Iamgold Corporation $IAG Shares Sold by Wealth High Governance Capital Ltda

Key Points

• Wealth High Governance Capital Ltda reduced its Iamgold stake by 59.3% in Q4, selling 355,895 shares and leaving it with 244,105 shares worth about $4.03 million.
• Iamgold director David Stewart Smith sold 31,000 shares at an average $32.87 for roughly $1.02 million, cutting his ownership by 60.78% to 20,000 shares; corporate insiders own about 0.17% of the stock.
• Analysts have a consensus rating of “Moderate Buy” with an average target of $17.75 (one Strong Buy, five Buy, three Hold), while Scotiabank raised its target to $25; IAG was trading near $16.32 with a 52‑week range of $6.06–$24.87 and a market cap around $9.47 billion.

Wealth High Governance Capital Ltda lowered its position in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 59.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 244,105 shares of the mining company's stock after selling 355,895 shares during the period. Wealth High Governance Capital Ltda's holdings in Iamgold were worth $4,025,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Banque Transatlantique SA purchased a new stake in Iamgold in the second quarter valued at $26,000. Tsfg LLC purchased a new stake in Iamgold in the third quarter valued at $26,000. FNY Investment Advisers LLC purchased a new stake in Iamgold in the fourth quarter valued at $38,000. LOM Asset Management Ltd purchased a new stake in Iamgold in the fourth quarter valued at $49,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Iamgold in the fourth quarter valued at $57,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on IAG shares. TD Securities reissued a "buy" rating on shares of Iamgold in a research report on Thursday, February 19th. Weiss Ratings reissued a "buy (b)" rating on shares of Iamgold in a research report on Tuesday, April 21st. Wall Street Zen raised shares of Iamgold from a "buy" rating to a "strong-buy" rating in a research report on Saturday, February 21st. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Iamgold in a research report on Wednesday, February 4th. Finally, Scotiabank boosted their price target on shares of Iamgold to $25.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, Iamgold has a consensus rating of "Moderate Buy" and an average target price of $17.75.

Insider Transactions at Iamgold

In related news, Director David Stewart Smith sold 31,000 shares of the stock in a transaction dated Friday, February 27th. The shares were sold at an average price of $32.87, for a total transaction of $1,018,970.00. Following the completion of the transaction, the director directly owned 20,000 shares of the company's stock, valued at $657,400. This represents a 60.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.17% of the stock is owned by corporate insiders.

Iamgold Trading Down 1.0%

NYSE IAG opened at $16.32 on Thursday. The stock has a market capitalization of $9.47 billion, a P/E ratio of 14.19, a P/E/G ratio of 1.17 and a beta of 1.46. Iamgold Corporation has a 52-week low of $6.06 and a 52-week high of $24.87. The firm has a 50-day moving average price of $19.69 and a 200 day moving average price of $17.37. The company has a quick ratio of 1.02, a current ratio of 1.75 and a debt-to-equity ratio of 0.15.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last posted its quarterly earnings results on Tuesday, February 17th. The mining company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.15. The firm had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.08 billion. Iamgold had a net margin of 23.29% and a return on equity of 19.26%. Equities research analysts expect that Iamgold Corporation will post 2.13 EPS for the current year.

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.

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