Toronto Dominion Bank reduced its stake in Iamgold Corp (NYSE:IAG) (TSE:IMG) by 49.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 492,630 shares of the mining company’s stock after selling 481,314 shares during the period. Toronto Dominion Bank owned 0.11% of Iamgold worth $1,664,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in IAG. Donald Smith & CO. Inc. increased its stake in shares of Iamgold by 33.6% during the second quarter. Donald Smith & CO. Inc. now owns 38,501,844 shares of the mining company’s stock valued at $130,136,000 after purchasing an additional 9,680,098 shares in the last quarter. Ruffer LLP grew its holdings in shares of Iamgold by 47.4% during the second quarter. Ruffer LLP now owns 20,061,272 shares of the mining company’s stock valued at $67,707,000 after buying an additional 6,449,117 shares during the last quarter. Polunin Capital Partners Ltd purchased a new stake in shares of Iamgold during the second quarter valued at approximately $6,938,000. Schroder Investment Management Group grew its holdings in shares of Iamgold by 78.9% during the second quarter. Schroder Investment Management Group now owns 3,795,111 shares of the mining company’s stock valued at $15,610,000 after buying an additional 1,674,109 shares during the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of Iamgold by 125.2% during the second quarter. Bank of America Corp DE now owns 1,645,807 shares of the mining company’s stock valued at $5,564,000 after buying an additional 914,882 shares during the last quarter. 57.30% of the stock is owned by institutional investors.

Shares of IAG stock traded down $0.06 on Wednesday, hitting $3.69. 437,740 shares of the stock traded hands, compared to its average volume of 5,583,810. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 61.42, a PEG ratio of 44.36 and a beta of -0.10. Iamgold Corp has a 52 week low of $2.28 and a 52 week high of $4.16. The firm has a 50 day simple moving average of $3.62 and a two-hundred day simple moving average of $3.29. The company has a debt-to-equity ratio of 0.15, a current ratio of 4.14 and a quick ratio of 3.05.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Wednesday, August 7th. The mining company reported ($0.03) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.02). The firm had revenue of $246.50 million for the quarter, compared to the consensus estimate of $272.94 million. Iamgold had a negative net margin of 9.84% and a negative return on equity of 1.45%. The firm’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 earnings per share. Sell-side analysts forecast that Iamgold Corp will post 0.03 EPS for the current year.

Several research analysts have weighed in on the stock. CIBC reiterated an “average” rating on shares of Iamgold in a research report on Sunday, August 4th. Canaccord Genuity reiterated a “hold” rating on shares of Iamgold in a research report on Friday, July 19th. CSFB downgraded shares of Iamgold from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $4.75 to $3.75 in a research report on Thursday, August 8th. GMP Securities downgraded shares of Iamgold from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Raymond James reiterated a “market perform” rating and issued a $4.00 price target on shares of Iamgold in a research report on Friday, August 9th. Ten analysts have rated the stock with a hold rating and four have given a buy rating to the company. Iamgold currently has an average rating of “Hold” and a consensus price target of $4.12.

Iamgold Profile

IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine in Burkina Faso, West Africa; the Westwood mine in Quebec, Canada; and the Sadiola mine located in Mali, West Africa.

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Institutional Ownership by Quarter for Iamgold (NYSE:IAG)

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