Iamgold Corp. (IAG) Shares Sold by Shell Asset Management Co.
Shell Asset Management Co. cut its position in shares of Iamgold Corp. (NYSE:IAG) by 11.3% during the second quarter, Holdings Channel reports. The fund owned 37,601 shares of the mining company’s stock after selling 4,800 shares during the period. Shell Asset Management Co.’s holdings in Iamgold Corp. were worth $201,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. CIBC World Markets Inc. raised its position in shares of Iamgold Corp. by 17.3% in the second quarter. CIBC World Markets Inc. now owns 310,164 shares of the mining company’s stock worth $1,284,000 after buying an additional 45,821 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Iamgold Corp. during the second quarter worth $7,127,000. NEXT Financial Group Inc bought a new position in shares of Iamgold Corp. during the second quarter worth $164,000. BNP Paribas Arbitrage SA raised its position in shares of Iamgold Corp. by 38.3% in the second quarter. BNP Paribas Arbitrage SA now owns 217,253 shares of the mining company’s stock worth $963,000 after buying an additional 60,188 shares during the last quarter. Finally, AMP Capital Investors Ltd raised its position in shares of Iamgold Corp. by 52.1% in the first quarter. AMP Capital Investors Ltd now owns 533,975 shares of the mining company’s stock worth $1,177,000 after buying an additional 182,795 shares during the last quarter. 48.37% of the stock is currently owned by hedge funds and other institutional investors.
Iamgold Corp. (NYSE:IAG) traded up 2.37% during trading on Thursday, hitting $3.46. 10,650,460 shares of the company’s stock traded hands. The company’s 50 day moving average price is $3.94 and its 200 day moving average price is $3.90. The company’s market cap is $1.40 billion. Iamgold Corp. has a 52-week low of $1.15 and a 52-week high of $5.87.
Iamgold Corp. (NYSE:IAG) last issued its earnings results on Wednesday, August 3rd. The mining company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. Iamgold Corp. had a negative return on equity of 5.16% and a negative net margin of 80.04%. The company had revenue of $232.50 million for the quarter, compared to analysts’ expectations of $245.68 million. During the same period last year, the business earned ($0.08) EPS. Iamgold Corp.’s quarterly revenue was up 2.6% compared to the same quarter last year. Analysts expect that Iamgold Corp. will post $0.04 earnings per share for the current year.
IAG has been the topic of a number of recent research reports. Canaccord Genuity reiterated a “hold” rating on shares of Iamgold Corp. in a report on Wednesday, June 15th. Paradigm Capital upgraded shares of Iamgold Corp. from a “hold” rating to a “buy” rating in a report on Monday, July 18th. CIBC upgraded shares of Iamgold Corp. from a “sector underperform” rating to a “sector perform” rating in a report on Monday, June 27th. Credit Suisse Group AG initiated coverage on shares of Iamgold Corp. in a report on Thursday, August 18th. They issued a “neutral” rating and a $5.25 price objective on the stock. Finally, Zacks Investment Research downgraded shares of Iamgold Corp. from a “buy” rating to a “hold” rating in a report on Tuesday. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $3.61.
About Iamgold Corp.
IAMGOLD Corporation (IAMGOLD) is engaged in the exploration, development and production of mineral resource properties across the world. Through its holdings, IAMGOLD has interests in various operations and exploration properties, as well as various royalty interests on mineral resource properties. All gold produced by IAMGOLD is in the form of dore bars, which is sold to gold refineries in North America and Europe.
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