Dimensional Fund Advisors LP lowered its stake in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 38.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,803,137 shares of the mining company's stock after selling 2,969,867 shares during the quarter. Dimensional Fund Advisors LP owned about 0.83% of Iamgold worth $90,327,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC increased its holdings in shares of Iamgold by 59.4% in the first quarter. Parallel Advisors LLC now owns 5,730 shares of the mining company's stock worth $108,000 after purchasing an additional 2,135 shares during the last quarter. Swiss National Bank grew its holdings in Iamgold by 3.9% during the 1st quarter. Swiss National Bank now owns 1,183,000 shares of the mining company's stock valued at $22,214,000 after buying an additional 44,000 shares in the last quarter. Precision Wealth Strategies LLC grew its holdings in Iamgold by 31.0% during the 1st quarter. Precision Wealth Strategies LLC now owns 16,024 shares of the mining company's stock valued at $302,000 after buying an additional 3,792 shares in the last quarter. Crescent Grove Advisors LLC bought a new stake in Iamgold in the 1st quarter worth approximately $996,000. Finally, Allspring Global Investments Holdings LLC increased its stake in Iamgold by 2.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,018,000 shares of the mining company's stock worth $75,574,000 after acquiring an additional 100,700 shares during the last quarter. Institutional investors own 47.08% of the company's stock.
Iamgold Trading Down 2.4%
NYSE IAG opened at $13.91 on Thursday. The stock has a market cap of $7.99 billion, a PE ratio of 8.09, a PEG ratio of 0.63 and a beta of 1.30. Iamgold Corporation has a 12 month low of $6.69 and a 12 month high of $24.87. The company's 50-day moving average price is $15.95 and its 200-day moving average price is $18.19. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12.
Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last released its quarterly earnings data on Tuesday, May 5th. The mining company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.52 by $0.14. The company had revenue of $1.01 billion during the quarter, compared to analysts' expectations of $955.17 million. Iamgold had a net margin of 29.49% and a return on equity of 26.65%. Equities research analysts forecast that Iamgold Corporation will post 1.98 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of research analysts recently weighed in on the stock. Royal Bank Of Canada cut their target price on shares of Iamgold from $22.00 to $20.00 and set an "outperform" rating for the company in a report on Thursday, July 9th. Wall Street Zen cut shares of Iamgold from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 25th. Scotiabank decreased their target price on shares of Iamgold from $25.00 to $22.00 and set a "sector perform" rating on the stock in a research report on Tuesday, July 14th. Weiss Ratings lowered Iamgold from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, June 9th. Finally, Bank of America decreased their price objective on Iamgold from $22.50 to $21.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Iamgold has a consensus rating of "Moderate Buy" and an average target price of $19.00.
Get Our Latest Stock Analysis on IAG
Iamgold Company Profile
(
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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