Freedom Investment Management Inc. Has $548,000 Holdings in Iamgold Corporation $IAG

Freedom Investment Management Inc. cut its holdings in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 20.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 74,542 shares of the mining company’s stock after selling 18,597 shares during the quarter. Freedom Investment Management Inc.’s holdings in Iamgold were worth $548,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. acquired a new stake in Iamgold in the first quarter valued at about $647,000. Mudita Advisors LLP boosted its stake in Iamgold by 41.1% in the first quarter. Mudita Advisors LLP now owns 2,081,400 shares of the mining company’s stock valued at $13,002,000 after buying an additional 606,795 shares in the last quarter. U S Global Investors Inc. boosted its stake in shares of Iamgold by 150.0% during the second quarter. U S Global Investors Inc. now owns 500,000 shares of the mining company’s stock valued at $3,675,000 after purchasing an additional 300,000 shares in the last quarter. Cerity Partners LLC boosted its stake in shares of Iamgold by 28.0% during the first quarter. Cerity Partners LLC now owns 75,250 shares of the mining company’s stock valued at $470,000 after purchasing an additional 16,475 shares in the last quarter. Finally, Amundi boosted its stake in shares of Iamgold by 55.7% during the first quarter. Amundi now owns 5,343,801 shares of the mining company’s stock valued at $34,895,000 after purchasing an additional 1,911,840 shares in the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

Iamgold Price Performance

Iamgold stock opened at $11.88 on Friday. Iamgold Corporation has a one year low of $4.89 and a one year high of $14.67. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.47 and a quick ratio of 0.76. The stock’s 50 day moving average is $11.32 and its 200 day moving average is $8.61. The firm has a market cap of $6.83 billion, a P/E ratio of 8.54, a P/E/G ratio of 0.42 and a beta of 1.24.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on IAG shares. Scotiabank lifted their price target on Iamgold from $8.50 to $15.00 and gave the company a “sector perform” rating in a research note on Thursday. CIBC lifted their price target on Iamgold from $10.40 to $19.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. Stifel Canada raised Iamgold from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. Royal Bank Of Canada raised Iamgold from a “sector perform” rating to an “outperform” rating and lifted their price target for the company from $9.00 to $14.00 in a research note on Wednesday, September 10th. Finally, Raymond James Financial lifted their price target on Iamgold from $9.00 to $13.00 and gave the company a “market perform” rating in a research note on Friday, October 10th. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Iamgold presently has a consensus rating of “Buy” and a consensus price target of $15.25.

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.