Swiss National Bank Lowers Stake in IAMGOLD Co. (NYSE:IAG)

Swiss National Bank reduced its holdings in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 10.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 991,000 shares of the mining company’s stock after selling 113,000 shares during the period. Swiss National Bank owned approximately 0.21% of IAMGOLD worth $2,702,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. HBK Sorce Advisory LLC purchased a new stake in shares of IAMGOLD in the fourth quarter valued at about $28,000. Citigroup Inc. purchased a new stake in shares of IAMGOLD in the first quarter valued at about $31,000. Jupiter Asset Management Ltd. purchased a new stake in shares of IAMGOLD in the fourth quarter valued at about $37,000. First Trust Advisors LP purchased a new stake in shares of IAMGOLD in the first quarter valued at about $40,000. Finally, Private Advisor Group LLC purchased a new stake in shares of IAMGOLD in the first quarter valued at about $41,000. 49.40% of the stock is owned by hedge funds and other institutional investors.

IAMGOLD Stock Down 1.2 %

Shares of NYSE IAG opened at $2.43 on Tuesday. The company has a quick ratio of 1.87, a current ratio of 2.38 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of 81.03, a price-to-earnings-growth ratio of 1.45 and a beta of 1.47. The firm has a 50-day moving average price of $2.54 and a 200 day moving average price of $2.67. IAMGOLD Co. has a 52 week low of $0.92 and a 52 week high of $3.34.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its earnings results on Friday, August 11th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $238.80 million during the quarter. IAMGOLD had a net margin of 1.99% and a negative return on equity of 0.05%. During the same quarter in the previous year, the firm posted ($0.01) EPS. Equities research analysts anticipate that IAMGOLD Co. will post 0.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. StockNews.com assumed coverage on shares of IAMGOLD in a report on Thursday, August 17th. They issued a “hold” rating on the stock. TD Securities lowered their target price on shares of IAMGOLD from $6.00 to $5.50 and set a “buy” rating on the stock in a report on Monday, August 14th. Finally, CSFB reduced their price objective on shares of IAMGOLD from $3.00 to $2.50 and set a “neutral” rating for the company in a research note on Thursday, August 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $3.03.

About IAMGOLD

IAMGOLD Corporation, through its subsidiaries, explores, develops, and operates gold mining properties in North America and West Africa. The company owns 100% interest in the Westwood mine, covers an area of 1,925 hectare and located in Quebec and the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and 90% interests in the Essakane mine situated in Burkina Faso and Boto gold project located in Senegal, West Africa.