IAMGOLD Co. (NYSE:IAG) Position Decreased by Donald Smith & CO. Inc.

Donald Smith & CO. Inc. lessened its holdings in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 3.3% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,890,545 shares of the mining company’s stock after selling 1,186,723 shares during the period. IAMGOLD makes up approximately 3.3% of Donald Smith & CO. Inc.’s portfolio, making the stock its 9th biggest holding. Donald Smith & CO. Inc. owned 6.13% of IAMGOLD worth $130,840,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Virtu Financial LLC boosted its stake in shares of IAMGOLD by 1,034.3% in the 1st quarter. Virtu Financial LLC now owns 339,792 shares of the mining company’s stock worth $1,132,000 after buying an additional 309,836 shares during the last quarter. Norges Bank purchased a new position in shares of IAMGOLD in the 4th quarter worth approximately $8,642,000. P Schoenfeld Asset Management LP lifted its stake in IAMGOLD by 11.1% in the fourth quarter. P Schoenfeld Asset Management LP now owns 8,234,284 shares of the mining company’s stock valued at $20,833,000 after purchasing an additional 822,149 shares during the last quarter. Helikon Investments Ltd lifted its stake in IAMGOLD by 250.5% in the first quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock valued at $109,429,000 after purchasing an additional 23,485,183 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in IAMGOLD in the first quarter valued at approximately $389,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on IAG shares. CIBC upped their price objective on IAMGOLD from $4.90 to $5.40 and gave the company a “neutral” rating in a research note on Monday, August 12th. Scotiabank boosted their target price 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. BMO Capital Markets reissued an “outperform” rating and set a $5.00 target price on shares of IAMGOLD in a report on Thursday, June 6th. Finally, StockNews.com raised shares of IAMGOLD from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. 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. According to data from MarketBeat.com, IAMGOLD has an average rating of “Hold” and an average price target of $4.73.

IAMGOLD Trading Up 1.3 %

IAMGOLD stock opened at $5.42 on Monday. The stock has a market cap of $3.09 billion, a P/E ratio of 19.36 and a beta of 1.58. IAMGOLD Co. has a fifty-two week low of $1.99 and a fifty-two week high of $5.49. The firm’s fifty day moving average price is $4.52 and its 200-day moving average price is $3.94. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.90 and a current ratio of 1.34.

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

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.