IAMGOLD Co. (NYSE:IAG) Stake Cut by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its holdings in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 4.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,975,800 shares of the mining company’s stock after selling 617,800 shares during the period. Renaissance Technologies LLC’s holdings in IAMGOLD were worth $52,409,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Van ECK Associates Corp boosted its stake in shares of IAMGOLD by 8.2% during the 1st quarter. Van ECK Associates Corp now owns 52,053,035 shares of the mining company’s stock valued at $173,340,000 after buying an additional 3,935,250 shares during the period. Donald Smith & CO. Inc. raised its stake in shares of IAMGOLD by 0.8% during the 1st quarter. Donald Smith & CO. Inc. now owns 36,077,268 shares of the mining company’s stock worth $120,137,000 after purchasing an additional 298,959 shares in the last quarter. Helikon Investments Ltd lifted its holdings in shares of IAMGOLD by 250.5% during the 1st quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock valued at $109,429,000 after buying an additional 23,485,183 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of IAMGOLD by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company’s stock valued at $58,871,000 after buying an additional 168,302 shares in the last quarter. Finally, Polunin Capital Partners Ltd raised its position in IAMGOLD by 12.1% during the first quarter. Polunin Capital Partners Ltd now owns 8,995,059 shares of the mining company’s stock valued at $29,954,000 after acquiring an additional 968,104 shares in the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

IAMGOLD Price Performance

NYSE IAG opened at $5.40 on Wednesday. The stock has a market capitalization of $3.07 billion, a PE ratio of 19.27 and a beta of 1.58. The stock has a 50-day simple moving average of $4.57 and a 200 day simple moving average of $3.98. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.90 and a current ratio of 1.34. IAMGOLD Co. has a twelve month low of $1.99 and a twelve month high of $5.56.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.08. The business had revenue of $385.30 million for the quarter. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. During the same quarter in the previous year, the business posted ($0.01) EPS. Research analysts anticipate that IAMGOLD Co. will post 0.41 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on IAG. Scotiabank increased their price target on shares of IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. BMO Capital Markets restated an “outperform” rating and set a $5.00 target price on shares of IAMGOLD in a report on Thursday, June 6th. StockNews.com raised IAMGOLD from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. Finally, CIBC boosted their target price on IAMGOLD from $4.90 to $5.40 and gave the stock a “neutral” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, IAMGOLD presently has a consensus rating of “Hold” and a consensus target price of $4.73.

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.