Donald Smith & CO. Inc. Sells 3,873,422 Shares of IAMGOLD Co. (NYSE:IAG)

Donald Smith & CO. Inc. decreased its holdings in shares of IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 11.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,017,123 shares of the mining company's stock after selling 3,873,422 shares during the period. IAMGOLD comprises 3.8% of Donald Smith & CO. Inc.'s portfolio, making the stock its 8th biggest holding. Donald Smith & CO. Inc. owned about 5.45% of IAMGOLD worth $162,220,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in IAG. Vanguard Group Inc. lifted its position in shares of IAMGOLD by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company's stock worth $58,871,000 after buying an additional 168,302 shares during the period. Millennium Management LLC raised its stake in IAMGOLD by 194.2% during the second quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company's stock worth $29,573,000 after acquiring an additional 5,204,715 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of IAMGOLD by 28.6% during the second quarter. American Century Companies Inc. now owns 5,708,298 shares of the mining company's stock valued at $21,423,000 after acquiring an additional 1,270,608 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of IAMGOLD by 18.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,663,676 shares of the mining company's stock valued at $21,239,000 after purchasing an additional 898,077 shares in the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of IAMGOLD by 133.8% in the 2nd quarter. Mackenzie Financial Corp now owns 2,992,780 shares of the mining company's stock worth $11,246,000 after purchasing an additional 1,712,640 shares during the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. National Bank Financial upgraded shares of IAMGOLD from a "sector perform" rating to an "outperform" rating in a research report on Thursday, October 10th. Canaccord Genuity Group raised IAMGOLD from a "hold" rating to a "buy" rating and boosted their target price for the stock from $7.75 to $10.50 in a report on Tuesday, October 22nd. CIBC raised their price target on IAMGOLD from $5.40 to $6.40 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. StockNews.com upgraded IAMGOLD from a "sell" rating to a "hold" rating in a research report on Saturday, August 17th. Finally, Royal Bank of Canada restated a "sector perform" rating and set a $6.00 target price on shares of IAMGOLD in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $6.07.

IAMGOLD Trading Down 1.5 %

Shares of IAG stock traded down $0.08 during trading hours on Wednesday, reaching $5.69. The company had a trading volume of 6,690,071 shares, compared to its average volume of 9,124,508. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.34 and a quick ratio of 0.90. IAMGOLD Co. has a 1-year low of $2.11 and a 1-year high of $6.37. The company has a 50 day moving average of $5.23 and a 200 day moving average of $4.41. The firm has a market cap of $3.24 billion, a price-to-earnings ratio of 20.11 and a beta of 1.59.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last posted its earnings results 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. IAMGOLD had a return on equity of 6.70% and a net margin of 10.36%. The company had revenue of $385.30 million during the quarter. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. On average, equities research analysts anticipate that IAMGOLD Co. will post 0.51 EPS for the current year.

About IAMGOLD

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.