Polar Asset Management Partners Inc. decreased its stake in Iamgold Corporation (NYSE:IAG – Free Report) (TSE:IMG) by 33.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 120,000 shares of the mining company’s stock after selling 60,000 shares during the period. Polar Asset Management Partners Inc.’s holdings in Iamgold were worth $2,253,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mariner LLC grew its position in shares of Iamgold by 0.6% during the 4th quarter. Mariner LLC now owns 110,033 shares of the mining company’s stock valued at $1,814,000 after acquiring an additional 615 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA raised its holdings in shares of Iamgold by 1.9% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 37,000 shares of the mining company’s stock worth $612,000 after purchasing an additional 700 shares during the period. Public Employees Retirement System of Ohio raised its holdings in shares of Iamgold by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 220,452 shares of the mining company’s stock worth $2,849,000 after purchasing an additional 1,303 shares during the period. Northwest & Ethical Investments L.P. lifted its stake in Iamgold by 0.4% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 343,605 shares of the mining company’s stock valued at $5,716,000 after purchasing an additional 1,424 shares during the last quarter. Finally, Franklin Resources Inc. lifted its stake in Iamgold by 4.8% in the fourth quarter. Franklin Resources Inc. now owns 32,011 shares of the mining company’s stock valued at $528,000 after purchasing an additional 1,474 shares during the last quarter. 47.08% of the stock is currently owned by hedge funds and other institutional investors.
Iamgold Trading Up 0.1%
NYSE:IAG opened at $14.68 on Tuesday. The company has a market cap of $8.43 billion, a P/E ratio of 8.53, a P/E/G ratio of 0.65 and a beta of 1.30. The stock’s fifty day moving average price is $16.04 and its two-hundred day moving average price is $18.23. Iamgold Corporation has a 1 year low of $6.69 and a 1 year high of $24.87. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.89 and a quick ratio of 1.21.
Analysts Set New Price Targets
A number of analysts have issued reports on IAG shares. Weiss Ratings downgraded Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Bank of America dropped their price target on Iamgold from $22.50 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Royal Bank Of Canada cut their price target on Iamgold from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Scotiabank decreased their price objective on Iamgold from $25.00 to $22.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Finally, Zacks Research cut Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Iamgold currently has a consensus rating of “Moderate Buy” and an average target price of $19.00.
View Our Latest Stock Report on IAG
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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