Synergy Asset Management LLC Decreases Stock Holdings in Iamgold Corporation $IAG

Synergy Asset Management LLC lowered its position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 73.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,875 shares of the mining company’s stock after selling 53,467 shares during the period. Synergy Asset Management LLC’s holdings in Iamgold were worth $311,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of IAG. Public Employees Retirement System of Ohio lifted its holdings in Iamgold by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 220,452 shares of the mining company’s stock worth $2,849,000 after buying an additional 1,303 shares during the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of Iamgold by 4.3% during the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 38,499 shares of the mining company’s stock worth $498,000 after acquiring an additional 1,598 shares in the last quarter. Tsfg LLC purchased a new position in shares of Iamgold in the 3rd quarter valued at about $26,000. Creative Planning increased its holdings in shares of Iamgold by 18.1% in the 3rd quarter. Creative Planning now owns 15,987 shares of the mining company’s stock valued at $207,000 after acquiring an additional 2,451 shares during the last quarter. Finally, Measured Wealth Private Client Group LLC raised its position in shares of Iamgold by 4.0% during the 2nd quarter. Measured Wealth Private Client Group LLC now owns 89,293 shares of the mining company’s stock worth $656,000 after acquiring an additional 3,396 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on IAG shares. Scotiabank boosted their target price on Iamgold to $25.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 25th. Wall Street Zen upgraded shares of Iamgold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. TD Securities reissued a “buy” rating on shares of Iamgold in a report on Thursday, February 19th. Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a research report on Thursday, January 22nd. Finally, Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Iamgold in a report on Wednesday, February 4th. Two equities research 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 MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $17.75.

Iamgold Stock Up 4.6%

IAG stock opened at $17.70 on Friday. The company has a market cap of $10.40 billion, a price-to-earnings ratio of 15.39, a price-to-earnings-growth ratio of 1.34 and a beta of 1.33. The company has a fifty day moving average price of $20.47 and a 200 day moving average price of $16.30. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.75 and a quick ratio of 1.02. Iamgold Corporation has a 12 month low of $5.35 and a 12 month high of $24.87.

Iamgold (NYSE:IAG) (TSE:IMG) last posted 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 company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Sell-side analysts expect 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.