Russell Investments Group Ltd. Sells 16,860 Shares of Iamgold Corporation $IAG

Russell Investments Group Ltd. lessened its stake in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 3.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 546,077 shares of the mining company’s stock after selling 16,860 shares during the period. Russell Investments Group Ltd. owned about 0.09% of Iamgold worth $3,412,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of IAG. Millennium Management LLC raised its stake in shares of Iamgold by 88.4% during the fourth quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company’s stock valued at $53,307,000 after acquiring an additional 4,846,254 shares in the last quarter. Nuveen LLC bought a new stake in shares of Iamgold during the first quarter valued at approximately $20,620,000. Ninety One UK Ltd bought a new stake in shares of Iamgold during the first quarter valued at approximately $14,678,000. Dimensional Fund Advisors LP raised its stake in shares of Iamgold by 21.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 9,267,628 shares of the mining company’s stock valued at $47,818,000 after acquiring an additional 1,637,158 shares in the last quarter. Finally, NewGen Asset Management Ltd bought a new stake in shares of Iamgold during the first quarter valued at approximately $9,062,000. Institutional investors own 47.08% of the company’s stock.

Iamgold Price Performance

NYSE IAG opened at $8.7650 on Friday. The firm’s fifty day simple moving average is $7.41 and its two-hundred day simple moving average is $6.85. The company has a current ratio of 1.47, a quick ratio of 0.76 and a debt-to-equity ratio of 0.31. Iamgold Corporation has a 12-month low of $4.44 and a 12-month high of $8.87. The firm has a market capitalization of $5.04 billion, a P/E ratio of 6.31, a P/E/G ratio of 0.29 and a beta of 1.08.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Thursday, August 7th. The mining company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). Iamgold had a return on equity of 8.54% and a net margin of 40.61%.The firm had revenue of $587.21 million during the quarter, compared to analysts’ expectations of $663.21 million. Analysts forecast that Iamgold Corporation will post 0.67 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on IAG. Raymond James Financial raised shares of Iamgold to a “hold” rating and set a $8.00 price target for the company in a research note on Monday, June 30th. Scotiabank boosted their price objective on shares of Iamgold from $7.50 to $7.75 and gave the stock a “sector perform” rating in a research note on Monday, May 12th. Zacks Research downgraded shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. CIBC reissued an “outperform” rating on shares of Iamgold in a research note on Tuesday, July 15th. Finally, National Bankshares reissued an “outperform” rating on shares of Iamgold in a research note on Tuesday, June 24th. Two analysts have rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Iamgold has a consensus rating of “Moderate Buy” and an average target price of $8.53.

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.