Ninety One UK Ltd Has $84.84 Million Stake in Iamgold Corporation $IAG

Key Points

• Ninety One UK Ltd increased its stake in Iamgold by 22.3% in Q4 to 5,144,604 shares (an additional 938,855 shares), holding about $84.84 million worth of stock, or roughly 0.87% of the company.
• Iamgold beat quarterly EPS estimates with $0.70 vs. a $0.55 consensus and reported $1.08 billion in revenue, while the stock trades around $19.24 (12‑month range $6.06–$24.87) and the company has a market cap of about $11.16 billion.
• Analysts have a consensus rating of "Moderate Buy" with an average price target of $17.75, while insider activity shows Director David Stewart Smith sold 31,000 shares at an average of $32.87; institutional investors own about 47.08% of the stock.

Ninety One UK Ltd boosted its holdings in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 22.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,144,604 shares of the mining company's stock after purchasing an additional 938,855 shares during the period. Ninety One UK Ltd owned 0.87% of Iamgold worth $84,835,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Public Employees Retirement System of Ohio increased its holdings in Iamgold by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 220,452 shares of the mining company's stock valued at $2,849,000 after purchasing an additional 1,303 shares in the last quarter. Vanguard Personalized Indexing Management LLC increased its stake in shares of Iamgold by 4.3% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 38,499 shares of the mining company's stock valued at $498,000 after buying an additional 1,598 shares during the period. Tsfg LLC acquired a new stake in shares of Iamgold in the 3rd quarter valued at $26,000. FNY Investment Advisers LLC acquired a new stake in shares of Iamgold in the 4th quarter valued at $38,000. Finally, Creative Planning increased its stake in shares of Iamgold by 18.1% in the 3rd quarter. Creative Planning now owns 15,987 shares of the mining company's stock valued at $207,000 after buying an additional 2,451 shares during the period. 47.08% of the stock is owned by institutional investors and hedge funds.

Iamgold Stock Up 1.8%

NYSE:IAG opened at $19.24 on Friday. Iamgold Corporation has a 12-month low of $6.06 and a 12-month high of $24.87. The company has a quick ratio of 1.02, a current ratio of 1.75 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $11.16 billion, a P/E ratio of 16.73, a P/E/G ratio of 1.29 and a beta of 1.46. The stock's fifty day simple moving average is $20.38 and its 200-day simple moving average is $17.12.

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. Iamgold had a return on equity of 19.26% and a net margin of 23.29%.The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Equities research analysts expect that Iamgold Corporation will post 0.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IAG has been the subject of several research reports. Wall Street Zen raised Iamgold from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 21st. TD Securities reissued a "buy" rating on shares of Iamgold in a research note on Thursday, February 19th. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Iamgold in a research note on Wednesday, February 4th. Zacks Research lowered Iamgold from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 30th. Finally, Weiss Ratings restated a "buy (b)" rating on shares of Iamgold in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $17.75.

Insiders Place Their Bets

In other Iamgold news, Director David Stewart Smith sold 31,000 shares of Iamgold stock in a transaction dated 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 transaction, the director directly owned 20,000 shares in the company, valued at approximately $657,400. The trade was a 60.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.17% of the company's stock.

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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