IAMGOLD Co. (NYSE:IAG) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its stake in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 4.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,975,800 shares of the mining company’s stock after selling 617,800 shares during the quarter. Renaissance Technologies LLC owned approximately 2.45% of IAMGOLD worth $52,409,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of IAMGOLD during the fourth quarter valued at $29,000. Vanguard Personalized Indexing Management LLC bought a new position in IAMGOLD in the 4th quarter worth about $33,000. TIAA Trust National Association bought a new position in IAMGOLD in the 2nd quarter worth about $38,000. Cetera Advisors LLC bought a new stake in shares of IAMGOLD during the first quarter valued at approximately $50,000. Finally, WINTON GROUP Ltd acquired a new position in shares of IAMGOLD during the second quarter worth approximately $52,000. 47.08% of the stock is currently owned by institutional investors.

IAMGOLD Stock Down 1.2 %

NYSE IAG opened at $5.40 on Wednesday. The company has a market capitalization of $3.07 billion, a P/E ratio of 19.27 and a beta of 1.58. IAMGOLD Co. has a 12 month low of $1.99 and a 12 month high of $5.56. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.34 and a quick ratio of 0.90. The company’s 50 day simple moving average is $4.57 and its 200 day simple moving average is $3.98.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.08. The business had revenue of $385.30 million for the quarter. IAMGOLD had a return on equity of 6.70% and a net margin of 10.36%. During the same quarter in the previous year, the firm earned ($0.01) earnings per share. Equities research analysts expect that IAMGOLD Co. will post 0.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on IAG shares. BMO Capital Markets reiterated an “outperform” rating and set a $5.00 price target on shares of IAMGOLD in a research report on Thursday, June 6th. StockNews.com raised shares of IAMGOLD from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th. CIBC boosted their price target on shares of IAMGOLD from $4.90 to $5.40 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Finally, Scotiabank increased their price objective on shares of IAMGOLD from $4.75 to $5.50 and gave the company a “sector perform” rating in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, IAMGOLD presently has an average rating of “Hold” and an average target price of $4.73.

IAMGOLD Company Profile

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.