Ameritas Advisory Services LLC Lowers Holdings in Iamgold Corporation $IAG

Ameritas Advisory Services LLC reduced its position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 43.8% during the 2nd quarter, HoldingsChannel reports. The fund owned 12,850 shares of the mining company’s stock after selling 10,000 shares during the period. Ameritas Advisory Services LLC’s holdings in Iamgold were worth $94,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Parallel Advisors LLC grew its position in shares of Iamgold by 272.9% during the 2nd quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company’s stock valued at $26,000 after acquiring an additional 2,623 shares during the period. Summit Securities Group LLC acquired a new stake in shares of Iamgold during the 1st quarter valued at about $35,000. Avantax Advisory Services Inc. acquired a new stake in shares of Iamgold during the 1st quarter valued at about $86,000. Vident Advisory LLC acquired a new stake in shares of Iamgold during the 1st quarter valued at about $92,000. Finally, Ritholtz Wealth Management acquired a new stake in shares of Iamgold during the 1st quarter valued at about $94,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IAG has been the topic of a number of analyst reports. CIBC raised their target price on Iamgold from $10.40 to $19.00 and gave the company an “outperformer” rating in a research report on Friday. National Bankshares restated an “outperform” rating on shares of Iamgold in a research report on Tuesday, June 24th. Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a research report on Wednesday. Zacks Research lowered shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. Finally, Royal Bank Of Canada raised shares of Iamgold from a “sector perform” rating to an “outperform” rating and raised their price target for the company from $9.00 to $14.00 in a research note on Wednesday, September 10th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.85.

Iamgold Stock Up 0.8%

Shares of NYSE IAG opened at $12.69 on Friday. The company has a 50 day simple moving average of $10.24 and a 200-day simple moving average of $8.11. The company has a market capitalization of $7.30 billion, a P/E ratio of 9.13, a P/E/G ratio of 0.43 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.47 and a quick ratio of 0.76. Iamgold Corporation has a 1 year low of $4.64 and a 1 year high of $13.99.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Thursday, August 7th. The mining company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). The firm had revenue of $587.21 million for the quarter, compared to analyst estimates of $663.21 million. Iamgold had a return on equity of 8.54% and a net margin of 40.61%. On average, equities research analysts predict that Iamgold Corporation will post 0.67 earnings per share for the current year.

Iamgold Company Profile

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.