Donald Smith & CO. Inc. Sells 5,023,444 Shares of Iamgold Corporation $IAG

Donald Smith & CO. Inc. reduced its position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 20.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,630,207 shares of the mining company’s stock after selling 5,023,444 shares during the period. Iamgold comprises approximately 6.1% of Donald Smith & CO. Inc.’s holdings, making the stock its 2nd largest holding. Donald Smith & CO. Inc.’s holdings in Iamgold were worth $323,702,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in IAG. Rathbones Group PLC increased its position in Iamgold by 1,037,042.8% in the fourth quarter. Rathbones Group PLC now owns 418,901,982 shares of the mining company’s stock worth $6,907,694,000 after buying an additional 418,861,592 shares during the period. Van ECK Associates Corp increased its position in Iamgold by 35.7% in the third quarter. Van ECK Associates Corp now owns 51,992,067 shares of the mining company’s stock worth $672,253,000 after buying an additional 13,691,148 shares during the period. CI Investments Inc. acquired a new stake in Iamgold in the third quarter worth $96,747,000. Mackenzie Financial Corp increased its position in Iamgold by 46.9% in the third quarter. Mackenzie Financial Corp now owns 11,181,693 shares of the mining company’s stock worth $144,430,000 after buying an additional 3,567,399 shares during the period. Finally, Quadrature Capital Ltd increased its position in Iamgold by 4,887.4% in the third quarter. Quadrature Capital Ltd now owns 2,670,421 shares of the mining company’s stock worth $34,534,000 after buying an additional 2,616,878 shares during the period. 47.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

IAG has been the topic of several analyst reports. Zacks Research lowered Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Weiss Ratings lowered Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday. Wall Street Zen raised Iamgold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. TD Securities reaffirmed a “buy” rating on shares of Iamgold in a research report on Thursday, February 19th. Finally, Scotiabank increased their target price on Iamgold to $25.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $17.75.

Iamgold Trading Down 4.0%

NYSE:IAG opened at $14.82 on Thursday. Iamgold Corporation has a 1 year low of $6.69 and a 1 year high of $24.87. The stock has a market cap of $8.56 billion, a price-to-earnings ratio of 8.61, a PEG ratio of 0.74 and a beta of 1.25. The business has a fifty day moving average of $17.79 and a 200-day moving average of $18.27. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.89.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.14. Iamgold had a return on equity of 26.65% and a net margin of 29.49%.The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $955.17 million. Equities analysts predict that Iamgold Corporation will post 2.27 earnings per share for the current year.

Iamgold Company Profile

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.