Donald Smith & CO. Inc. Purchases 4,358,444 Shares of IAMGOLD Co. (NYSE:IAG)

Donald Smith & CO. Inc. boosted its position in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 13.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,778,309 shares of the mining company’s stock after buying an additional 4,358,444 shares during the quarter. IAMGOLD makes up about 2.3% of Donald Smith & CO. Inc.’s portfolio, making the stock its 16th biggest position. Donald Smith & CO. Inc. owned about 0.07% of IAMGOLD worth $90,519,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. Van ECK Associates Corp raised its holdings in shares of IAMGOLD by 4.0% in the third quarter. Van ECK Associates Corp now owns 46,749,294 shares of the mining company’s stock valued at $100,513,000 after purchasing an additional 1,779,306 shares during the last quarter. Vanguard Group Inc. grew its position in IAMGOLD by 2.1% in the third quarter. Vanguard Group Inc. now owns 17,375,017 shares of the mining company’s stock valued at $37,356,000 after purchasing an additional 363,051 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in IAMGOLD in the 4th quarter valued at $10,972,000. Euro Pacific Asset Management LLC lifted its position in IAMGOLD by 48.1% during the 4th quarter. Euro Pacific Asset Management LLC now owns 2,727,065 shares of the mining company’s stock worth $6,898,000 after buying an additional 885,697 shares in the last quarter. Finally, Sprott Inc. lifted its position in IAMGOLD by 888.7% during the 3rd quarter. Sprott Inc. now owns 1,279,400 shares of the mining company’s stock worth $2,751,000 after buying an additional 1,150,000 shares in the last quarter. Institutional investors own 47.08% of the company’s stock.

IAMGOLD Stock Performance

IAG stock traded up $0.02 during midday trading on Monday, reaching $3.80. 6,492,323 shares of the company were exchanged, compared to its average volume of 8,988,574. The firm has a market capitalization of $1.89 billion, a price-to-earnings ratio of 19.84, a price-to-earnings-growth ratio of 0.68 and a beta of 1.69. The business has a 50-day moving average price of $3.21 and a two-hundred day moving average price of $2.72. IAMGOLD Co. has a one year low of $1.99 and a one year high of $3.92. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.77.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Thursday, February 15th. The mining company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The business had revenue of $297.60 million for the quarter. IAMGOLD had a net margin of 9.55% and a return on equity of 1.97%. Equities research analysts forecast that IAMGOLD Co. will post 0.14 EPS for the current year.

Analyst Upgrades and Downgrades

IAG has been the subject of a number of analyst reports. National Bank Financial restated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research note on Monday, April 8th. Scotiabank raised their target price on shares of IAMGOLD from $3.25 to $3.75 and gave the company a “sector perform” rating in a research note on Thursday, April 18th. BMO Capital Markets upped their price target on shares of IAMGOLD from $4.00 to $4.25 and gave the stock an “outperform” rating in a research report on Friday, April 5th. StockNews.com upgraded shares of IAMGOLD from a “sell” rating to a “hold” rating in a research note on Friday. Finally, CIBC boosted their price objective on shares of IAMGOLD from $3.00 to $3.10 and gave the stock a “neutral” rating in a research note on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $3.55.

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.