IAMGOLD Corp (USA) (IAG) : Contrarius Investment Management Ltd reduced its stake in IAMGOLD Corp (USA) by 8.17% during the most recent quarter end. The investment management company now holds a total of 26,018,198 shares of IAMGOLD Corp (USA) which is valued at $98.6 Million after selling 2,315,594 shares in IAMGOLD Corp (USA) , the firm said in a disclosure report filed with the SEC on May 11, 2016.IAMGOLD Corp (USA) makes up approximately 8.51% of Contrarius Investment Management Ltd’s portfolio.
Other Hedge Funds, Including , Nine Chapters Capital Management sold out all of its stake in IAG during the most recent quarter. The investment firm sold 15,600 shares of IAG which is valued $59,124.Swiss National Bank boosted its stake in IAG in the latest quarter, The investment management firm added 127,600 additional shares and now holds a total of 668,000 shares of IAMGOLD Corp (USA) which is valued at $2.4 Million. Bluecrest Capital Management Ltd added IAG to its portfolio by purchasing 25,800 company shares during the most recent quarter which is valued at $94,428. IAMGOLD Corp (USA) makes up approx 0.01% of Bluecrest Capital Management Ltd’s portfolio. Checchi Capital Advisers added IAG to its portfolio by purchasing 1,167 company shares during the most recent quarter which is valued at $4,271.
IAMGOLD Corp (USA) opened for trading at $3.92 and hit $4.01 on the upside on Monday, eventually ending the session at $3.85, with a gain of 1.58% or 0.06 points. The heightened volatility saw the trading volume jump to 65,06,189 shares. Company has a market cap of $1,563 M.
On the company’s financial health, IAMGOLD Corp (USA) reported $-0.16 EPS for the quarter, missing the analyst consensus estimate by $ -0.06 based on the information available during the earnings call on Feb 17, 2016. Analyst had a consensus of $-0.10. The company had revenue of $238.20 million for the quarter, compared to analysts expectations of $214.86 million. The company’s revenue was down -12.6 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.03 EPS.
Many Wall Street Analysts have commented on IAMGOLD Corp (USA). IAMGOLD Corp (USA) was Upgraded by Macquarie to ” Neutral” on May 5, 2016. IAMGOLD Corp (USA) was Downgraded by Mackie Research to ” Sell” on Feb 19, 2016. IAMGOLD Corp (USA) was Upgraded by Goldman to ” Neutral” on Feb 12, 2016.
IAMGOLD Corporation (IAMGOLD) is a mid-tier mining company with four operating gold mines on three continents. The Company mines include Rosebel Gold Mine Essakane Gold Mine Sadiola Gold Mine and Yatela Gold Mine. IAMGOLD operates in West Africa the Guiana Shield of South America and Quebec and has a pipeline of development and exploration projects. The Company holds 95% ownership in the Rosebel Gold Mine which is located in the Suriname South America. The Companys 90% owned Essakane Gold Mine mine is located in the Burkina Faso West Africa. The Company holds 40% interest in the Sadiola Gold Mine which is located in the Mali North Western Africa. It also holds 40% interest in the Yatela Gold Mine which is located in the Mali North Western Africa. The Company also holds Greenfield exploration projects which include the Boto Gold Project the Siribaya exploration project and the Monster Lake project.