Themes Management Co LLC Invests $1.68 Million in Iamgold Corporation $IAG

Themes Management Co LLC purchased a new stake in Iamgold Corporation (NYSE:IAG) (TSE:IMG) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 101,831 shares of the mining company’s stock, valued at approximately $1,680,000. Iamgold accounts for about 1.3% of Themes Management Co LLC’s portfolio, making the stock its 18th largest position.

Several other hedge funds and other institutional investors also recently modified their holdings of IAG. Rathbones Group PLC increased its holdings in shares of Iamgold by 1,037,042.8% in the fourth quarter. Rathbones Group PLC now owns 418,901,982 shares of the mining company’s stock valued at $6,907,694,000 after purchasing an additional 418,861,592 shares during the period. Van ECK Associates Corp increased its stake in Iamgold by 35.7% in the 3rd quarter. Van ECK Associates Corp now owns 51,992,067 shares of the mining company’s stock valued at $672,253,000 after buying an additional 13,691,148 shares during the period. Vanguard Group Inc. lifted its stake in shares of Iamgold by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 23,836,156 shares of the mining company’s stock worth $393,328,000 after acquiring an additional 1,068,465 shares during the period. Bank of America Corp DE increased its stake in shares of Iamgold by 16.4% during the third quarter. Bank of America Corp DE now owns 11,194,505 shares of the mining company’s stock worth $144,745,000 after acquiring an additional 1,581,064 shares during the period. Finally, Mackenzie Financial Corp raised its holdings in Iamgold by 46.9% during the third quarter. Mackenzie Financial Corp now owns 11,181,693 shares of the mining company’s stock worth $144,430,000 after purchasing an additional 3,567,399 shares in the last quarter. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Iamgold Trading Down 0.0%

Shares of IAG stock opened at $16.52 on Tuesday. The stock has a market cap of $9.55 billion, a P/E ratio of 9.60, a P/E/G ratio of 0.81 and a beta of 1.26. 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 Corporation has a fifty-two week low of $6.57 and a fifty-two week high of $24.87. The business has a fifty day simple moving average of $18.07 and a 200-day simple moving average of $17.98.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.14. Iamgold had a net margin of 29.49% and a return on equity of 26.65%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $955.17 million. On average, analysts forecast that Iamgold Corporation will post 2.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IAG. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Iamgold in a research note on Wednesday, February 4th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Iamgold in a report on Tuesday, April 21st. TD Securities restated a “buy” rating on shares of Iamgold in a research report on Thursday, February 19th. Wall Street Zen upgraded shares of Iamgold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Finally, Scotiabank increased their price target on shares of Iamgold to $25.00 and gave the company a “sector perform” rating in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Iamgold has an average rating of “Moderate Buy” and an average price target of $17.75.

Insider Buying and Selling at Iamgold

In related 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 completion of the transaction, the director directly 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 document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is currently owned by company 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.