Wealth High Governance Capital Ltda Takes $7.76 Million Position in Iamgold Corporation $IAG

Wealth High Governance Capital Ltda bought a new stake in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 600,000 shares of the mining company’s stock, valued at approximately $7,758,000. Iamgold accounts for 2.2% of Wealth High Governance Capital Ltda’s portfolio, making the stock its 19th biggest holding. Wealth High Governance Capital Ltda owned 0.10% of Iamgold as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of IAG. Tsfg LLC bought a new stake in Iamgold in the third quarter valued at approximately $26,000. Banque Transatlantique SA bought a new position in shares of Iamgold in the second quarter worth approximately $26,000. Tableaux LLC bought a new position in shares of Iamgold in the second quarter worth approximately $61,000. Olympiad Research LP purchased a new position in shares of Iamgold in the second quarter worth $87,000. Finally, Stevens Capital Management LP purchased a new position in shares of Iamgold in the second quarter worth $90,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

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 shares were sold at an average price of $32.87, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.17% of the stock is owned by corporate insiders.

Iamgold Trading Down 4.7%

IAG stock traded down $1.01 on Friday, reaching $20.37. The company’s stock had a trading volume of 2,044,095 shares, compared to its average volume of 8,765,813. The firm has a market cap of $12.02 billion, a PE ratio of 17.71, a PEG ratio of 1.73 and a beta of 1.33. The business has a fifty day simple moving average of $20.32 and a two-hundred day simple moving average of $15.66. Iamgold Corporation has a 12-month low of $5.35 and a 12-month high of $24.87. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.75.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Tuesday, February 17th. The mining company reported $0.70 earnings per share (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 business had revenue of $1.08 billion for the quarter, compared to the consensus estimate of $1.08 billion. As a group, research analysts forecast that Iamgold Corporation will post 0.67 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on IAG shares. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Iamgold in a research report on Wednesday, February 4th. TD Securities restated a “buy” rating on shares of Iamgold in a research report on Thursday, February 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Iamgold in a research note on Thursday, January 22nd. 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. Finally, Wall Street Zen raised Iamgold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Iamgold currently has an average rating of “Buy” and an average price target of $17.75.

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.