Schroder Investment Management Group Sells 236,840 Shares of Iamgold Corporation $IAG

Schroder Investment Management Group lessened its holdings in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 6.0% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,708,035 shares of the mining company’s stock after selling 236,840 shares during the period. Schroder Investment Management Group’s holdings in Iamgold were worth $47,574,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of IAG. Vanguard Personalized Indexing Management LLC lifted its position in shares of Iamgold by 4.3% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 38,499 shares of the mining company’s stock worth $498,000 after buying an additional 1,598 shares during the last quarter. Tsfg LLC acquired a new position in shares of Iamgold during the 3rd quarter valued at about $26,000. Measured Wealth Private Client Group LLC raised its stake in shares of Iamgold by 4.0% in the 2nd quarter. Measured Wealth Private Client Group LLC now owns 89,293 shares of the mining company’s stock valued at $656,000 after acquiring an additional 3,396 shares in the last quarter. Banque Transatlantique SA acquired a new stake in Iamgold in the 2nd quarter worth approximately $26,000. Finally, Leuthold Group LLC lifted its holdings in Iamgold by 0.5% in the 3rd quarter. Leuthold Group LLC now owns 822,615 shares of the mining company’s stock worth $10,636,000 after purchasing an additional 3,878 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Iamgold in a report on Wednesday, February 4th. Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a research note on Thursday, January 22nd. Zacks Research raised shares of Iamgold from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Wall Street Zen upgraded shares of Iamgold from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Finally, TD Securities reissued a “buy” rating on shares of Iamgold in a research report on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $17.75.

Insider Buying and Selling

In other Iamgold news, Director David Stewart Smith sold 31,000 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The stock was sold at an average price of $32.87, for a total value of $1,018,970.00. Following the completion of the sale, the director owned 20,000 shares in the company, valued at approximately $657,400. This trade represents a 60.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.17% of the stock is currently owned by company insiders.

Iamgold Stock Performance

NYSE:IAG opened at $22.25 on Wednesday. The firm’s 50-day moving average is $20.12 and its 200-day moving average is $15.57. Iamgold Corporation has a 52-week low of $5.17 and a 52-week high of $24.87. 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 company has a market cap of $13.12 billion, a price-to-earnings ratio of 19.34, a PEG ratio of 1.73 and a beta of 1.33.

Iamgold (NYSE:IAG) (TSE:IMG) last released its earnings results on Tuesday, February 17th. The mining company reported $0.70 earnings per share for the quarter, beating 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 business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Equities research analysts anticipate that Iamgold Corporation will post 0.67 earnings per share for the current year.

Iamgold 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.