Key Points
- Director David Stewart Smith sold 31,000 shares of Iamgold on Feb. 27 at an average price of $32.87 for about $1.02 million, reducing his holdings by 60.78% to 20,000 shares (SEC filing).
- Iamgold beat quarterly EPS estimates with $0.70 vs $0.55 expected and reported $1.08B in revenue, the stock was up ~3.3% and opened at $24.61, while analysts hold a consensus "Moderate Buy" with a $17.75 target.
Iamgold Corporation (NYSE:IAG - Get Free Report) (TSE:IMG) Director David Stewart Smith sold 31,000 shares of the firm's 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Iamgold Stock Up 3.3%
Shares of NYSE:IAG opened at $24.61 on Friday. The firm has a market capitalization of $14.51 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 0.28 and a beta of 1.36. Iamgold Corporation has a 1 year low of $5.02 and a 1 year high of $24.66. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.75 and a quick ratio of 1.02. The firm's 50-day moving average is $19.39 and its two-hundred day moving average is $14.78.
Iamgold (NYSE:IAG - Get Free Report) (TSE:IMG) last announced 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 firm had revenue of $1.08 billion during the quarter, compared to analysts' expectations of $1.08 billion. Iamgold had a net margin of 23.29% and a return on equity of 19.26%. Analysts predict that Iamgold Corporation will post 0.67 EPS for the current year.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the business. Tsfg LLC purchased a new stake in shares of Iamgold during the 3rd quarter worth $26,000. Banque Transatlantique SA acquired a new stake in shares of Iamgold in the second quarter valued at about $26,000. Pin Oak Investment Advisors Inc. purchased a new stake in Iamgold during the fourth quarter worth about $30,000. Global Retirement Partners LLC acquired a new position in Iamgold during the fourth quarter worth about $33,000. Finally, FNY Investment Advisers LLC purchased a new position in Iamgold in the fourth quarter valued at about $38,000. Hedge funds and other institutional investors own 47.08% of the company's stock.
Analysts Set New Price Targets
Several research analysts recently commented on IAG shares. Weiss Ratings reissued a "buy (b)" rating on shares of Iamgold in a research note on Thursday, January 22nd. Scotiabank upped their target price on shares of Iamgold to $25.00 and gave the stock a "sector perform" rating in a research note on Wednesday. Wall Street Zen upgraded shares of Iamgold from a "buy" rating to a "strong-buy" rating in a report on Saturday, February 21st. Zacks Research lowered shares of Iamgold from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 20th. Finally, Canadian Imperial Bank of Commerce reiterated an "outperform" rating on shares of Iamgold in a research note on Wednesday, February 4th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Iamgold currently has a consensus rating of "Moderate Buy" and a consensus target price of $17.75.
Read Our Latest Report on Iamgold
About Iamgold
(
Get Free Report)
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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