WINTON GROUP Ltd Purchases New Shares in Iamgold Corporation $IAG

WINTON GROUP Ltd purchased a new position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 396,710 shares of the mining company’s stock, valued at approximately $5,129,000. WINTON GROUP Ltd owned 0.07% of Iamgold at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tsfg LLC purchased a new stake in shares of Iamgold in the third quarter valued at about $26,000. Banque Transatlantique SA acquired a new stake in shares of Iamgold during the second quarter worth about $26,000. Tableaux LLC purchased a new position in shares of Iamgold during the second quarter worth about $61,000. Olympiad Research LP purchased a new position in shares of Iamgold during the second quarter worth about $87,000. Finally, Stevens Capital Management LP acquired a new position in Iamgold in the 2nd quarter valued at about $90,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Iamgold in a research note on Thursday, January 22nd. Scotiabank lifted their target price on Iamgold to $25.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 25th. TD Securities reissued a “buy” rating on shares of Iamgold in a report on Thursday, February 19th. Zacks Research upgraded Iamgold from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Iamgold in a report on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $17.75.

Insiders Place Their Bets

In related news, Director David Stewart Smith sold 31,000 shares of the company’s stock in a transaction 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 transaction, the director owned 20,000 shares of the company’s stock, valued at $657,400. This represents a 60.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.17% of the stock is owned by corporate insiders.

Iamgold Price Performance

Shares of IAG opened at $21.85 on Tuesday. The company has a current ratio of 1.75, a quick ratio of 1.02 and a debt-to-equity ratio of 0.15. The stock’s 50 day moving average is $20.01 and its two-hundred day moving average is $15.48. Iamgold Corporation has a twelve month low of $5.02 and a twelve month high of $24.87. The firm has a market capitalization of $12.89 billion, a PE ratio of 19.00, a P/E/G ratio of 1.73 and a beta of 1.32.

Iamgold (NYSE:IAG) (TSE:IMG) last issued 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 the consensus estimate of $1.08 billion. Iamgold had a return on equity of 19.26% and a net margin of 23.29%. Research analysts anticipate that Iamgold Corporation will post 0.67 earnings per share for the current year.

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.