Iamgold Corporation $IAG Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lessened its stake in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 5.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 9,847,577 shares of the mining company’s stock after selling 615,865 shares during the period. Dimensional Fund Advisors LP owned about 1.71% of Iamgold worth $127,324,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of IAG. Tsfg LLC acquired a new stake in shares of Iamgold during the third quarter worth $26,000. Banque Transatlantique SA acquired a new position in shares of Iamgold in the 2nd quarter valued at $26,000. Tableaux LLC acquired a new position in shares of Iamgold in the 2nd quarter valued at $61,000. Olympiad Research LP purchased a new position in Iamgold in the 2nd quarter worth about $87,000. Finally, Stevens Capital Management LP purchased a new position in Iamgold in the 2nd quarter worth about $90,000. 47.08% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Iamgold news, Director David Stewart Smith sold 31,000 shares of the firm’s stock in a transaction dated Friday, February 27th. The stock was sold at an average price of $32.87, for a total transaction of $1,018,970.00. Following the transaction, the director directly owned 20,000 shares in the company, valued at $657,400. This trade represents a 60.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.17% of the stock is owned by insiders.

Iamgold Price Performance

Shares of IAG opened at $21.79 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.75. The firm has a market cap of $12.85 billion, a PE ratio of 18.95, a PEG ratio of 1.76 and a beta of 1.33. The firm’s 50 day moving average price is $20.22 and its 200 day moving average price is $15.62. Iamgold Corporation has a twelve month low of $5.35 and a twelve month high of $24.87.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its earnings results on Tuesday, February 17th. The mining company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.55 by $0.15. Iamgold had a net margin of 23.29% and a return on equity of 19.26%. The company had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.08 billion. As a group, research analysts expect that Iamgold Corporation will post 0.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on IAG. Wall Street Zen raised shares of Iamgold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Scotiabank lifted their target price on shares of Iamgold to $25.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 25th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Iamgold in a report on Wednesday, February 4th. TD Securities restated a “buy” rating on shares of Iamgold in a research report on Thursday, February 19th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Iamgold in a research note on Thursday, January 22nd. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “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.