Donald Smith & CO. Inc. lessened its stake in Iamgold Corporation (NYSE:IAG – Free Report) (TSE:IMG) by 20.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,630,207 shares of the mining company’s stock after selling 5,023,444 shares during the quarter. Iamgold comprises about 6.1% of Donald Smith & CO. Inc.’s holdings, making the stock its 2nd largest holding. Donald Smith & CO. Inc. owned approximately 3.32% of Iamgold worth $323,702,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rathbones Group PLC boosted its stake in shares of Iamgold by 1,037,042.8% during the 4th quarter. Rathbones Group PLC now owns 418,901,982 shares of the mining company’s stock valued at $6,907,694,000 after buying an additional 418,861,592 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Iamgold by 35.7% during the 3rd quarter. Van ECK Associates Corp now owns 51,992,067 shares of the mining company’s stock valued at $672,253,000 after buying an additional 13,691,148 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Iamgold by 4.7% during the 4th quarter. Vanguard Group Inc. now owns 23,836,156 shares of the mining company’s stock valued at $393,328,000 after buying an additional 1,068,465 shares during the last quarter. Bank of America Corp DE boosted its stake in shares of Iamgold by 16.4% during the 3rd quarter. Bank of America Corp DE now owns 11,194,505 shares of the mining company’s stock valued at $144,745,000 after buying an additional 1,581,064 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of Iamgold by 46.9% during the 3rd quarter. Mackenzie Financial Corp now owns 11,181,693 shares of the mining company’s stock valued at $144,430,000 after buying an additional 3,567,399 shares during the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.
Iamgold Stock Performance
IAG stock opened at $14.82 on Thursday. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. The firm has a market cap of $8.56 billion, a P/E ratio of 8.61, a P/E/G ratio of 0.74 and a beta of 1.25. Iamgold Corporation has a 12-month low of $6.69 and a 12-month high of $24.87. The stock’s 50 day simple moving average is $17.79 and its 200 day simple moving average is $18.27.
Analysts Set New Price Targets
Several equities analysts have recently commented on the company. Wall Street Zen upgraded Iamgold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Weiss Ratings cut Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday. Zacks Research cut Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Scotiabank increased their target price on Iamgold to $25.00 and gave the company a “sector perform” rating in a research note on Wednesday, February 25th. Finally, TD Securities reiterated a “buy” rating on shares of Iamgold in a research note on Thursday, February 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $17.75.
About Iamgold
IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.
The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.
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