Arrowstreet Capital Limited Partnership Decreases Stake in Iamgold Corporation $IAG

Arrowstreet Capital Limited Partnership lessened its stake in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 46.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,023,434 shares of the mining company’s stock after selling 5,148,405 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Iamgold were worth $99,377,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its position 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 worth $64,645,000 after buying an additional 408,800 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its position 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 worth $7,602,000 after buying an additional 130,400 shares during the last quarter. Waratah Capital Advisors Ltd. lifted its position 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 worth $27,328,000 after buying an additional 1,859,463 shares during the last quarter. CI Investments Inc. purchased a new stake in shares of Iamgold during the 3rd quarter worth approximately $96,747,000. Finally, Rathbones Group PLC increased its holdings in shares of Iamgold by 1,037,042.8% in 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 acquiring an additional 418,861,592 shares during the period. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Iamgold Price Performance

Iamgold stock opened at $17.90 on Tuesday. Iamgold Corporation has a 52 week low of $6.69 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 firm’s 50-day simple moving average is $17.65 and its 200 day simple moving average is $18.33. The firm has a market capitalization of $10.35 billion, a PE ratio of 10.41, a P/E/G ratio of 0.80 and a beta of 1.25.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Tuesday, May 5th. The mining company reported $0.66 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 business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $955.17 million. On average, equities research analysts predict that Iamgold Corporation will post 2.27 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

About Iamgold

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.