Russell Investments Group Ltd. Has $1.39 Million Holdings in Iamgold Corp (IAG)

Russell Investments Group Ltd. reduced its stake in Iamgold Corp (NYSE:IAG) (TSE:IMG) by 10.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 383,496 shares of the mining company’s stock after selling 46,471 shares during the period. Russell Investments Group Ltd. owned about 0.08% of Iamgold worth $1,394,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of IAG. Bank of New York Mellon Corp boosted its stake in shares of Iamgold by 69.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 7,959,287 shares of the mining company’s stock valued at $46,243,000 after purchasing an additional 3,269,020 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Iamgold by 4.7% in the 2nd quarter. Van ECK Associates Corp now owns 64,001,511 shares of the mining company’s stock valued at $371,849,000 after purchasing an additional 2,862,271 shares in the last quarter. FMR LLC boosted its stake in shares of Iamgold by 65.2% in the 2nd quarter. FMR LLC now owns 3,032,450 shares of the mining company’s stock valued at $17,669,000 after purchasing an additional 1,197,000 shares in the last quarter. Capital Fund Management S.A. boosted its stake in shares of Iamgold by 41.7% in the 2nd quarter. Capital Fund Management S.A. now owns 3,074,655 shares of the mining company’s stock valued at $17,864,000 after purchasing an additional 904,111 shares in the last quarter. Finally, Schroder Investment Management Group boosted its stake in shares of Iamgold by 205.1% in the 2nd quarter. Schroder Investment Management Group now owns 623,110 shares of the mining company’s stock valued at $4,533,000 after purchasing an additional 418,900 shares in the last quarter. Institutional investors own 55.54% of the company’s stock.

NYSE:IAG opened at $3.29 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.40 and a current ratio of 4.31. Iamgold Corp has a one year low of $2.75 and a one year high of $6.52. The company has a market cap of $1.49 billion, a P/E ratio of 54.83, a price-to-earnings-growth ratio of 9.52 and a beta of -0.15.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its earnings results on Tuesday, November 6th. The mining company reported ($0.01) EPS for the quarter, hitting the consensus estimate of ($0.01). Iamgold had a negative net margin of 0.98% and a positive return on equity of 1.14%. The business had revenue of $244.80 million for the quarter, compared to the consensus estimate of $266.17 million. During the same period last year, the company earned $0.07 EPS. The firm’s revenue was down 8.9% compared to the same quarter last year. On average, analysts expect that Iamgold Corp will post 0.11 earnings per share for the current fiscal year.

Several equities research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Iamgold from a “hold” rating to a “sell” rating in a research report on Wednesday, October 10th. ValuEngine downgraded shares of Iamgold from a “hold” rating to a “sell” rating in a research report on Monday, November 12th. Desjardins reiterated a “hold” rating on shares of Iamgold in a research report on Friday, November 16th. Royal Bank of Canada set a $6.00 target price on shares of Iamgold and gave the stock a “hold” rating in a research report on Thursday, October 11th. Finally, Credit Suisse Group set a $6.00 target price on shares of Iamgold and gave the stock a “hold” rating in a research report on Thursday, November 8th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $6.68.

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About Iamgold

IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. It also explores for copper and silver. The company owns interests in the Rosebel gold mine located in north eastern Suriname, South America; the Essakane gold mine in north-eastern Burkina Faso, West Africa; the Westwood gold mine in southwestern Québec, Canada; and the Sadiola Gold Mine located in southwest Mali, West Africa.

See Also: Debt-To-Equity Ratio

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Institutional Ownership by Quarter for Iamgold (NYSE:IAG)

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