Triasima Portfolio Management inc. Has $10.26 Million Stock Holdings in Iamgold Corporation $IAG

Key Points

• Triasima Portfolio Management cut its Iamgold position by 10.5% in Q4 to 620,937 shares worth about $10.26 million, representing ~0.11% of Iamgold and 1.5% of Triasima’s portfolio (its 20th largest holding).
• Insider sale: Director David Stewart Smith sold 31,000 Iamgold shares on Feb. 27 for roughly $1.02 million, trimming his stake by 60.78% to 20,000 shares; company insiders hold about 0.17% of the stock.
• Fundamentals and sentiment: Iamgold beat Q4 EPS estimates ($0.70 vs. $0.55) on ~$1.08B revenue, has a market cap of ~$9.62B, and carries an average analyst rating of "Moderate Buy" with a consensus target of $17.75; institutional ownership is ~47%, led by Vanguard’s ~23.84M-share stake.

Triasima Portfolio Management inc. cut its position in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 10.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 620,937 shares of the mining company's stock after selling 73,113 shares during the quarter. Iamgold accounts for 1.5% of Triasima Portfolio Management inc.'s portfolio, making the stock its 20th biggest holding. Triasima Portfolio Management inc. owned approximately 0.11% of Iamgold worth $10,260,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. PKO Investment Management Joint Stock Co grew its position in Iamgold by 42.1% during the fourth quarter. PKO Investment Management Joint Stock Co now owns 270,000 shares of the mining company's stock worth $4,464,000 after buying an additional 80,000 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in Iamgold by 137.6% during the fourth quarter. Oppenheimer & Co. Inc. now owns 28,710 shares of the mining company's stock worth $473,000 after buying an additional 16,625 shares in the last quarter. Precision Wealth Strategies LLC acquired a new stake in Iamgold during the fourth quarter worth about $202,000. Pictet Asset Management Holding SA grew its position in 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. Finally, Vanguard Group Inc. grew its position in Iamgold by 4.7% during the fourth quarter. Vanguard Group Inc. now owns 23,836,156 shares of the mining company's stock worth $393,328,000 after buying an additional 1,068,465 shares in the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director David Stewart Smith sold 31,000 shares of Iamgold stock in a transaction that occurred on 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 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. Company insiders own 0.17% of the company's stock.

Iamgold Stock Down 0.0%

NYSE IAG opened at $16.58 on Monday. The company has a current ratio of 1.75, a quick ratio of 1.02 and a debt-to-equity ratio of 0.15. The stock's 50 day moving average is $19.58 and its two-hundred day moving average is $17.42. The company has a market capitalization of $9.62 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 0.85 and a beta of 1.26. Iamgold Corporation has a 1-year low of $6.06 and a 1-year high of $24.87.

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

Wall Street Analyst Weigh In

IAG has been the topic of a number of recent research reports. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Iamgold in a research report on Wednesday, February 4th. Scotiabank lifted their target price on Iamgold to $25.00 and gave the stock a "sector perform" rating in a research report on Wednesday, February 25th. Weiss Ratings reaffirmed 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, TD Securities reaffirmed a "buy" rating on shares of Iamgold in a report on Thursday, February 19th. One investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price 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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