94,233 Shares in Iamgold Corporation $IAG Bought by Williamson Legacy Group LLC

Williamson Legacy Group LLC acquired a new position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 94,233 shares of the mining company’s stock, valued at approximately $1,554,000.

Several other hedge funds and other institutional investors have also modified their holdings of IAG. Royal Bank of Canada raised its holdings in shares of Iamgold by 14.0% during the first quarter. Royal Bank of Canada now owns 691,322 shares of the mining company’s stock worth $4,321,000 after acquiring an additional 84,939 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Iamgold by 6.3% during the first 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 in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Iamgold by 67.4% during the first 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 in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Iamgold by 64.1% during the second quarter. JPMorgan Chase & Co. now owns 228,257 shares of the mining company’s stock worth $1,678,000 after acquiring an additional 89,197 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Iamgold by 16.9% during the second quarter. The Manufacturers Life Insurance Company now owns 532,137 shares of the mining company’s stock worth $3,899,000 after acquiring an additional 77,016 shares in the last quarter. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Iamgold Price Performance

NYSE IAG opened at $17.26 on Wednesday. Iamgold Corporation has a fifty-two week low of $6.57 and a fifty-two week high of $24.87. The stock’s 50-day moving average is $18.02 and its two-hundred day moving average is $18.02. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.89 and a quick ratio of 1.21. The firm has a market cap of $9.98 billion, a P/E ratio of 10.03, a price-to-earnings-growth ratio of 0.81 and a beta of 1.26.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $955.17 million. On average, analysts anticipate that Iamgold Corporation will post 2.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IAG. Wall Street Zen upgraded Iamgold from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a report on Tuesday, April 21st. Zacks Research lowered Iamgold from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. TD Securities restated a “buy” rating on shares of Iamgold in a report on Thursday, February 19th. Finally, Scotiabank raised their target price on Iamgold to $25.00 and gave the company a “sector perform” rating in a report on Wednesday, February 25th. One 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. According to data from MarketBeat, Iamgold currently has a consensus rating of “Moderate Buy” and an average target price of $17.75.

Insiders Place Their Bets

In other news, Director David Stewart Smith sold 31,000 shares of Iamgold 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 directly owned 20,000 shares in the company, valued at approximately $657,400. The trade was a 60.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.17% of the stock is currently owned by company insiders.

Iamgold 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.