Russell Investments Group Ltd. lowered its stake in Iamgold Corp (NYSE:IAG) (TSE:IMG) by 10.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 383,496 shares of the mining company’s stock after selling 46,471 shares during the quarter. Russell Investments Group Ltd.’s holdings in Iamgold were worth $1,394,000 at the end of the most recent reporting period.
Several other large investors also recently added to or reduced their stakes in IAG. Bank of New York Mellon Corp increased its stake in shares of Iamgold by 69.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,959,287 shares of the mining company’s stock valued at $46,243,000 after acquiring an additional 3,269,020 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of Iamgold by 4.7% in the 2nd quarter. Van ECK Associates Corp now owns 64,001,511 shares of the mining company’s stock valued at $371,849,000 after acquiring an additional 2,862,271 shares in the last quarter. FMR LLC increased its stake in shares of Iamgold by 65.2% in the 2nd quarter. FMR LLC now owns 3,032,450 shares of the mining company’s stock valued at $17,669,000 after acquiring an additional 1,197,000 shares in the last quarter. Capital Fund Management S.A. increased its stake in shares of Iamgold by 41.7% in the 2nd quarter. Capital Fund Management S.A. now owns 3,074,655 shares of the mining company’s stock valued at $17,864,000 after acquiring an additional 904,111 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in shares of Iamgold by 205.1% in the 2nd quarter. Schroder Investment Management Group now owns 623,110 shares of the mining company’s stock valued at $4,533,000 after acquiring an additional 418,900 shares in the last quarter. Institutional investors own 55.54% of the company’s stock.
Several research firms have recently weighed in on IAG. ValuEngine lowered shares of Iamgold from a “hold” rating to a “sell” rating in a research note on Monday, November 12th. TheStreet lowered shares of Iamgold from a “c-” rating to a “d+” rating in a research note on Wednesday, October 31st. Royal Bank of Canada set a $6.00 price target on shares of Iamgold and gave the company a “hold” rating in a research note on Thursday, October 11th. Zacks Investment Research lowered shares of Iamgold from a “hold” rating to a “sell” rating in a research note on Wednesday, October 10th. Finally, TD Securities restated a “buy” rating on shares of Iamgold in a research note on Thursday, November 8th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $6.68.
Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Tuesday, November 6th. The mining company reported ($0.01) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.01). The business had revenue of $244.80 million during the quarter, compared to analyst estimates of $266.17 million. Iamgold had a negative net margin of 0.98% and a positive return on equity of 1.14%. Iamgold’s quarterly revenue was down 8.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.07 EPS. Analysts forecast that Iamgold Corp will post 0.11 EPS for the current year.
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IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. It also explores for copper and silver. The company owns interests in the Rosebel gold mine located in north eastern Suriname, South America; the Essakane gold mine in north-eastern Burkina Faso, West Africa; the Westwood gold mine in southwestern Québec, Canada; and the Sadiola Gold Mine located in southwest Mali, West Africa.
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