Russell Investments Group Ltd. Sells 1,039,259 Shares of IAMGOLD Co. (NYSE:IAG)

Russell Investments Group Ltd. trimmed its stake in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 34.4% during the 4th quarter, Holdings Channel reports. The firm owned 1,985,914 shares of the mining company’s stock after selling 1,039,259 shares during the quarter. Russell Investments Group Ltd.’s holdings in IAMGOLD were worth $5,025,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of IAG. Stratos Wealth Partners LTD. bought a new position in shares of IAMGOLD in the third quarter worth approximately $32,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in IAMGOLD by 31.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 98,843 shares of the mining company’s stock valued at $214,000 after acquiring an additional 23,836 shares during the last quarter. CIBC Asset Management Inc grew its position in IAMGOLD by 0.9% during the third quarter. CIBC Asset Management Inc now owns 435,298 shares of the mining company’s stock valued at $942,000 after acquiring an additional 4,000 shares during the last quarter. Barclays PLC grew its position in IAMGOLD by 1.9% during the third quarter. Barclays PLC now owns 293,363 shares of the mining company’s stock valued at $631,000 after acquiring an additional 5,470 shares during the last quarter. Finally, Quantbot Technologies LP bought a new position in IAMGOLD during the third quarter valued at approximately $539,000. 47.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

IAMGOLD Stock Performance

Shares of IAG stock opened at $3.85 on Friday. The stock has a fifty day moving average of $3.41 and a 200 day moving average of $2.80. IAMGOLD Co. has a 52 week low of $1.99 and a 52 week high of $3.92. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 20.24, a PEG ratio of 0.64 and a beta of 1.68. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 0.36.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Thursday, February 15th. The mining company reported $0.06 EPS 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 company had revenue of $297.60 million during the quarter. As a group, research analysts expect that IAMGOLD Co. will post 0.14 earnings per share for the current 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.