Iamgold Corporation $IAG Shares Acquired by Picton Mahoney Asset Management

Picton Mahoney Asset Management boosted its stake in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 39.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,893,422 shares of the mining company’s stock after acquiring an additional 1,103,636 shares during the period. Picton Mahoney Asset Management owned 0.68% of Iamgold worth $50,290,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Tsfg LLC bought a new stake in shares of Iamgold in the 3rd quarter worth about $26,000. Banque Transatlantique SA acquired a new position in Iamgold in the second quarter worth about $26,000. Tableaux LLC bought a new stake in Iamgold in the second quarter valued at about $61,000. Olympiad Research LP acquired a new stake in Iamgold during the second quarter valued at approximately $87,000. Finally, Kingsview Wealth Management LLC acquired a new stake in Iamgold during the second quarter valued at approximately $90,000. 47.08% of the stock is currently owned by institutional investors.

Iamgold Price Performance

Shares of IAG opened at $22.41 on Wednesday. Iamgold Corporation has a 12 month low of $5.02 and a 12 month high of $24.87. 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 stock has a fifty day moving average price of $19.62 and a 200 day moving average price of $15.09. The company has a market cap of $13.21 billion, a P/E ratio of 19.49, a PEG ratio of 1.92 and a beta of 1.33.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Tuesday, February 17th. The mining company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.15. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. Iamgold had a net margin of 23.29% and a return on equity of 19.26%. On average, research analysts forecast that Iamgold Corporation will post 0.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IAG. Wall Street Zen upgraded Iamgold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Zacks Research raised shares of Iamgold from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Scotiabank increased their target price on shares of Iamgold to $25.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 25th. TD Securities restated a “buy” rating on shares of Iamgold in a research report on Thursday, February 19th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Iamgold in a report on Thursday, January 22nd. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average target price of $17.75.

Insider Transactions at Iamgold

In other Iamgold news, Director David Stewart Smith sold 31,000 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director directly owned 20,000 shares of the company’s stock, valued at $657,400. The trade was a 60.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.17% of the stock is owned by insiders.

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.