Legal & General Group Plc Sells 278,806 Shares of Iamgold Corporation $IAG

Legal & General Group Plc decreased its holdings in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 12.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,922,766 shares of the mining company’s stock after selling 278,806 shares during the period. Legal & General Group Plc owned about 0.33% of Iamgold worth $31,771,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of IAG. Allspring Global Investments Holdings LLC lifted its stake in shares of Iamgold by 11.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,917,300 shares of the mining company’s stock valued at $64,645,000 after buying an additional 408,800 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its stake in shares of Iamgold by 28.5% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 587,920 shares of the mining company’s stock valued at $7,602,000 after buying an additional 130,400 shares in the last quarter. Waratah Capital Advisors Ltd. lifted its stake in shares of Iamgold by 731.8% during the 3rd quarter. Waratah Capital Advisors Ltd. now owns 2,113,558 shares of the mining company’s stock valued at $27,328,000 after buying an additional 1,859,463 shares in the last quarter. CI Investments Inc. purchased a new position in shares of Iamgold during the 3rd quarter valued at $96,747,000. Finally, Rathbones Group PLC lifted its stake in shares of Iamgold by 1,037,042.8% during the 4th 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 in the last quarter. Institutional investors own 47.08% of the company’s stock.

Iamgold Stock Up 3.2%

Shares of IAG stock opened at $17.91 on Friday. The stock has a market cap of $10.35 billion, a P/E ratio of 10.41, a PEG ratio of 0.87 and a beta of 1.26. Iamgold Corporation has a 52 week low of $6.68 and a 52 week high of $24.87. 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 company’s fifty day simple moving average is $17.92 and its two-hundred day simple moving average is $18.08.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.52 by $0.14. The business had revenue of $1.01 billion for 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%. Analysts predict that Iamgold Corporation will post 2.24 EPS for the current fiscal year.

Analysts Set New Price Targets

IAG has been the topic of a number of analyst reports. Zacks Research cut shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Scotiabank boosted their price target on shares of Iamgold to $25.00 and gave the stock a “sector perform” rating in a research note on Wednesday, February 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of Iamgold in a research note on Tuesday, April 21st. Wall Street Zen upgraded shares of Iamgold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Iamgold in a research note on Wednesday, February 4th. 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 company’s stock. According to data from MarketBeat.com, Iamgold presently has an average rating of “Moderate Buy” and a consensus target price of $17.75.

Iamgold 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.