Fintel reports that Donald Smith & has filed a 13G form with the SEC disclosing ownership of 36.74MM shares of Iamgold Corp (IAG). This represents 7.69% of the company.
In their previous filing dated February 7, 2022 they reported 41.37MM shares and 8.67% of the company, a decrease in shares of 11.19% and a decrease in total ownership of 0.98% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 0.15% Downside
As of February 8, 2023, the average one-year price target for Iamgold is $2.70. The forecasts range from a low of $2.02 to a high of $4.50. The average price target represents a decrease of 0.15% from its latest reported closing price of $2.70.
The projected annual revenue for Iamgold is $902MM. The projected annual EPS is -$0.01.
What is the Fund Sentiment?
There are 197 funds or institutions reporting positions in Iamgold. This is a decrease of 12 owner(s) or 5.74% in the last quarter. Average portfolio weight of all funds dedicated to IAG is 0.13%, a decrease of 5.90%. Total shares owned by institutions decreased in the last three months by 2.86% to 310,472K shares. The put/call ratio of IAG is 0.74, indicating a bullish outlook.
What are large shareholders doing?
Van Eck Associates holds 44,904K shares representing 9.38% ownership of the company. In it's prior filing, the firm reported owning 46,107K shares, representing a decrease of 2.68%. The firm increased its portfolio allocation in IAG by 87.55% over the last quarter.
GDX - VanEck Vectors Gold Miners ETF holds 24,578K shares representing 5.13% ownership of the company. In it's prior filing, the firm reported owning 25,372K shares, representing a decrease of 3.23%. The firm decreased its portfolio allocation in IAG by 24.74% over the last quarter.
Kopernik Global Investors holds 23,803K shares representing 4.97% ownership of the company. In it's prior filing, the firm reported owning 29,415K shares, representing a decrease of 23.57%. The firm decreased its portfolio allocation in IAG by 48.82% over the last quarter.
VASVX - Vanguard Selected Value Fund Investor Shares holds 19,856K shares representing 4.15% ownership of the company. No change in the last quarter.
Renaissance Technologies holds 17,659K shares representing 3.69% ownership of the company. In it's prior filing, the firm reported owning 18,687K shares, representing a decrease of 5.83%. The firm decreased its portfolio allocation in IAG by 24.95% over the last quarter.
Iamgold Background Information
(This description is provided by the company.)
IAMGOLD is a mid-tier mining company with three gold mines on three continents, including the Essakane mine in Burkina Faso, the Rosebel mine in Suriname, and the Westwood mine in Canada. A solid base of strategic assets is complemented by the Côté Gold development project in Canada, the Boto Gold development project in Senegal, as well as greenfield and brownfield exploration projects in various countries located in West Africa and the Americas. IAMGOLD is committed to maintaining its culture of accountable mining through high standards of ESG practices and employs approximately 5,000 people. IAMGOLD's commitment is to Zero Harm, in every aspect of its business. IAMGOLD is one of the companies on the JSI index.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
