U S Global Investors Inc. Sells 553,291 Shares of Iamgold Corporation (NYSE:IAG)

U S Global Investors Inc. trimmed its holdings in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 73.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 200,000 shares of the mining company's stock after selling 553,291 shares during the period. U S Global Investors Inc.'s holdings in Iamgold were worth $1,250,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently made changes to their positions in the company. Donald Smith & CO. Inc. lifted its position in shares of Iamgold by 0.7% during the fourth quarter. Donald Smith & CO. Inc. now owns 31,233,874 shares of the mining company's stock valued at $161,167,000 after purchasing an additional 216,751 shares in the last quarter. RCF Management L.L.C. bought a new stake in Iamgold in the fourth quarter worth about $128,174,000. Vanguard Group Inc. raised its position in Iamgold by 1.5% in the fourth 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 during the period. Millennium Management LLC raised its position in Iamgold by 88.4% in the fourth quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company's stock worth $53,307,000 after acquiring an additional 4,846,254 shares during the period. Finally, American Century Companies Inc. raised its position in Iamgold by 25.9% in the fourth quarter. American Century Companies Inc. now owns 10,162,314 shares of the mining company's stock worth $52,499,000 after acquiring an additional 2,092,803 shares during the period. 47.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on IAG shares. National Bank Financial raised shares of Iamgold to a "strong-buy" rating in a research report on Friday, March 21st. Raymond James Financial reiterated a "market perform" rating and issued a $8.00 target price on shares of Iamgold in a research note on Friday, April 4th. BMO Capital Markets started coverage on shares of Iamgold in a research note on Wednesday, April 16th. They issued an "outperform" rating for the company. CIBC lifted their target price on shares of Iamgold from $8.40 to $9.20 and gave the stock an "outperformer" rating in a research note on Thursday, May 8th. Finally, National Bankshares reiterated an "outperform" rating on shares of Iamgold in a research note on Tuesday, June 24th. Four analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $8.29.

Iamgold Price Performance

NYSE:IAG traded down $0.32 during mid-day trading on Friday, hitting $7.07. 17,783,158 shares of the stock traded hands, compared to its average volume of 11,446,861. The business's 50-day moving average price is $7.07 and its 200 day moving average price is $6.33. The company has a market cap of $4.06 billion, a PE ratio of 5.01, a price-to-earnings-growth ratio of 0.36 and a beta of 1.15. Iamgold Corporation has a 12-month low of $3.44 and a 12-month high of $8.38. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.29.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last issued its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. The company had revenue of $457.23 million during the quarter, compared to analysts' expectations of $578.70 million. Iamgold had a net margin of 45.42% and a return on equity of 9.26%. On average, analysts expect 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.