Sprott Inc. Sells 527,192 Shares of IAMGOLD Co. (NYSE:IAG)

Sprott Inc. decreased its stake in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 8.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,664,327 shares of the mining company’s stock after selling 527,192 shares during the period. IAMGOLD comprises about 1.7% of Sprott Inc.’s investment portfolio, making the stock its 16th biggest position. Sprott Inc. owned 0.99% of IAMGOLD worth $29,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its holdings in shares of IAMGOLD by 0.4% in the 4th quarter. CIBC Asset Management Inc now owns 700,955 shares of the mining company’s stock worth $3,615,000 after acquiring an additional 2,848 shares during the last quarter. Bank of New York Mellon Corp raised its position in IAMGOLD by 12.7% in the 4th 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. Tobam bought a new stake in IAMGOLD in the fourth quarter worth $25,000. Blue Trust Inc. lifted its stake in IAMGOLD by 157.1% in the fourth quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock worth $47,000 after purchasing an additional 5,511 shares during the last quarter. Finally, Aigen Investment Management LP boosted its position in IAMGOLD by 10.6% during the third quarter. Aigen Investment Management LP now owns 70,244 shares of the mining company’s stock valued at $368,000 after buying an additional 6,704 shares during the period. Institutional investors own 47.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on IAG shares. CIBC raised IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research note on Monday, December 2nd. StockNews.com upgraded IAMGOLD from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Raymond James upgraded shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, February 3rd. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.57.

IAMGOLD Stock Down 3.7 %

Shares of NYSE IAG opened at $5.57 on Wednesday. The firm has a fifty day simple moving average of $5.77 and a two-hundred day simple moving average of $5.45. IAMGOLD Co. has a 12 month low of $2.53 and a 12 month high of $6.69. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $3.18 billion, a PE ratio of 3.84 and a beta of 1.56.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Thursday, February 20th. The mining company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.05). IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. The company had revenue of $469.90 million during the quarter, compared to analysts’ expectations of $498.68 million. Equities analysts expect that IAMGOLD Co. will post 0.67 earnings per share 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.