TD Asset Management Inc Sells 116,302 Shares of Iamgold Corporation $IAG

Key Points

• TD Asset Management Inc sold 116,302 shares of Iamgold Corporation, reducing its stake by 6.3% to own a total of 1,721,124 shares valued at approximately $12.7 million.
• Iamgold reported a net margin of 40.61% and earnings per share of $0.13, which fell short of analysts' expectations of $0.14.
• Analysts have mixed sentiments on Iamgold, with ratings ranging from "Strong Buy" to "Hold," and a consensus price target of $12.85 per share.

TD Asset Management Inc decreased its stake in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 6.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,721,124 shares of the mining company's stock after selling 116,302 shares during the period. TD Asset Management Inc owned 0.30% of Iamgold worth $12,651,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in IAG. T. Rowe Price Investment Management Inc. bought a new stake in Iamgold in the first quarter worth about $45,911,000. Nuveen LLC bought a new stake in shares of Iamgold in the first quarter valued at approximately $20,620,000. Anson Funds Management LP raised its position in shares of Iamgold by 2,100.0% in the first quarter. Anson Funds Management LP now owns 3,300,000 shares of the mining company's stock valued at $20,598,000 after purchasing an additional 3,150,000 shares during the period. Ninety One UK Ltd raised its position in shares of Iamgold by 127.7% in the second quarter. Ninety One UK Ltd now owns 5,347,405 shares of the mining company's stock valued at $39,303,000 after purchasing an additional 2,998,882 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Iamgold by 19.0% in the first quarter. American Century Companies Inc. now owns 12,092,101 shares of the mining company's stock valued at $75,489,000 after purchasing an additional 1,929,787 shares during the period. Institutional investors own 47.08% of the company's stock.

Iamgold Price Performance

IAG stock opened at $13.39 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.47 and a quick ratio of 0.76. Iamgold Corporation has a one year low of $4.89 and a one year high of $14.67. The stock has a market cap of $7.70 billion, a PE ratio of 9.63, a P/E/G ratio of 0.47 and a beta of 1.24. The firm has a 50 day simple moving average of $10.88 and a two-hundred day simple moving average of $8.39.

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Royal Bank Of Canada raised shares of Iamgold from a "sector perform" rating to an "outperform" rating and boosted their price target for the company from $9.00 to $14.00 in a research report on Wednesday, September 10th. Zacks Research lowered shares of Iamgold from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. CIBC boosted their price target on shares of Iamgold from $10.40 to $19.00 and gave the company an "outperformer" rating in a research report on Friday, October 10th. National Bankshares reissued an "outperform" rating on shares of Iamgold in a research report on Tuesday, June 24th. Finally, Raymond James Financial boosted their price target on shares of Iamgold from $9.00 to $13.00 and gave the company a "market perform" rating in a research report on Friday, October 10th. Two analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Iamgold presently has a consensus rating of "Moderate Buy" and an average price target of $12.85.

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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