Iamgold Corporation $IAG Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lowered its holdings in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 46.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,023,434 shares of the mining company’s stock after selling 5,148,405 shares during the quarter. Arrowstreet Capital Limited Partnership owned 1.02% of Iamgold worth $99,377,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Public Employees Retirement System of Ohio increased its stake in shares of Iamgold by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 220,452 shares of the mining company’s stock worth $2,849,000 after acquiring an additional 1,303 shares during the period. Northwest & Ethical Investments L.P. boosted its holdings in Iamgold by 0.4% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 343,605 shares of the mining company’s stock worth $5,716,000 after buying an additional 1,424 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Iamgold by 4.8% during the fourth quarter. Franklin Resources Inc. now owns 32,011 shares of the mining company’s stock worth $528,000 after buying an additional 1,474 shares in the last quarter. Rathbones Group PLC boosted its holdings in Iamgold by 3.7% during the fourth quarter. Rathbones Group PLC now owns 41,890 shares of the mining company’s stock worth $691,000 after buying an additional 1,500 shares in the last quarter. Finally, Pin Oak Investment Advisors Inc. purchased a new stake in Iamgold during the fourth quarter worth $30,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Iamgold Price Performance

Iamgold stock opened at $17.90 on Tuesday. Iamgold Corporation has a 12-month low of $6.69 and a 12-month high of $24.87. The stock has a market cap of $10.35 billion, a P/E ratio of 10.41, a PEG ratio of 0.80 and a beta of 1.25. The company has a 50-day moving average price of $17.65 and a 200 day moving average price of $18.33. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Tuesday, May 5th. The mining company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.14. Iamgold had a net margin of 29.49% and a return on equity of 26.65%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $955.17 million. Sell-side analysts anticipate that Iamgold Corporation will post 2.27 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on IAG. Weiss Ratings downgraded shares of Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 9th. Scotiabank increased their price target on shares of Iamgold to $25.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 25th. TD Securities reissued a “buy” rating on shares of Iamgold in a report on Thursday, February 19th. Wall Street Zen raised shares of Iamgold from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Finally, Zacks Research downgraded shares of Iamgold from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $17.75.

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.