UBS Group AG Sells 419,485 Shares of Iamgold Corporation $IAG

UBS Group AG lowered its stake in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 43.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 538,012 shares of the mining company’s stock after selling 419,485 shares during the quarter. UBS Group AG owned approximately 0.09% of Iamgold worth $8,872,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio boosted its stake in Iamgold by 0.6% in 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 purchasing an additional 1,303 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in Iamgold by 4.3% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 38,499 shares of the mining company’s stock worth $498,000 after purchasing an additional 1,598 shares during the period. Tsfg LLC bought a new position in Iamgold in the 3rd quarter worth about $26,000. FNY Investment Advisers LLC bought a new position in Iamgold in the 4th quarter worth about $38,000. Finally, Creative Planning boosted its stake in Iamgold by 18.1% in the 3rd quarter. Creative Planning now owns 15,987 shares of the mining company’s stock worth $207,000 after purchasing an additional 2,451 shares during the period. Institutional investors own 47.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented 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. TD Securities restated a “buy” rating on shares of Iamgold in a research note on Thursday, February 19th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Iamgold in a research note on Wednesday, February 4th. Scotiabank raised their target price on Iamgold to $25.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 25th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a research note on Tuesday, April 21st. One research 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $17.75.

Iamgold Stock Performance

Shares of IAG opened at $16.97 on Monday. The company has a market cap of $9.81 billion, a PE ratio of 9.87, a price-to-earnings-growth ratio of 0.83 and a beta of 1.26. 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 50-day moving average price of $18.69 and a 200-day moving average price of $17.77. Iamgold Corporation has a 12-month low of $6.06 and a 12-month high of $24.87.

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

Insider Activity

In related news, Director David Stewart Smith sold 31,000 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $32.87, for a total transaction of $1,018,970.00. Following the transaction, the director directly owned 20,000 shares of the company’s stock, valued at approximately $657,400. This trade represents a 60.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.17% of the company’s stock.

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.