Charles Schwab Investment Management Inc. Sells 199,431 Shares of Iamgold Corporation $IAG

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Iamgold Corporation by 12.6%, selling 199,431 shares to hold a total of 1,385,615 shares, valued at approximately $8.645 million.
• Analysts have mixed ratings on Iamgold, with an average rating of "Moderate Buy" and a consensus target price of $8.53, reflecting differing opinions on the company's future performance.
• Iamgold reported $0.13 earnings per share for the last quarter, missing expectations, while revenue totaled $587.21 million, falling short of estimates by over $76 million.

Charles Schwab Investment Management Inc. trimmed its position in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 12.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,385,615 shares of the mining company's stock after selling 199,431 shares during the period. Charles Schwab Investment Management Inc. owned about 0.24% of Iamgold worth $8,645,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of IAG. Alpha Omega Wealth Management LLC bought a new stake in shares of Iamgold in the first quarter valued at about $75,000. Avantax Advisory Services Inc. bought a new stake in shares of Iamgold in the first quarter valued at about $86,000. Ritholtz Wealth Management bought a new stake in shares of Iamgold in the first quarter valued at about $94,000. Tudor Investment Corp ET AL raised its holdings in shares of Iamgold by 63.3% in the fourth quarter. Tudor Investment Corp ET AL now owns 18,986 shares of the mining company's stock valued at $98,000 after acquiring an additional 7,359 shares in the last quarter. Finally, Golden State Equity Partners bought a new stake in shares of Iamgold in the first quarter valued at about $125,000. Hedge funds and other institutional investors own 47.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Raymond James Financial upgraded Iamgold to a "hold" rating and set a $8.00 target price on the stock in a research note on Monday, June 30th. National Bankshares reiterated an "outperform" rating on shares of Iamgold in a report on Tuesday, June 24th. Scotiabank boosted their target price on shares of Iamgold from $7.50 to $7.75 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Zacks Research downgraded shares of Iamgold from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Finally, CIBC reiterated an "outperform" rating on shares of Iamgold in a report on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $8.53.

Iamgold Price Performance

Shares of NYSE IAG opened at $8.84 on Tuesday. The business's 50 day moving average price is $7.44 and its 200 day moving average price is $6.87. The firm has a market cap of $5.08 billion, a P/E ratio of 6.36, a P/E/G ratio of 0.29 and a beta of 1.08. Iamgold Corporation has a 52 week low of $4.44 and a 52 week high of $8.86. The company has a quick ratio of 0.76, a current ratio of 1.47 and a debt-to-equity ratio of 0.31.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last announced its earnings results on Thursday, August 7th. The mining company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.01). Iamgold had a net margin of 40.61% and a return on equity of 8.54%. The business had revenue of $587.21 million for the quarter, compared to analysts' expectations of $663.21 million. On average, sell-side analysts expect that Iamgold Corporation will post 0.67 earnings per share for the current year.

Iamgold Company Profile

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.

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