William Blair Investment Management LLC Takes Position in Iamgold Corporation $IAG

William Blair Investment Management LLC purchased a new stake in Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,344,835 shares of the mining company’s stock, valued at approximately $17,389,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Harvest Portfolios Group Inc. raised its holdings in Iamgold by 5.5% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 137,483 shares of the mining company’s stock valued at $1,776,000 after acquiring an additional 7,189 shares in the last quarter. Erste Asset Management GmbH increased its position in shares of Iamgold by 11.2% in the third quarter. Erste Asset Management GmbH now owns 79,500 shares of the mining company’s stock worth $1,019,000 after purchasing an additional 8,026 shares during the period. TD Asset Management Inc raised its stake in Iamgold by 43.5% in the third quarter. TD Asset Management Inc now owns 2,469,563 shares of the mining company’s stock valued at $31,912,000 after purchasing an additional 748,439 shares in the last quarter. Waratah Capital Advisors Ltd. lifted its position in Iamgold by 731.8% during the third quarter. Waratah Capital Advisors Ltd. now owns 2,113,558 shares of the mining company’s stock worth $27,328,000 after purchasing an additional 1,859,463 shares during the period. Finally, Vanguard Group Inc. lifted its position in Iamgold by 3.5% during the third quarter. Vanguard Group Inc. now owns 22,767,691 shares of the mining company’s stock worth $294,151,000 after purchasing an additional 778,680 shares during the period. Institutional investors own 47.08% of the company’s stock.

Iamgold Stock Performance

Shares of Iamgold stock opened at $24.20 on Tuesday. The stock has a market cap of $14.27 billion, a price-to-earnings ratio of 21.05, a P/E/G ratio of 1.95 and a beta of 1.32. The company’s fifty day moving average is $19.52 and its 200 day moving average is $14.99. The company has a quick ratio of 1.02, a current ratio of 1.75 and a debt-to-equity ratio of 0.15. Iamgold Corporation has a twelve month low of $5.02 and a twelve month high of $24.87.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Tuesday, February 17th. The mining company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates 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. Sell-side analysts forecast that Iamgold Corporation will post 0.67 EPS for the current year.

Insiders Place Their Bets

In other news, Director David Stewart Smith sold 31,000 shares of Iamgold stock in a transaction dated Friday, February 27th. The stock was 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 directly owned 20,000 shares of the company’s stock, valued at approximately $657,400. This trade represents a 60.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

IAG has been the topic of several recent analyst reports. Zacks Research raised shares of Iamgold from a “hold” rating to a “strong-buy” rating in a report on Friday. Wall Street Zen upgraded shares of Iamgold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a research report on Thursday, January 22nd. TD Securities restated a “buy” rating on shares of Iamgold in a research note on Thursday, February 19th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Iamgold in a report on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, Iamgold presently has a consensus rating of “Buy” and a consensus target price of $17.75.

About Iamgold

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.