IAMGOLD Co. (NYSE:IAG) Position Decreased by LGT Group Foundation

LGT Group Foundation reduced its holdings in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 12.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,300 shares of the mining company’s stock after selling 5,050 shares during the quarter. LGT Group Foundation’s holdings in IAMGOLD were worth $92,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Van ECK Associates Corp lifted its position in shares of IAMGOLD by 2.9% in the 4th quarter. Van ECK Associates Corp now owns 48,117,785 shares of the mining company’s stock valued at $121,736,000 after acquiring an additional 1,368,491 shares in the last quarter. Donald Smith & CO. Inc. lifted its stake in IAMGOLD by 13.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 35,778,309 shares of the mining company’s stock worth $90,519,000 after acquiring an additional 4,358,444 shares in the last quarter. RWA Wealth Partners LLC purchased a new stake in IAMGOLD in the 4th quarter worth about $53,000. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in IAMGOLD during the 4th quarter worth about $10,972,000. Finally, Euro Pacific Asset Management LLC grew its stake in IAMGOLD by 48.1% during the 4th quarter. Euro Pacific Asset Management LLC now owns 2,727,065 shares of the mining company’s stock valued at $6,898,000 after acquiring an additional 885,697 shares in the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Scotiabank boosted their price target on shares of IAMGOLD from $3.25 to $3.75 and gave the company a “sector perform” rating in a report on Thursday, April 18th. National Bank Financial reissued a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. CIBC raised their price target on shares of IAMGOLD from $3.00 to $3.10 and gave the company a “neutral” rating in a report on Wednesday, February 7th. BMO Capital Markets increased their target price on shares of IAMGOLD from $4.00 to $4.25 and gave the stock an “outperform” rating in a research report on Friday, April 5th. Finally, StockNews.com raised IAMGOLD from a “sell” rating to a “hold” rating in a report on Friday, April 26th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $3.55.

IAMGOLD Stock Performance

Shares of IAMGOLD stock opened at $3.59 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.77. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 18.90, a price-to-earnings-growth ratio of 0.66 and a beta of 1.68. IAMGOLD Co. has a one year low of $1.99 and a one year high of $3.92. The stock’s 50-day moving average is $3.32 and its 200-day moving average is $2.76.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Thursday, February 15th. The mining company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. The firm had revenue of $297.60 million during the quarter. Equities analysts predict that IAMGOLD Co. will post 0.14 earnings per share for the current fiscal year.

About IAMGOLD

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.