3,568,627 Shares in Iamgold Corporation (IAG) Acquired by Investec Asset Management LTD

Investec Asset Management LTD acquired a new stake in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,568,627 shares of the mining company’s stock, valued at approximately $13,811,000.

Several other large investors have also recently added to or reduced their stakes in IAG. Commerzbank Aktiengesellschaft FI increased its stake in Iamgold Corporation by 514.8% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 2,758,496 shares of the mining company’s stock valued at $11,420,000 after buying an additional 2,309,796 shares in the last quarter. Donald Smith & CO. Inc. increased its stake in Iamgold Corporation by 892.7% in the second quarter. Donald Smith & CO. Inc. now owns 8,348,447 shares of the mining company’s stock valued at $34,563,000 after buying an additional 7,507,447 shares in the last quarter. Jane Street Group LLC increased its stake in Iamgold Corporation by 194.0% in the second quarter. Jane Street Group LLC now owns 593,882 shares of the mining company’s stock valued at $2,459,000 after buying an additional 391,869 shares in the last quarter. Creative Planning increased its stake in Iamgold Corporation by 371.7% in the third quarter. Creative Planning now owns 89,338 shares of the mining company’s stock valued at $362,000 after buying an additional 70,400 shares in the last quarter. Finally, CIBC Asset Management Inc increased its stake in Iamgold Corporation by 2.2% in the third quarter. CIBC Asset Management Inc now owns 184,694 shares of the mining company’s stock valued at $746,000 after buying an additional 3,973 shares in the last quarter. Hedge funds and other institutional investors own 54.65% of the company’s stock.

Institutional Ownership by Quarter for Iamgold Corporation (NYSE:IAG)

Shares of Iamgold Corporation (NYSE:IAG) traded up 0.21% during trading on Tuesday, reaching $4.75. The company’s stock had a trading volume of 4,895,987 shares. The company’s market cap is $2.14 billion. Iamgold Corporation has a 12-month low of $1.95 and a 12-month high of $5.87. The company has a 50 day moving average of $4.49 and a 200 day moving average of $4.17.

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IAG has been the subject of several recent research reports. Zacks Investment Research downgraded Iamgold Corporation from a “hold” rating to a “sell” rating in a report on Monday, October 17th. Canaccord Genuity upgraded Iamgold Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, October 19th. National Bank Financial upgraded Iamgold Corporation from a “sector perform” rating to an “outperform” rating in a report on Wednesday, October 19th. TD Securities upgraded Iamgold Corporation from a “hold” rating to a “buy” rating in a report on Tuesday, November 8th. Finally, Scotiabank reiterated a “sector perform” rating and set a $5.75 price target on shares of Iamgold Corporation in a report on Tuesday, November 8th. Four analysts have rated the stock with a sell rating, five have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $4.43.

About Iamgold Corporation

IAMGOLD Corporation (IAMGOLD) is engaged in the exploration, development and production of mineral resource properties across the world. Through its holdings, IAMGOLD has interests in various operations and exploration properties, as well as various royalty interests on mineral resource properties. All gold produced by IAMGOLD is in the form of dore bars, which is sold to gold refineries in North America and Europe.

5 Day Chart for NYSE:IAG

Want to see what other hedge funds are holding IAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Iamgold Corporation (NYSE:IAG) (TSE:IMG).

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