Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp Sells 643,278 Shares of IAMGOLD Corp (IAG)

Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp reduced its position in IAMGOLD Corp (NYSE:IAG) (TSE:IMG) by 51.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 619,200 shares of the mining company’s stock after selling 643,278 shares during the quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned approximately 0.13% of IAMGOLD worth $4,539,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in IAG. Russell Investments Group Ltd. increased its position in IAMGOLD by 50.9% in the third quarter. Russell Investments Group Ltd. now owns 510,561 shares of the mining company’s stock worth $3,115,000 after buying an additional 172,246 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in IAMGOLD in the third quarter worth $457,000. Nordea Investment Management AB purchased a new stake in IAMGOLD in the third quarter worth $3,425,000. Legal & General Group Plc increased its position in IAMGOLD by 4.5% in the third quarter. Legal & General Group Plc now owns 366,157 shares of the mining company’s stock worth $2,309,000 after buying an additional 15,876 shares during the last quarter. Finally, Trexquant Investment LP purchased a new stake in IAMGOLD in the third quarter worth $177,000. 57.38% of the stock is owned by institutional investors and hedge funds.

IAMGOLD stock opened at $5.24 on Friday. The firm has a market capitalization of $2,441.20, a price-to-earnings ratio of 87.33, a PEG ratio of 16.79 and a beta of -0.17. IAMGOLD Corp has a 52-week low of $3.55 and a 52-week high of $7.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 5.02 and a quick ratio of 4.16.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Wednesday, February 21st. The mining company reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.02 by ($0.05). IAMGOLD had a net margin of 45.81% and a return on equity of 1.08%. The company had revenue of $291.10 million during the quarter, compared to analysts’ expectations of $280.04 million. During the same quarter last year, the firm posted ($0.01) earnings per share. IAMGOLD’s revenue for the quarter was up 15.3% compared to the same quarter last year. analysts anticipate that IAMGOLD Corp will post 0.1 EPS for the current year.

A number of analysts have issued reports on IAG shares. Desjardins reissued a “buy” rating on shares of IAMGOLD in a research report on Monday, December 11th. BMO Capital Markets set a $7.00 price target on IAMGOLD and gave the company a “buy” rating in a research report on Tuesday, December 19th. Zacks Investment Research upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating and set a $6.75 price target for the company in a research report on Wednesday, January 10th. Canaccord Genuity upgraded IAMGOLD from a “hold” rating to a “buy” rating in a research report on Wednesday, January 17th. Finally, CIBC set a $7.50 price target on IAMGOLD and gave the company an “outperform” rating in a research report on Wednesday, January 17th. Eight research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. IAMGOLD presently has an average rating of “Hold” and an average price target of $7.07.

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About IAMGOLD

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.

Institutional Ownership by Quarter for IAMGOLD (NYSE:IAG)

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