This Investor Boosted IAMGOLD by 2.6 Million Shares Amid a 240% Rally
Key Points
Prague-based Pale Fire Capital SE increased its IAMGOLD stake by 2.6 million shares in the third quarter.
The position value increased by $41.12 million from the previous period.
As of September 30, the fund reported holding over 3.9 million IAG shares worth $50.8 million, making it the fund's fourth-largest holding.
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Prague-based Pale Fire Capital SE reported a purchase of 2.6 million additional IAMGOLD Corporation shares, increasing its position value by approximately $41.12 million, according to a November 13 SEC filing.
What Happened
According to a filing with the U.S. Securities and Exchange Commission dated November 13, Pale Fire Capital SE added 2.61 million shares of IAMGOLD Corporation (NYSE:IAG) during the third quarter. The increased stake brought the fund’s total holding to 3.93 million shares valued at $50.83 million as of September 30.
What Else to Know
This purchase raised IAMGOLD to 5.56% of Pale Fire Capital SE’s reportable U.S. equity AUM.
Top holdings after the filing:
- NYSEMKT: BTG: $247.58 million (27.14% of AUM)
- NASDAQ: GRPN: $237.73 million (26.06% of AUM)
- NYSE: DOLE: $115.42 million (12.65% of AUM)
- NYSE: IAG: $50.83 million (5.57% of AUM)
- NYSEMKT: NGD: $44.60 million (4.89% of AUM)
As of Friday, IAG shares were priced at $17.61, up a staggering 242% over the past year and vastly outperforming the S&P 500, which is up about 15% in the same period.
Company Overview
| Metric | Value |
|---|---|
| Price (as of Friday) | $17.61 |
| Market Capitalization | $10.44 billion |
| Revenue (TTM) | $2.23 billion |
| Net Income (TTM) | $344.00 million |
Company Snapshot
- IAMGOLD Corporation produces and sells gold, with operations spanning North America, South America, and West Africa. Its primary revenue sources are the Rosebel, Essakane, Westwood, and Côté gold projects.
- The company operates a vertically integrated mining business model, generating revenue through gold extraction, processing, and sales from wholly and jointly owned mining assets and development projects.
IAMGOLD Corporation is a mid-tier gold producer with a diversified asset base and a presence in several key mining regions.
Foolish Take
Big adds during triple-digit gains tend to make investors nervous, but this move matters because it signals conviction in the durability of IAMGOLD’s reset, not just a trade chasing gold prices. Even after its explosive rally, the stock remains well below prior-cycle highs more than a decade ago, suggesting the market is still recalibrating what this company can earn through a full commodity cycle.
Operationally, the narrative has shifted from survival to execution. IAMGOLD’s asset base is no longer defined solely by legacy operations but by a clearer production profile across multiple regions, which helps explain why capital is being redeployed into strength rather than trimmed. Recent results reinforced that theme, with steady production performance and a balance sheet positioned to benefit from higher realized gold prices without the same leverage risk that haunted the company in prior years.
This fund’s portfolio is heavily tilted toward cyclical and commodity-linked names, making IAMGOLD a complementary exposure rather than an outlier. With gold equities historically lagging bullion late in rallies, reallocating toward miners with improving fundamentals can be a rational next step.
Glossary
13F AUM: The total market value of U.S. equity securities reported by an institutional investment manager in SEC Form 13F filings.
Position value: The total market value of a specific investment held by a fund or investor.
Stake: The ownership interest or shareholding a fund or investor has in a company.
Holding: The amount of a particular security or asset owned by a fund or investor.
AUM (Assets Under Management): The total market value of all assets managed by a fund or investment firm.
Reportable U.S. equity AUM: The portion of a fund's assets in U.S. stocks that must be disclosed in regulatory filings.
Vertically integrated: A business model where a company controls multiple stages of its production or supply chain.
Mid-tier gold producer: A mining company with production levels between small junior miners and large major producers.
Jointly owned mining assets: Mining properties or projects owned and operated by two or more companies together.
Development projects: Mining projects that are being explored or constructed but are not yet producing minerals.
TTM: The 12-month period ending with the most recent quarterly report.
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Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends B2Gold. The Motley Fool has a disclosure policy.
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