Iamgold Corporation $IAG Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC lowered its holdings in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 9.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,221,611 shares of the mining company’s stock after selling 123,224 shares during the period. William Blair Investment Management LLC owned approximately 0.21% of Iamgold worth $20,144,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Catalyst Funds Management Pty Ltd acquired a new position in shares of Iamgold in the fourth quarter valued at approximately $203,000. Cumberland Partners Ltd acquired a new stake in shares of Iamgold in the fourth quarter valued at $453,000. Global Retirement Partners LLC acquired a new stake in shares of Iamgold in the fourth quarter valued at $33,000. Rathbones Group PLC raised its stake in shares of Iamgold by 3.7% in the fourth quarter. Rathbones Group PLC now owns 41,890 shares of the mining company’s stock valued at $691,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Banque Cantonale Vaudoise raised its stake in shares of Iamgold by 617.8% in the fourth quarter. Banque Cantonale Vaudoise now owns 2,986 shares of the mining company’s stock valued at $49,000 after acquiring an additional 2,570 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Insiders Place Their Bets

In other Iamgold news, Director David Stewart Smith sold 31,000 shares of the firm’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 in the company, valued at $657,400. This trade represents a 60.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.17% of the stock is currently owned by corporate insiders.

Iamgold Stock Down 0.0%

Shares of NYSE IAG opened at $16.52 on Tuesday. Iamgold Corporation has a 12-month low of $6.57 and a 12-month high of $24.87. 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 stock has a market cap of $9.55 billion, a P/E ratio of 9.60, a PEG ratio of 0.81 and a beta of 1.26. The business’s fifty day simple moving average is $18.07 and its 200-day simple moving average is $17.98.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. Iamgold had a return on equity of 26.65% and a net margin of 29.49%.The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $955.17 million. As a group, equities analysts predict that Iamgold Corporation will post 2.24 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Wall Street Zen upgraded Iamgold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Zacks Research cut Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Iamgold in a research note on Tuesday, April 21st. TD Securities reiterated a “buy” rating on shares of Iamgold in a research note on Thursday, February 19th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Iamgold in a research note on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.75.

About Iamgold

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.