BW Gestao de Investimentos Ltda. Makes New Investment in Iamgold Corporation $IAG

Key Points

• BW Gestao de Investimentos opened a new position in Iamgold (NYSE:IAG), buying 400,000 shares worth about $5.17 million, equal to roughly 0.07% ownership.
• Equity analysts are largely bullish on Iamgold with an average rating of "Buy" and a consensus price target of $17.75, including recent upgrades to "strong-buy" from several firms.
• Insider activity: director David Stewart Smith sold 31,000 shares at an average price of $32.87 (~$1.02 million), cutting his holding by 60.78%; company insiders now own about 0.17% of the stock.

BW Gestao de Investimentos Ltda. acquired a new position in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 400,000 shares of the mining company's stock, valued at approximately $5,172,000. BW Gestao de Investimentos Ltda. owned about 0.07% of Iamgold as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in IAG. Tsfg LLC purchased a new position in Iamgold during the third quarter worth about $26,000. Banque Transatlantique SA purchased a new stake in Iamgold in the 2nd quarter valued at about $26,000. Tableaux LLC acquired a new position in shares of Iamgold during the 2nd quarter valued at about $61,000. Olympiad Research LP acquired a new position in shares of Iamgold during the 2nd quarter valued at about $87,000. Finally, Stevens Capital Management LP purchased a new position in shares of Iamgold during the 2nd quarter worth about $90,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on IAG. Weiss Ratings reissued a "buy (b)" rating on shares of Iamgold in a research report on Thursday, January 22nd. Zacks Research raised shares of Iamgold from a "hold" rating to a "strong-buy" rating in a research note on Friday, February 27th. Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Iamgold in a report on Wednesday, February 4th. Scotiabank boosted their price objective on shares of Iamgold to $25.00 and gave the company a "sector perform" rating in a research note on Wednesday, February 25th. Finally, Wall Street Zen upgraded Iamgold from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 21st. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Iamgold currently has an average rating of "Buy" and a consensus price target of $17.75.

Insider Buying and Selling at Iamgold

In related news, Director David Stewart Smith sold 31,000 shares of the company's stock in a transaction that occurred 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 sale, the director directly owned 20,000 shares of the company's stock, valued at approximately $657,400. This represents a 60.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.17% of the company's stock.

Iamgold Stock Up 0.4%

Shares of Iamgold stock opened at $21.85 on Tuesday. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.75 and a quick ratio of 1.02. Iamgold Corporation has a 1-year low of $5.02 and a 1-year high of $24.87. The business has a 50-day moving average of $20.01 and a 200-day moving average of $15.48. The company has a market capitalization of $12.89 billion, a PE ratio of 19.00, a P/E/G ratio of 1.73 and a beta of 1.32.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last announced its earnings results on Tuesday, February 17th. The mining company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.55 by $0.15. The company had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Iamgold had a return on equity of 19.26% and a net margin of 23.29%. As a group, equities analysts forecast that Iamgold Corporation will post 0.67 EPS for the current fiscal year.

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.

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