TD Asset Management Inc. decreased its stake in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 20.5% during the second quarter, Holdings Channel reports. The firm owned 3,101,128 shares of the mining company’s stock after selling 800,300 shares during the period. TD Asset Management Inc.’s holdings in Iamgold Corporation were worth $15,975,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bennicas & Associates Inc. raised its stake in shares of Iamgold Corporation by 5.1% in the first quarter. Bennicas & Associates Inc. now owns 92,200 shares of the mining company’s stock valued at $369,000 after buying an additional 4,500 shares during the period. AQR Capital Management LLC raised its stake in shares of Iamgold Corporation by 280.7% in the fourth quarter. AQR Capital Management LLC now owns 45,137 shares of the mining company’s stock valued at $175,000 after buying an additional 33,282 shares during the period. Creative Planning raised its stake in shares of Iamgold Corporation by 11.5% in the first quarter. Creative Planning now owns 98,440 shares of the mining company’s stock valued at $394,000 after buying an additional 10,168 shares during the period. Morgan Stanley raised its stake in shares of Iamgold Corporation by 204.3% in the first quarter. Morgan Stanley now owns 2,237,001 shares of the mining company’s stock valued at $8,949,000 after buying an additional 1,501,873 shares during the period. Finally, FMR LLC purchased a new stake in shares of Iamgold Corporation during the first quarter valued at approximately $4,943,000. 57.95% of the stock is currently owned by institutional investors and hedge funds.

Shares of Iamgold Corporation (NYSE:IAG) opened at 5.45 on Friday. The company has a 50-day moving average price of $5.19 and a 200-day moving average price of $4.54. Iamgold Corporation has a 1-year low of $3.14 and a 1-year high of $5.71. The stock’s market cap is $2.53 billion.

Iamgold Corporation (NYSE:IAG) (TSE:IMG) last issued its earnings results on Wednesday, August 9th. The mining company reported $0.01 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.01. The firm had revenue of $274.50 million during the quarter, compared to analysts’ expectations of $267.07 million. Iamgold Corporation had a net margin of 46.75% and a return on equity of 1.43%. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period last year, the firm posted $0.01 earnings per share. On average, equities analysts expect that Iamgold Corporation will post $0.04 earnings per share for the current fiscal year.

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Several equities research analysts have recently commented on IAG shares. Zacks Investment Research raised Iamgold Corporation from a “hold” rating to a “strong-buy” rating and set a $5.75 price target on the stock in a research note on Wednesday, June 21st. BMO Capital Markets set a $5.00 price target on Iamgold Corporation and gave the stock a “hold” rating in a research note on Tuesday, June 6th. Credit Suisse Group set a $6.00 price target on Iamgold Corporation and gave the stock a “hold” rating in a research note on Tuesday, July 18th. ValuEngine raised Iamgold Corporation from a “sell” rating to a “hold” rating in a research note on Tuesday, May 23rd. Finally, Scotiabank boosted their price target on Iamgold Corporation from $5.75 to $6.25 and gave the stock a “sector perform” rating in a research note on Tuesday, August 1st. Nine analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Iamgold Corporation currently has a consensus rating of “Hold” and an average target price of $5.88.

About Iamgold Corporation

IAMGOLD Corporation (IAMGOLD) is engaged primarily in the exploration for, and the development and production of, mineral resource properties throughout the world. Through its holdings, IAMGOLD has interests in various operations, exploration and development properties. IAMGOLD is a mid-tier mining company with approximately four operating gold mines on over three continents.

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Institutional Ownership by Quarter for Iamgold Corporation (NYSE:IAG)

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