TD Asset Management Inc Has $11.47 Million Stake in Iamgold Corporation (NYSE:IAG)

Key Points

• TD Asset Management Inc reduced its holdings in Iamgold Corporation by 22.5%, selling 534,452 shares and now holding 1,837,426 shares valued at approximately $11.47 million.
• Institutional ownership in Iamgold is significant, with hedge funds and other investors controlling 47.08% of the company's stock as various firms have adjusted their stakes recently.
• Iamgold reported an earnings per share (EPS) of $0.10 for the last quarter, matching analysts' expectations, but fell short of revenue estimates with $457.23 million in revenue.

TD Asset Management Inc decreased its position in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 22.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,837,426 shares of the mining company's stock after selling 534,452 shares during the period. TD Asset Management Inc owned 0.32% of Iamgold worth $11,467,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of IAG. Alpha Omega Wealth Management LLC acquired a new stake in Iamgold during the first quarter valued at $75,000. Avantax Advisory Services Inc. purchased a new stake in shares of Iamgold in the 1st quarter valued at approximately $86,000. Ritholtz Wealth Management purchased a new stake in shares of Iamgold in the 1st quarter valued at approximately $94,000. Tudor Investment Corp ET AL grew its holdings in Iamgold by 63.3% during the 4th quarter. Tudor Investment Corp ET AL now owns 18,986 shares of the mining company's stock worth $98,000 after acquiring an additional 7,359 shares in the last quarter. Finally, Bank of Nova Scotia acquired a new position in Iamgold during the 4th quarter worth approximately $101,000. Institutional investors and hedge funds own 47.08% of the company's stock.

Iamgold Price Performance

Shares of IAG stock traded up $0.34 during trading hours on Monday, hitting $7.20. 5,049,995 shares of the company's stock were exchanged, compared to its average volume of 14,190,574. The stock's 50-day moving average is $7.20 and its 200-day moving average is $6.65. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.41 and a quick ratio of 0.83. The stock has a market cap of $4.14 billion, a price-to-earnings ratio of 5.10, a price-to-earnings-growth ratio of 0.21 and a beta of 1.08. Iamgold Corporation has a 52 week low of $3.44 and a 52 week high of $8.38.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last released its earnings results on Tuesday, May 6th. The mining company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. Iamgold had a return on equity of 9.26% and a net margin of 45.42%. The firm had revenue of $457.23 million for the quarter, compared to analyst estimates of $578.70 million. As a group, research analysts forecast that Iamgold Corporation will post 0.67 EPS for the current year.

Analyst Ratings Changes

Several analysts recently commented on the stock. National Bankshares reiterated an "outperform" rating on shares of Iamgold in a research report on Tuesday, June 24th. BMO Capital Markets started coverage on shares of Iamgold in a report on Wednesday, April 16th. They set an "outperform" rating on the stock. Raymond James Financial upgraded shares of Iamgold to a "hold" rating and set a $8.00 price target on the stock in a report on Monday, June 30th. Scotiabank increased their price objective on shares of Iamgold from $7.50 to $7.75 and gave the company a "sector perform" rating in a research report on Monday, May 12th. Finally, CIBC reaffirmed an "outperform" rating on shares of Iamgold in a report on Tuesday, July 15th. Four investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $8.53.

Iamgold 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.