Legal & General Group Plc Sells 249,072 Shares of IAMGOLD Co. (NYSE:IAG)

Legal & General Group Plc lowered its position in shares of IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 15.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,329,431 shares of the mining company's stock after selling 249,072 shares during the quarter. Legal & General Group Plc owned 0.23% of IAMGOLD worth $6,868,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IAG. Franklin Resources Inc. grew its holdings in shares of IAMGOLD by 5.3% during the fourth quarter. Franklin Resources Inc. now owns 36,156 shares of the mining company's stock valued at $187,000 after buying an additional 1,836 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of IAMGOLD by 0.4% in the fourth quarter. CIBC Asset Management Inc now owns 700,955 shares of the mining company's stock worth $3,615,000 after purchasing an additional 2,848 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of IAMGOLD by 12.7% during the fourth quarter. Bank of New York Mellon Corp now owns 35,046 shares of the mining company's stock worth $181,000 after purchasing an additional 3,961 shares during the period. Northwest & Ethical Investments L.P. lifted its position in IAMGOLD by 4.6% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 91,623 shares of the mining company's stock worth $473,000 after buying an additional 4,013 shares in the last quarter. Finally, Tobam acquired a new stake in shares of IAMGOLD during the 4th quarter valued at $25,000. Institutional investors and hedge funds own 47.08% of the company's stock.

IAMGOLD Stock Performance

Shares of NYSE IAG traded down $0.03 during trading hours on Thursday, hitting $7.20. 3,592,912 shares of the company's stock were exchanged, compared to its average volume of 10,073,833. The stock has a market capitalization of $4.14 billion, a price-to-earnings ratio of 4.96 and a beta of 1.52. The company's 50-day moving average price is $6.25 and its 200-day moving average price is $5.79. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. IAMGOLD Co. has a 1-year low of $3.44 and a 1-year high of $8.38.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last posted its quarterly earnings data on Thursday, February 20th. The mining company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.05). IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. The business had revenue of $469.90 million during the quarter, compared to the consensus estimate of $498.68 million. On average, sell-side analysts expect that IAMGOLD Co. will post 0.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently issued reports on IAG. Scotiabank lifted their price objective on IAMGOLD from $6.75 to $7.50 and gave the company a "sector perform" rating in a research report on Monday, April 14th. BMO Capital Markets started coverage on IAMGOLD in a research note on Wednesday, April 16th. They issued an "outperform" rating for the company. Raymond James reaffirmed a "market perform" rating and set a $8.00 price objective on shares of IAMGOLD in a research report on Friday, April 4th. StockNews.com lowered shares of IAMGOLD from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Finally, CIBC reiterated an "outperform" rating on shares of IAMGOLD in a report on Thursday, March 20th. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $7.57.

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.