Iamgold Corporation (IAG) Shares Sold by Investec Asset Management LTD
Investec Asset Management LTD cut its stake in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 36.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,272,150 shares of the mining company’s stock after selling 1,286,622 shares during the period. Investec Asset Management LTD owned approximately 0.49% of Iamgold worth $13,862,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Trexquant Investment LP purchased a new position in Iamgold in the third quarter valued at about $177,000. Legal & General Group Plc grew its position in shares of Iamgold by 4.5% in the third quarter. Legal & General Group Plc now owns 366,157 shares of the mining company’s stock valued at $2,309,000 after purchasing an additional 15,876 shares during the last quarter. Nordea Investment Management AB acquired a new stake in shares of Iamgold in the third quarter valued at approximately $3,425,000. Van ECK Associates Corp grew its position in shares of Iamgold by 1.6% in the third quarter. Van ECK Associates Corp now owns 56,732,518 shares of the mining company’s stock valued at $346,069,000 after purchasing an additional 880,887 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Iamgold in the third quarter valued at approximately $457,000. 56.08% of the stock is owned by institutional investors.
Several research firms have recently commented on IAG. Zacks Investment Research lowered shares of Iamgold from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. TheStreet upgraded shares of Iamgold from a “c-” rating to a “b” rating in a research report on Thursday, August 17th. ValuEngine upgraded shares of Iamgold from a “sell” rating to a “hold” rating in a research report on Thursday, August 17th. Royal Bank Of Canada set a $8.00 price target on shares of Iamgold and gave the company a “hold” rating in a research report on Wednesday, October 18th. Finally, BidaskClub upgraded shares of Iamgold from a “hold” rating to a “buy” rating in a research report on Saturday, August 19th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Iamgold currently has an average rating of “Hold” and an average target price of $7.10.
Shares of Iamgold Corporation (NYSE:IAG) traded down $0.06 during midday trading on Friday, reaching $5.37. 4,135,914 shares of the company were exchanged, compared to its average volume of 6,964,424. Iamgold Corporation has a 1 year low of $3.16 and a 1 year high of $7.25. The firm has a market capitalization of $2,510.00, a price-to-earnings ratio of 56.40, a P/E/G ratio of 22.12 and a beta of -0.53. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.85 and a current ratio of 4.78.
Iamgold (NYSE:IAG) (TSE:IMG) last announced its earnings results on Tuesday, November 7th. The mining company reported $0.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.05. Iamgold had a net margin of 48.66% and a return on equity of 1.81%. The firm had revenue of $268.80 million for the quarter, compared to analyst estimates of $268.62 million. During the same quarter last year, the business earned $0.05 earnings per share. Iamgold’s revenue was down 4.8% compared to the same quarter last year. analysts anticipate that Iamgold Corporation will post 0.09 EPS for the current fiscal year.
IAMGOLD Corporation (IAMGOLD) is engaged primarily in the exploration for, and the development and production of, mineral resource properties throughout the world. Through its holdings, IAMGOLD has interests in various operations, exploration and development properties. IAMGOLD is a mid-tier mining company with approximately four operating gold mines on over three continents.
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