Northwestern Mutual Wealth Management Co. Boosts Stake in Iamgold Corporation $IAG

Northwestern Mutual Wealth Management Co. lifted its holdings in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 1,291.3% in the 4th quarter, Holdings Channel reports. The firm owned 147,479 shares of the mining company’s stock after acquiring an additional 136,879 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Iamgold were worth $2,432,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Fulcrum Asset Management LLP purchased a new position in shares of Iamgold in the fourth quarter worth $336,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in shares of Iamgold in the fourth quarter worth $564,000. World Investment Advisors purchased a new position in shares of Iamgold in the fourth quarter worth $179,000. Navellier & Associates Inc. purchased a new position in shares of Iamgold in the fourth quarter worth $1,600,000. Finally, SBI Securities Co. Ltd. raised its stake in shares of Iamgold by 366.6% in the fourth quarter. SBI Securities Co. Ltd. now owns 3,476 shares of the mining company’s stock worth $57,000 after purchasing an additional 2,731 shares during the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. TD Securities restated a “buy” rating on shares of Iamgold in a research note on Thursday, February 19th. Scotiabank boosted their price target on Iamgold to $25.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 25th. Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a research note on Tuesday, April 21st. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Iamgold in a research note on Wednesday, February 4th. Finally, Wall Street Zen upgraded Iamgold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Iamgold currently has a consensus rating of “Moderate Buy” and an average price target of $17.75.

Iamgold Stock Up 4.5%

Iamgold stock opened at $17.26 on Wednesday. The stock has a market cap of $9.98 billion, a PE ratio of 10.03, a price-to-earnings-growth ratio of 0.81 and a beta of 1.26. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.89. Iamgold Corporation has a one year low of $6.57 and a one year high of $24.87. The stock has a fifty day moving average of $18.02 and a 200 day moving average of $18.02.

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

Insider Buying and Selling

In related news, Director David Stewart Smith sold 31,000 shares of the company’s stock in a transaction on 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 completion of the sale, the director owned 20,000 shares in the company, valued at approximately $657,400. This represents a 60.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.