Iamgold Corporation $IAG Stock Position Lifted by U S Global Investors Inc.

U S Global Investors Inc. boosted its stake in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 15.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 575,000 shares of the mining company’s stock after acquiring an additional 75,000 shares during the period. Iamgold makes up about 1.0% of U S Global Investors Inc.’s portfolio, making the stock its 25th largest holding. U S Global Investors Inc.’s holdings in Iamgold were worth $9,482,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in IAG. Royal Bank of Canada grew its position in Iamgold by 14.0% during the first quarter. Royal Bank of Canada now owns 691,322 shares of the mining company’s stock valued at $4,321,000 after purchasing an additional 84,939 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Iamgold by 6.3% in the first quarter. Goldman Sachs Group Inc. now owns 2,420,263 shares of the mining company’s stock worth $15,127,000 after acquiring an additional 144,160 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Iamgold by 67.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,005,292 shares of the mining company’s stock worth $6,283,000 after acquiring an additional 404,645 shares in the last quarter. JPMorgan Chase & Co. grew its position in Iamgold by 64.1% in the second quarter. JPMorgan Chase & Co. now owns 228,257 shares of the mining company’s stock worth $1,678,000 after acquiring an additional 89,197 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in Iamgold by 16.9% in the second quarter. The Manufacturers Life Insurance Company now owns 532,137 shares of the mining company’s stock worth $3,899,000 after acquiring an additional 77,016 shares in the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

Iamgold Price Performance

NYSE IAG opened at $17.09 on Friday. 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 company has a fifty day simple moving average of $20.06 and a 200 day simple moving average of $17.24. The company has a market cap of $9.92 billion, a P/E ratio of 14.86, a P/E/G ratio of 1.17 and a beta of 1.46. Iamgold Corporation has a 1 year low of $6.06 and a 1 year high of $24.87.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data 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. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. Iamgold had a net margin of 23.29% and a return on equity of 19.26%. On average, sell-side analysts predict that Iamgold Corporation will post 2.16 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on IAG shares. Zacks Research downgraded shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Scotiabank boosted their target price on shares of Iamgold to $25.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 25th. Canadian Imperial Bank of Commerce reissued an “outperform” rating on shares of Iamgold in a research report on Wednesday, February 4th. TD Securities reissued a “buy” rating on shares of Iamgold in a research report on Thursday, February 19th. Finally, Wall Street Zen raised shares of Iamgold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Iamgold presently has a consensus rating of “Moderate Buy” and a consensus price target of $17.75.

Insider Activity

In related news, Director David Stewart Smith sold 31,000 shares of the company’s stock in a transaction on Friday, February 27th. The shares were sold at an average price of $32.87, for a total transaction of $1,018,970.00. Following the completion of the sale, the director directly owned 20,000 shares of the company’s stock, valued at approximately $657,400. This represents a 60.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

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.