Northwestern Mutual Wealth Management Co. Acquires 136,879 Shares of Iamgold Corporation $IAG

Northwestern Mutual Wealth Management Co. lifted its position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 1,291.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 147,479 shares of the mining company’s stock after purchasing an additional 136,879 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Iamgold were worth $2,432,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Tsfg LLC bought a new stake in shares of Iamgold during the third quarter valued at approximately $26,000. Banque Transatlantique SA bought a new stake in shares of Iamgold during the second quarter valued at approximately $26,000. FNY Investment Advisers LLC bought a new stake in shares of Iamgold during the fourth quarter valued at approximately $38,000. LOM Asset Management Ltd bought a new stake in shares of Iamgold during the fourth quarter valued at approximately $49,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Iamgold during the fourth quarter valued at approximately $57,000. 47.08% of the stock is currently owned by institutional investors.

Iamgold Trading Up 4.5%

Iamgold stock opened at $17.26 on Wednesday. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. The business’s fifty day simple moving average is $18.02 and its two-hundred day simple moving average is $18.02. Iamgold Corporation has a 12 month low of $6.57 and a 12 month high of $24.87. The company has a market capitalization of $9.98 billion, a price-to-earnings ratio of 10.03, a price-to-earnings-growth ratio of 0.81 and a beta of 1.26.

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. Iamgold had a return on equity of 26.65% and a net margin of 29.49%.The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $955.17 million. As a group, equities analysts predict that Iamgold Corporation will post 2.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Iamgold news, Director David Stewart Smith sold 31,000 shares of the business’s stock in a transaction on 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 sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.17% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.