BW Gestao de Investimentos Ltda. Cuts Stock Holdings in Iamgold Corporation $IAG

BW Gestao de Investimentos Ltda. reduced its position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 61.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 155,895 shares of the mining company’s stock after selling 244,105 shares during the period. BW Gestao de Investimentos Ltda.’s holdings in Iamgold were worth $2,571,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its holdings in Iamgold by 11.7% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 3,917,300 shares of the mining company’s stock valued at $64,645,000 after acquiring an additional 408,800 shares during the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in Iamgold by 28.5% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 587,920 shares of the mining company’s stock valued at $7,602,000 after buying an additional 130,400 shares during the last quarter. Waratah Capital Advisors Ltd. increased its holdings in Iamgold by 731.8% in the third quarter. Waratah Capital Advisors Ltd. now owns 2,113,558 shares of the mining company’s stock valued at $27,328,000 after buying an additional 1,859,463 shares during the last quarter. CI Investments Inc. purchased a new position in shares of Iamgold during the third quarter worth about $96,747,000. Finally, Rathbones Group PLC lifted its position in Iamgold by 1,037,042.8% in the fourth quarter. Rathbones Group PLC now owns 418,901,982 shares of the mining company’s stock valued at $6,907,694,000 after purchasing an additional 418,861,592 shares during the period. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on IAG shares. Scotiabank raised their price objective on shares of Iamgold to $25.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 25th. TD Securities reiterated a “buy” rating on shares of Iamgold in a research report on Thursday, February 19th. Weiss Ratings reiterated a “buy (b)” rating on shares of Iamgold in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of Iamgold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Iamgold in a research report on Wednesday, February 4th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Iamgold has an average rating of “Moderate Buy” and a consensus price target of $17.75.

Iamgold Stock Up 0.6%

IAG stock opened at $17.47 on Wednesday. The stock has a market capitalization of $10.10 billion, a P/E ratio of 10.16, a PEG ratio of 0.84 and a beta of 1.25. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.89. Iamgold Corporation has a one year low of $6.69 and a one year high of $24.87. The company has a 50 day moving average price of $17.93 and a two-hundred day moving average price of $18.14.

Iamgold (NYSE:IAG) (TSE:IMG) last released its earnings results on Tuesday, May 5th. The mining company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.52 by $0.14. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $955.17 million. Iamgold had a net margin of 29.49% and a return on equity of 26.65%. As a group, sell-side analysts expect that Iamgold Corporation will post 2.27 EPS 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.