Cibc World Market Inc. cut its holdings in Iamgold Corporation (NYSE:IAG – Free Report) (TSE:IMG) by 10.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,793,058 shares of the mining company’s stock after selling 210,018 shares during the period. Cibc World Market Inc.’s holdings in Iamgold were worth $29,585,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. Banque Transatlantique SA bought a new position in shares of Iamgold during the second quarter valued at about $26,000. Global Retirement Partners LLC bought a new stake in shares of Iamgold in the 4th quarter valued at about $33,000. FNY Investment Advisers LLC purchased a new stake in Iamgold during the 4th quarter valued at about $38,000. LOM Asset Management Ltd purchased a new stake in Iamgold during the 4th quarter valued at about $49,000. Finally, Banque Cantonale Vaudoise grew its position in Iamgold by 617.8% during the 4th quarter. Banque Cantonale Vaudoise now owns 2,986 shares of the mining company’s stock worth $49,000 after acquiring an additional 2,570 shares during the last quarter. 47.08% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
IAG has been the topic of a number of analyst reports. Zacks Research cut Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. TD Securities restated a “buy” rating on shares of Iamgold in a report on Thursday, February 19th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Iamgold in a research note on Tuesday, April 21st. Wall Street Zen upgraded shares of Iamgold from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. Finally, Scotiabank increased their price target on shares of Iamgold to $25.00 and gave the company a “sector perform” rating in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $17.75.
Iamgold Stock Up 2.4%
Shares of NYSE:IAG opened at $17.23 on Friday. The stock’s 50-day moving average is $17.96 and its 200 day moving average is $18.21. The company has a market cap of $9.96 billion, a PE ratio of 10.02, a P/E/G ratio of 0.81 and a beta of 1.25. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.89 and a quick ratio of 1.21. Iamgold Corporation has a 1 year low of $6.69 and a 1 year high of $24.87.
Iamgold (NYSE:IAG – Get Free Report) (TSE:IMG) last released its quarterly earnings data on Tuesday, May 5th. The mining company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.14. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $955.17 million. Iamgold had a return on equity of 26.65% and a net margin of 29.49%. Sell-side analysts anticipate that Iamgold Corporation will post 2.27 EPS for the current year.
Iamgold Company Profile
IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.
The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.
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