Iamgold Corporation $IAG Shares Sold by Trexquant Investment LP

Key Points

• Trexquant Investment LP reduced its holdings in Iamgold Corporation by 16.7%, owning 964,038 shares worth approximately $6.03 million.
• In recent quarters, several institutional investors, including T. Rowe Price and Millennium Management, have significantly increased their stakes in Iamgold, highlighting growing interest in the company.
• Iamgold's stock performance has been mixed, with shares recently trading up 4.2%, while the company reported a miss on earnings with EPS of $0.13 against expectations of $0.14.

Trexquant Investment LP lowered its holdings in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 16.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 964,038 shares of the mining company's stock after selling 192,590 shares during the period. Trexquant Investment LP owned about 0.17% of Iamgold worth $6,025,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new position in Iamgold during the first quarter worth approximately $35,000. Alpha Omega Wealth Management LLC acquired a new position in Iamgold during the first quarter worth approximately $75,000. Avantax Advisory Services Inc. purchased a new stake in Iamgold during the first quarter worth approximately $86,000. Ritholtz Wealth Management purchased a new stake in Iamgold during the first quarter worth approximately $94,000. Finally, Tudor Investment Corp ET AL grew its stake in Iamgold by 63.3% during the fourth quarter. Tudor Investment Corp ET AL now owns 18,986 shares of the mining company's stock worth $98,000 after buying an additional 7,359 shares during the period. Institutional investors and hedge funds own 47.08% of the company's stock.

Iamgold Stock Up 4.8%

Shares of IAG stock traded up $0.45 on Friday, hitting $9.91. The stock had a trading volume of 11,417,199 shares, compared to its average volume of 10,944,898. The firm has a market capitalization of $5.70 billion, a price-to-earnings ratio of 7.13, a P/E/G ratio of 0.32 and a beta of 1.21. The stock's 50 day moving average is $7.80 and its 200-day moving average is $7.05. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.76 and a current ratio of 1.47. Iamgold Corporation has a 52-week low of $4.44 and a 52-week high of $9.93.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last posted its quarterly earnings data on Thursday, August 7th. The mining company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.01). The company had revenue of $587.21 million for the quarter, compared to the consensus estimate of $663.21 million. Iamgold had a net margin of 40.61% and a return on equity of 8.54%. As a group, research analysts expect that Iamgold Corporation will post 0.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on IAG. Scotiabank boosted their price objective on shares of Iamgold from $7.50 to $7.75 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. National Bankshares reiterated an "outperform" rating on shares of Iamgold in a research note on Tuesday, June 24th. Raymond James Financial upgraded shares of Iamgold to a "hold" rating and set a $8.00 price objective for the company in a research note on Monday, June 30th. Zacks Research downgraded shares of Iamgold from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 15th. Finally, CIBC reiterated an "outperform" rating on shares of Iamgold in a research note on Tuesday, July 15th. Two equities research analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $8.53.

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.