Leuthold Group LLC Sells 208,877 Shares of Iamgold Corporation $IAG

Key Points

• Leuthold Group LLC cut its Iamgold stake by 25.4% in the fourth quarter, selling 208,877 shares and leaving it with 613,738 shares valued at about $10.1 million.
• Institutional ownership remains significant, with several funds increasing positions and about 47.08% of Iamgold’s shares held by institutional investors overall.
• Iamgold reported better-than-expected quarterly results, posting EPS of $0.66 versus the $0.52 consensus and revenue of $1.01 billion; analysts currently rate the stock a Moderate Buy with a $17.75 target price.

Leuthold Group LLC trimmed its position in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 25.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 613,738 shares of the mining company's stock after selling 208,877 shares during the period. Iamgold makes up approximately 1.1% of Leuthold Group LLC's portfolio, making the stock its 24th biggest position. Leuthold Group LLC owned approximately 0.10% of Iamgold worth $10,121,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in IAG. Royal Bank of Canada increased its position in Iamgold by 14.0% in the 1st quarter. Royal Bank of Canada now owns 691,322 shares of the mining company's stock valued at $4,321,000 after buying an additional 84,939 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Iamgold by 6.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,420,263 shares of the mining company's stock valued at $15,127,000 after buying an additional 144,160 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Iamgold by 67.4% in the 1st 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 valued at $6,283,000 after buying an additional 404,645 shares in the last quarter. JPMorgan Chase & Co. increased its position in Iamgold by 64.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 228,257 shares of the mining company's stock valued at $1,678,000 after buying an additional 89,197 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its position in Iamgold by 16.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 532,137 shares of the mining company's stock valued at $3,899,000 after buying an additional 77,016 shares in the last quarter. 47.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on IAG shares. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating on shares of Iamgold in a research report on Wednesday, February 4th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of Iamgold in a research report on Tuesday, April 21st. Zacks Research lowered Iamgold from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. Wall Street Zen raised Iamgold from a "buy" rating to a "strong-buy" rating in a report on Saturday, February 21st. Finally, TD Securities reissued a "buy" rating on shares of Iamgold in a research note on Thursday, February 19th. One research 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's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.75.

Iamgold Trading Down 8.1%

Shares of Iamgold stock opened at $16.97 on Friday. The stock has a fifty day simple moving average of $18.69 and a 200 day simple moving average of $17.72. Iamgold Corporation has a 12-month low of $6.06 and a 12-month high of $24.87. The company has a market capitalization of $9.81 billion, a P/E 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.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last announced its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $955.17 million. On average, sell-side analysts anticipate that Iamgold Corporation will post 2.24 earnings per share for the current fiscal year.

Insider Transactions at Iamgold

In other 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 value 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 legal filing with the SEC, which is available at this hyperlink. 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.

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