Iamgold Corporation $IAG Stock Holdings Increased by U S Global Investors Inc.

U S Global Investors Inc. increased its holdings in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 15.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 575,000 shares of the mining company’s stock after purchasing an additional 75,000 shares during the quarter. Iamgold accounts for 1.0% of U S Global Investors Inc.’s holdings, making the stock its 25th biggest position. U S Global Investors Inc. owned about 0.10% of Iamgold worth $9,482,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Iamgold by 11.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,917,300 shares of the mining company’s stock worth $64,645,000 after purchasing an additional 408,800 shares in the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in shares of Iamgold by 28.5% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 587,920 shares of the mining company’s stock worth $7,602,000 after purchasing an additional 130,400 shares in the last quarter. Waratah Capital Advisors Ltd. raised its holdings in shares of Iamgold by 731.8% in the 3rd 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 in the last quarter. CI Investments Inc. bought a new stake in shares of Iamgold in the 3rd quarter worth approximately $96,747,000. Finally, Gamco Investors INC. ET AL raised its holdings in shares of Iamgold by 381.0% in the 3rd quarter. Gamco Investors INC. ET AL now owns 393,280 shares of the mining company’s stock worth $5,084,000 after purchasing an additional 311,510 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director David Stewart Smith sold 31,000 shares of the business’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 transaction of $1,018,970.00. Following the transaction, the director directly owned 20,000 shares of the company’s stock, valued at approximately $657,400. The trade was a 60.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IAG. Zacks Research downgraded shares of Iamgold from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Scotiabank boosted 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. Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a report on Tuesday. Wall Street Zen upgraded shares of Iamgold from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Finally, TD Securities restated a “buy” rating on shares of Iamgold in a report on Thursday, February 19th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $17.75.

Iamgold Price Performance

NYSE IAG opened at $17.09 on Friday. The company has a 50 day simple moving average of $20.06 and a 200-day simple moving average of $17.24. 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 has a market capitalization of $9.92 billion, a price-to-earnings ratio of 14.86, a price-to-earnings-growth ratio of 1.17 and a beta of 1.46. Iamgold Corporation has a 52-week low of $6.06 and a 52-week high of $24.87.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Tuesday, February 17th. The mining company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.15. Iamgold had a net margin of 23.29% and a return on equity of 19.26%. The firm had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. Equities research analysts predict that Iamgold Corporation will post 2.16 earnings per share for the current fiscal year.

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.