PKO Investment Management Joint Stock Co Sells 58,026 Shares of Iamgold Corporation $IAG

PKO Investment Management Joint Stock Co lessened its stake in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 21.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 211,974 shares of the mining company’s stock after selling 58,026 shares during the quarter. PKO Investment Management Joint Stock Co’s holdings in Iamgold were worth $3,978,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada raised its holdings in Iamgold by 14.0% during the 1st quarter. Royal Bank of Canada now owns 691,322 shares of the mining company’s stock valued at $4,321,000 after buying an additional 84,939 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Iamgold by 6.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,420,263 shares of the mining company’s stock worth $15,127,000 after acquiring an additional 144,160 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Iamgold by 67.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,005,292 shares of the mining company’s stock worth $6,283,000 after acquiring an additional 404,645 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Iamgold by 64.1% in the second quarter. JPMorgan Chase & Co. now owns 228,257 shares of the mining company’s stock valued at $1,678,000 after acquiring an additional 89,197 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Iamgold by 16.9% in the second quarter. The Manufacturers Life Insurance Company now owns 532,137 shares of the mining company’s stock valued at $3,899,000 after acquiring an additional 77,016 shares during the period. Institutional investors own 47.08% of the company’s stock.

Iamgold Stock Performance

NYSE:IAG opened at $16.89 on Tuesday. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.12. The firm’s fifty day simple moving average is $17.44 and its 200 day simple moving average is $18.40. The stock has a market cap of $9.76 billion, a P/E ratio of 9.82, a price-to-earnings-growth ratio of 0.81 and a beta of 1.25. Iamgold Corporation has a twelve month low of $6.69 and a twelve month high of $24.87.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data 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 net margin of 29.49% and a return on equity of 26.65%. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $955.17 million. As a group, research analysts predict that Iamgold Corporation will post 2.27 EPS for the current year.

Analyst Ratings Changes

IAG has been the subject of a number of analyst reports. Zacks Research lowered shares of Iamgold from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Scotiabank boosted their price target on Iamgold to $25.00 and gave the company a “sector perform” rating in a report on Wednesday, February 25th. Finally, Weiss Ratings lowered Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.