PKO Investment Management Joint Stock Co Buys 80,000 Shares of Iamgold Corporation $IAG

Key Points

• PKO Investment Management boosted its stake in Iamgold by 42.1% in Q4, buying 80,000 shares to hold 270,000 shares worth about $4,464,000.
• Director David Stewart Smith sold 31,000 shares at an average of $32.87 (≈$1,018,970), cutting his position to 20,000 shares — a 60.78% reduction; insiders now own about 0.17% of the stock.
• Iamgold beat EPS estimates (reported $0.70 vs. $0.55 expected), has a market cap of ~$9.62 billion, and carries a consensus analyst rating of “Moderate Buy” with a price target of $17.75.

PKO Investment Management Joint Stock Co increased its stake in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 42.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 270,000 shares of the mining company's stock after purchasing an additional 80,000 shares during the period. PKO Investment Management Joint Stock Co's holdings in Iamgold were worth $4,464,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. lifted its holdings in shares of Iamgold by 137.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 28,710 shares of the mining company's stock valued at $473,000 after purchasing an additional 16,625 shares in the last quarter. Precision Wealth Strategies LLC bought a new position in shares of Iamgold during the fourth quarter worth about $202,000. Pictet Asset Management Holding SA grew its holdings in shares of Iamgold by 7.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 106,882 shares of the mining company's stock worth $1,766,000 after buying an additional 7,421 shares in the last quarter. Vanguard Group Inc. raised its position in Iamgold by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 23,836,156 shares of the mining company's stock valued at $393,328,000 after buying an additional 1,068,465 shares during the last quarter. Finally, U S Global Investors Inc. raised its position in Iamgold by 15.0% in the 4th quarter. U S Global Investors Inc. now owns 575,000 shares of the mining company's stock valued at $9,482,000 after buying an additional 75,000 shares during the last quarter. Institutional investors own 47.08% of the company's stock.

Insider Activity at Iamgold

In other news, Director David Stewart Smith sold 31,000 shares of Iamgold stock in a transaction dated Friday, February 27th. The shares were 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 owned 20,000 shares of the company's stock, valued at $657,400. This trade represents a 60.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.17% of the stock is currently owned by company insiders.

Iamgold Trading Down 1.7%

Shares of Iamgold stock opened at $16.58 on Friday. The stock has a market cap of $9.62 billion, a P/E ratio of 14.42, a P/E/G ratio of 1.11 and a beta of 1.26. 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 Corporation has a 12-month low of $6.06 and a 12-month high of $24.87. The business's 50 day moving average is $19.58 and its 200-day moving average is $17.40.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last released its earnings results on Tuesday, February 17th. The mining company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.15. Iamgold had a net margin of 23.29% and a return on equity of 19.26%. The business had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.08 billion. Equities research analysts predict that Iamgold Corporation will post 2.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on IAG. Wall Street Zen raised shares of Iamgold from a "buy" rating to a "strong-buy" rating in a research note on Saturday, February 21st. Scotiabank boosted their price objective on shares of Iamgold to $25.00 and gave the stock a "sector perform" rating in a research report on Wednesday, February 25th. Zacks Research cut shares of Iamgold from a "strong-buy" rating to a "hold" rating in a report on Monday, March 30th. TD Securities reaffirmed a "buy" rating on shares of Iamgold in a research report on Thursday, February 19th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Iamgold in a research note on Tuesday, April 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $17.75.

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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