Dimensional Fund Advisors LP Sells 2,969,867 Shares of Iamgold Corporation $IAG

Dimensional Fund Advisors LP decreased its holdings in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 38.2% during the first quarter, HoldingsChannel reports. The firm owned 4,803,137 shares of the mining company’s stock after selling 2,969,867 shares during the period. Dimensional Fund Advisors LP’s holdings in Iamgold were worth $90,327,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Rathbones Group PLC increased its holdings in Iamgold by 1,037,042.8% during the fourth 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 period. FIL Ltd increased its holdings in shares of Iamgold by 124.0% in the 4th quarter. FIL Ltd now owns 36,367,149 shares of the mining company’s stock valued at $600,135,000 after acquiring an additional 20,134,496 shares during the period. Vanguard Group Inc. raised its position in shares of Iamgold by 4.7% in the 4th quarter. Vanguard Group Inc. now owns 23,836,156 shares of the mining company’s stock worth $393,328,000 after acquiring an additional 1,068,465 shares in the last quarter. Bank of America Corp DE lifted 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 worth $144,745,000 after purchasing an additional 1,581,064 shares during the last quarter. Finally, Ninety One UK Ltd boosted its position in Iamgold by 22.3% during the fourth quarter. Ninety One UK Ltd now owns 5,144,604 shares of the mining company’s stock valued at $84,835,000 after purchasing an additional 938,855 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Iamgold Stock Performance

IAG opened at $13.91 on Thursday. The company has a market cap of $7.99 billion, a P/E ratio of 8.09, a price-to-earnings-growth ratio of 0.63 and a beta of 1.30. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.12. The firm’s 50-day moving average price is $15.95 and its 200-day moving average price is $18.19. Iamgold Corporation has a 52-week low of $6.69 and a 52-week high of $24.87.

Iamgold (NYSE:IAG) (TSE:IMG) last released its earnings results on Tuesday, May 5th. The mining company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $955.17 million. Iamgold had a net margin of 29.49% and a return on equity of 26.65%. As a group, equities analysts anticipate that Iamgold Corporation will post 1.98 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Royal Bank Of Canada reduced their target price on shares of Iamgold from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Scotiabank cut their price objective on shares of Iamgold from $25.00 to $22.00 and set a “sector perform” rating on the stock in a research report on Tuesday, July 14th. Wall Street Zen lowered shares of Iamgold from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 25th. Weiss Ratings lowered shares of Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th. Finally, Bank of America decreased their target price on shares of Iamgold from $22.50 to $21.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.00.

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.