Iamgold (NYSE:IAG) Director David Stewart Smith Sells 31,000 Shares

Iamgold Corporation (NYSE:IAG) (TSE:IMG) Director David Stewart Smith sold 31,000 shares of the firm’s stock in a transaction that occurred 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 completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Iamgold Stock Up 3.3%

NYSE IAG opened at $24.61 on Friday. The business has a fifty day moving average price of $19.39 and a 200 day moving average price of $14.78. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.75. The company has a market cap of $14.51 billion, a P/E ratio of 21.40, a P/E/G ratio of 0.28 and a beta of 1.36. Iamgold Corporation has a one year low of $5.02 and a one year high of $24.66.

Iamgold (NYSE:IAG) (TSE:IMG) last released its earnings results on Tuesday, February 17th. The mining company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. Research analysts anticipate that Iamgold Corporation will post 0.67 EPS for the current fiscal year.

Institutional Investors Weigh In On Iamgold

Institutional investors have recently made changes to their positions in the stock. Voloridge Investment Management LLC raised its stake in shares of Iamgold by 261.8% in the 4th quarter. Voloridge Investment Management LLC now owns 3,502,469 shares of the mining company’s stock valued at $57,756,000 after acquiring an additional 2,534,395 shares during the period. SummitTX Capital L.P. acquired a new stake in Iamgold in the 4th quarter valued at approximately $195,000. Oxford Asset Management LLP purchased a new stake in Iamgold in the fourth quarter valued at approximately $855,000. Orion Resource Partners LP lifted its stake in Iamgold by 5.4% during the fourth quarter. Orion Resource Partners LP now owns 124,438 shares of the mining company’s stock worth $2,054,000 after purchasing an additional 6,375 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Iamgold by 4.4% during the fourth quarter. Millennium Management LLC now owns 3,300,768 shares of the mining company’s stock worth $54,432,000 after buying an additional 137,691 shares during the period. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

IAG has been the topic of a number of analyst reports. Scotiabank lifted their price objective on Iamgold to $25.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Zacks Research cut shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. TD Securities restated a “buy” rating on shares of Iamgold in a research report on Thursday, February 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Iamgold in a research note on Thursday, January 22nd. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Iamgold in a research note on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $17.75.

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.