Iamgold Corporation $IAG Shares Sold by Schroder Investment Management Group

Key Points

• Schroder Investment Management trimmed its Iamgold stake by 6% in Q3, selling 236,840 shares and ending the quarter with 3,708,035 shares worth about $47.6 million, while institutional ownership of the stock stands at roughly 47.08% amid other large position changes from CI Investments, Mackenzie and Arrowstreet.
• Insider sale: Director David Stewart Smith sold 31,000 shares on Feb. 27 at an average price of $32.87 (~$1.02M), reducing his holding by 60.78%; insiders collectively own about 0.17% of the company.
• Fundamentals and outlook: Iamgold beat the quarter's EPS estimate ($0.70 vs. $0.55), trades near $22.25 with a market cap around $13.1B, and carries a consensus analyst rating of "Buy" with a $17.75 target.

Schroder Investment Management Group trimmed its holdings in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 6.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,708,035 shares of the mining company's stock after selling 236,840 shares during the quarter. Schroder Investment Management Group owned about 0.64% of Iamgold worth $47,574,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in IAG. CI Investments Inc. bought a new stake in shares of Iamgold in the 3rd quarter worth $96,747,000. Mackenzie Financial Corp boosted its stake in Iamgold by 183.5% during the second quarter. Mackenzie Financial Corp now owns 7,614,294 shares of the mining company's stock valued at $56,118,000 after buying an additional 4,928,077 shares in the last quarter. Candriam S.C.A. acquired a new position in Iamgold during the second quarter worth about $18,354,000. Arrowstreet Capital Limited Partnership raised its position in Iamgold by 12.4% in the second quarter. Arrowstreet Capital Limited Partnership now owns 20,917,319 shares of the mining company's stock worth $154,046,000 after acquiring an additional 2,302,527 shares in the last quarter. Finally, Waratah Capital Advisors Ltd. raised its position in Iamgold by 731.8% in the third quarter. Waratah Capital Advisors Ltd. now owns 2,113,558 shares of the mining company's stock worth $27,328,000 after acquiring an additional 1,859,463 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Iamgold

In related news, Director David Stewart Smith sold 31,000 shares of the stock in a transaction on Friday, February 27th. The stock was 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 in the company, valued at approximately $657,400. This trade represents a 60.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.17% of the company's stock.

Iamgold Stock Up 1.8%

NYSE:IAG opened at $22.25 on Wednesday. The business's fifty day moving average price is $20.12 and its 200 day moving average price is $15.57. The firm has a market capitalization of $13.12 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 1.73 and a beta of 1.33. The company has a current ratio of 1.75, a quick ratio of 1.02 and a debt-to-equity ratio of 0.15. Iamgold Corporation has a 1-year low of $5.17 and a 1-year high of $24.87.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last released its earnings results on Tuesday, February 17th. The mining company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.15. The company had revenue of $1.08 billion for the quarter, compared to analysts' expectations of $1.08 billion. Iamgold had a return on equity of 19.26% and a net margin of 23.29%. On average, sell-side analysts forecast that Iamgold Corporation will post 0.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

IAG has been the subject of several recent research reports. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Iamgold in a research note on Wednesday, February 4th. Zacks Research raised Iamgold from a "hold" rating to a "strong-buy" rating in a report on Friday, February 27th. Scotiabank raised their price objective on Iamgold to $25.00 and gave the stock a "sector perform" rating in a research note on Wednesday, February 25th. Wall Street Zen upgraded 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 research report on Thursday, February 19th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Iamgold currently has a consensus rating of "Buy" and a consensus target price of $17.75.

About Iamgold

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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