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 reduced its holdings in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 16.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 964,038 shares of the mining company's stock after selling 192,590 shares during the quarter. Trexquant Investment LP owned approximately 0.17% of Iamgold worth $6,025,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in IAG. Hsbc Holdings PLC grew its holdings in shares of Iamgold by 17.8% during the first quarter. Hsbc Holdings PLC now owns 19,973 shares of the mining company's stock worth $125,000 after buying an additional 3,020 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Iamgold by 0.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 600,647 shares of the mining company's stock worth $3,099,000 after buying an additional 5,053 shares in the last quarter. Summit Securities Group LLC purchased a new stake in shares of Iamgold during the first quarter worth about $35,000. Harvest Portfolios Group Inc. grew its holdings in shares of Iamgold by 6.7% during the first quarter. Harvest Portfolios Group Inc. now owns 91,349 shares of the mining company's stock worth $570,000 after buying an additional 5,755 shares in the last quarter. Finally, Tudor Investment Corp ET AL grew its holdings in shares of 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 in the last quarter. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IAG has been the subject of a number of recent research reports. National Bankshares reiterated an "outperform" rating on shares of Iamgold in a report on Tuesday, June 24th. Scotiabank boosted their target price on shares of Iamgold from $7.50 to $7.75 and gave the company a "sector perform" rating in a report on Monday, May 12th. Zacks Research downgraded shares of Iamgold from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. CIBC restated an "outperform" rating on shares of Iamgold in a report on Tuesday, July 15th. Finally, Raymond James Financial upgraded shares of Iamgold to a "hold" rating and set a $8.00 target price for the company in a report on Monday, June 30th. 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $8.53.

Iamgold Trading Up 4.8%

IAG stock traded up $0.45 during midday trading on Friday, reaching $9.91. 11,417,199 shares of the company's stock traded hands, compared to its average volume of 10,944,898. The company has a market capitalization of $5.70 billion, a P/E ratio of 7.13, a PEG ratio of 0.31 and a beta of 1.21. 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 fifty-two week low of $4.44 and a fifty-two week high of $9.93. The business has a 50-day moving average price of $7.80 and a two-hundred day moving average price of $7.04.

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

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.