Iamgold Corporation (NYSE:IAG) Shares Sold by TD Asset Management Inc

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

Several other hedge funds have also modified their holdings of the company. Donald Smith & CO. Inc. boosted its stake in shares of Iamgold by 0.7% during the 4th quarter. Donald Smith & CO. Inc. now owns 31,233,874 shares of the mining company's stock worth $161,167,000 after acquiring an additional 216,751 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Iamgold by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 21,232,871 shares of the mining company's stock worth $109,741,000 after acquiring an additional 321,458 shares in the last quarter. Millennium Management LLC lifted its stake in Iamgold by 88.4% in the 4th quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company's stock valued at $53,307,000 after buying an additional 4,846,254 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Iamgold by 21.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 9,267,628 shares of the mining company's stock valued at $47,818,000 after buying an additional 1,637,158 shares in the last quarter. Finally, Invesco Ltd. lifted its stake in Iamgold by 41.6% in the 4th quarter. Invesco Ltd. now owns 7,139,935 shares of the mining company's stock valued at $36,842,000 after buying an additional 2,098,215 shares in the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

Iamgold Trading Up 1.3%

Shares of NYSE IAG traded up $0.09 during midday trading on Friday, reaching $6.85. 13,175,042 shares of the stock were exchanged, compared to its average volume of 12,154,517. The company has a 50 day simple moving average of $7.20 and a 200 day simple moving average of $6.62. The stock has a market capitalization of $3.94 billion, a P/E ratio of 4.86, a PEG ratio of 0.21 and a beta of 1.08. The company has a debt-to-equity ratio of 0.29, a quick ratio of 0.83 and a current ratio of 1.41. Iamgold Corporation has a twelve month low of $3.44 and a twelve month high of $8.38.

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

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. CIBC reaffirmed an "outperform" rating on shares of Iamgold in a research note on Tuesday, July 15th. BMO Capital Markets assumed coverage on shares of Iamgold in a research note on Wednesday, April 16th. They issued an "outperform" rating on the stock. Raymond James Financial raised shares of Iamgold to a "hold" rating and set a $8.00 price target 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. Finally, Scotiabank upped their price target on Iamgold from $7.50 to $7.75 and gave the company a "sector perform" rating in a research report on Monday, May 12th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average 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.