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.
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.
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.
Metric | Value |
|---|---|
Price (as of Friday) | $17.61 |
Market Capitalization | $10.44 billion |
Revenue (TTM) | $2.23 billion |
Net Income (TTM) | $344.00 million |
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.
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.
