Donald Smith & CO. Inc. Increases Stake in IAMGOLD Co. (NYSE:IAG)

Donald Smith & CO. Inc. raised its position in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 13.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 35,778,309 shares of the mining company’s stock after purchasing an additional 4,358,444 shares during the quarter. IAMGOLD accounts for about 2.3% of Donald Smith & CO. Inc.’s investment portfolio, making the stock its 16th biggest holding. Donald Smith & CO. Inc. owned 7.43% of IAMGOLD worth $90,519,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of IAG. Raymond James Financial Services Advisors Inc. bought a new stake in IAMGOLD during the fourth quarter valued at approximately $26,000. Stratos Wealth Partners LTD. purchased a new position in IAMGOLD during the third quarter valued at $32,000. Koshinski Asset Management Inc. bought a new position in IAMGOLD during the fourth quarter valued at approximately $34,000. RWA Wealth Partners LLC bought a new stake in IAMGOLD during the fourth quarter worth approximately $53,000. Finally, Rathbones Group PLC bought a new position in IAMGOLD during the third quarter valued at $81,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

IAMGOLD Trading Up 0.5 %

IAG traded up $0.02 during mid-day trading on Monday, hitting $3.80. 6,492,323 shares of the stock were exchanged, compared to its average volume of 8,988,574. The company has a market cap of $1.89 billion, a PE ratio of 19.84, a PEG ratio of 0.68 and a beta of 1.69. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 0.36. The firm’s fifty day moving average is $3.21 and its two-hundred day moving average is $2.72. IAMGOLD Co. has a 1-year low of $1.99 and a 1-year high of $3.92.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its earnings results on Thursday, February 15th. The mining company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.04. IAMGOLD had a net margin of 9.55% and a return on equity of 1.97%. The firm had revenue of $297.60 million for the quarter. Equities analysts forecast that IAMGOLD Co. will post 0.14 earnings per share for the current fiscal 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.