Navellier & Associates Inc. Takes Position in Iamgold Corporation $IAG

Key Points

• Navellier & Associates bought a new stake of 97,007 shares in Iamgold during Q4 (about $1.6M), and institutional investors now own approximately 47.08% of the company.
• Iamgold beat quarterly estimates on May 5 with $0.66 EPS versus $0.52 expected and revenue of $1.01B versus $950.6M, posting a 19.26% ROE and a 23.29% net margin.
• Analyst sentiment is largely positive with a MarketBeat consensus of “Moderate Buy” and a consensus price target of $17.75, while firms like Scotiabank (PT $25) and TD Securities have issued upgraded/Buy views.

Navellier & Associates Inc. purchased a new stake in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 97,007 shares of the mining company's stock, valued at approximately $1,600,000.

A number of other large investors have also recently modified their holdings of the business. SBI Securities Co. Ltd. boosted its position in shares of Iamgold by 366.6% during the 4th quarter. SBI Securities Co. Ltd. now owns 3,476 shares of the mining company's stock valued at $57,000 after acquiring an additional 2,731 shares during the last quarter. PKO Investment Management Joint Stock Co boosted its position in shares of Iamgold by 42.1% during the 4th quarter. PKO Investment Management Joint Stock Co now owns 270,000 shares of the mining company's stock valued at $4,464,000 after acquiring an additional 80,000 shares during the last quarter. Oppenheimer & Co. Inc. boosted its position in shares of Iamgold by 137.6% during the 4th quarter. Oppenheimer & Co. Inc. now owns 28,710 shares of the mining company's stock valued at $473,000 after acquiring an additional 16,625 shares during the last quarter. Precision Wealth Strategies LLC bought a new stake in shares of Iamgold during the 4th quarter valued at about $202,000. Finally, Pictet Asset Management Holding SA boosted its position in shares of Iamgold by 7.5% during the 4th quarter. Pictet Asset Management Holding SA now owns 106,882 shares of the mining company's stock valued at $1,766,000 after acquiring an additional 7,421 shares during the last quarter. Institutional investors own 47.08% of the company's stock.

Iamgold Stock Performance

Shares of NYSE IAG opened at $16.29 on Wednesday. The stock has a market cap of $9.45 billion, a price-to-earnings ratio of 14.17, a P/E/G ratio of 0.84 and a beta of 1.26. The company has a current ratio of 1.75, a quick ratio of 1.02 and a debt-to-equity ratio of 0.15. Iamgold Corporation has a 1-year low of $6.06 and a 1-year high of $24.87. The stock's 50-day moving average is $19.46 and its 200 day moving average is $17.44.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last announced its quarterly earnings data on Tuesday, May 5th. The mining company reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.14. The company had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $950.63 million. Iamgold had a return on equity of 19.26% and a net margin of 23.29%. On average, sell-side analysts anticipate that Iamgold Corporation will post 2.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on IAG. Scotiabank lifted their price target on Iamgold to $25.00 and gave the company a "sector perform" rating in a research report on Wednesday, February 25th. TD Securities reissued a "buy" rating on shares of Iamgold in a report on Thursday, February 19th. Weiss Ratings reissued a "buy (b)" rating on shares of Iamgold in a report on Tuesday, April 21st. Wall Street Zen raised Iamgold from a "buy" rating to a "strong-buy" rating in a report on Saturday, February 21st. Finally, Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Iamgold in a report on Wednesday, February 4th. One 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 stock. According to data from MarketBeat, Iamgold presently has a consensus rating of "Moderate Buy" and a consensus price target of $17.75.

Insider Buying and Selling

In other Iamgold news, Director David Stewart Smith sold 31,000 shares of Iamgold 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 transaction, the director directly owned 20,000 shares of the company's stock, valued at $657,400. The trade was a 60.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding IAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.