Iamgold Corporation $IAG Holdings Boosted by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 28.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 587,920 shares of the mining company’s stock after buying an additional 130,400 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Iamgold were worth $7,602,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the business. CI Investments Inc. purchased a new position in shares of Iamgold during the 3rd quarter valued at $96,747,000. Mackenzie Financial Corp lifted its stake in Iamgold by 183.5% in the second quarter. Mackenzie Financial Corp now owns 7,614,294 shares of the mining company’s stock valued at $56,118,000 after acquiring an additional 4,928,077 shares during the last quarter. Bornite Capital Management LP bought a new stake in Iamgold in the second quarter worth approximately $34,089,000. Candriam S.C.A. bought a new stake in Iamgold in the second quarter worth approximately $18,354,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Iamgold by 12.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 20,917,319 shares of the mining company’s stock worth $154,046,000 after purchasing an additional 2,302,527 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Iamgold Stock Down 7.6%

IAG opened at $22.41 on Wednesday. The company has a market capitalization of $13.21 billion, a P/E ratio of 19.49, a P/E/G ratio of 1.92 and a beta of 1.33. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.75 and a quick ratio of 1.02. The firm’s fifty day moving average price is $19.62 and its two-hundred day moving average price is $15.09. Iamgold Corporation has a fifty-two week low of $5.02 and a fifty-two week high of $24.87.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Tuesday, February 17th. The mining company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.15. Iamgold had a return on equity of 19.26% and a net margin of 23.29%.The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. On average, analysts anticipate that Iamgold Corporation will post 0.67 EPS for the current year.

Analysts Set New Price Targets

IAG has been the topic of several analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Iamgold in a research report on Thursday, January 22nd. Scotiabank increased their price objective on Iamgold to $25.00 and gave the company a “sector perform” rating in a report on Wednesday, February 25th. Zacks Research upgraded Iamgold from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Iamgold in a report on Wednesday, February 4th. Finally, TD Securities restated a “buy” rating on shares of Iamgold in a research note on Thursday, February 19th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $17.75.

Insider Activity at Iamgold

In other news, Director David Stewart Smith sold 31,000 shares of the company’s stock in a transaction dated 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 sale, the director owned 20,000 shares of the company’s stock, valued at approximately $657,400. This represents a 60.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate 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.