49,000. 47.08% of the stock is currently owned by institutional investors.

Iamgold Stock Up 4.5%

IAG stock opened at $17.26 on Wednesday. Iamgold Corporation has a twelve month low of $6.57 and a twelve month high of $24.87. The company has a market cap of $9.98 billion, a PE ratio of 10.03, a price-to-earnings-growth ratio of 0.81 and a beta of 1.26. The business’s 50-day simple moving average is $18.02 and its 200 day simple moving average is $18.02. 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 released its earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. Iamgold had a return on equity of 26.65% and a net margin of 29.49%.The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $955.17 million. On average, research analysts anticipate that Iamgold Corporation will post 2.24 earnings per share for the current year.

Analyst Upgrades and Downgrades

IAG has been the topic of a number of recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of Iamgold in a research report on Tuesday, April 21st. Wall Street Zen raised Iamgold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Iamgold in a research report on Wednesday, February 4th. TD Securities reissued a “buy” rating on shares of Iamgold in a research report on Thursday, February 19th. Finally, Zacks Research downgraded 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 assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $17.75.

Insiders Place Their Bets

In other Iamgold news, Director David Stewart Smith sold 31,000 shares of Iamgold 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 sale, the director directly owned 20,000 shares of the company’s stock, valued at approximately $657,400. The trade was a 60.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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.