IAMGOLD Co. (NYSE:IAG) Stake Lowered by BNP Paribas Financial Markets

BNP Paribas Financial Markets reduced its stake in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 99.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,899 shares of the mining company’s stock after selling 1,511,771 shares during the period. BNP Paribas Financial Markets’ holdings in IAMGOLD were worth $51,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of IAMGOLD by 27.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,289,000 shares of the mining company’s stock valued at $6,654,000 after acquiring an additional 277,000 shares in the last quarter. Triasima Portfolio Management inc. grew its holdings in shares of IAMGOLD by 44.5% during the 4th quarter. Triasima Portfolio Management inc. now owns 352,315 shares of the mining company’s stock valued at $1,820,000 after acquiring an additional 108,524 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new position in shares of IAMGOLD during the 4th quarter valued at $68,000. Franklin Resources Inc. lifted its stake in shares of IAMGOLD by 5.3% in the 4th quarter. Franklin Resources Inc. now owns 36,156 shares of the mining company’s stock valued at $187,000 after purchasing an additional 1,836 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of IAMGOLD by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 274,756 shares of the mining company’s stock valued at $1,435,000 after purchasing an additional 10,468 shares during the last quarter. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on IAG shares. BMO Capital Markets started coverage on shares of IAMGOLD in a research note on Wednesday, April 16th. They issued an “outperform” rating for the company. CIBC lifted their price objective on shares of IAMGOLD from $8.40 to $9.20 and gave the company an “outperformer” rating in a research note on Thursday, May 8th. Scotiabank lifted their price objective on shares of IAMGOLD from $7.50 to $7.75 and gave the company a “sector perform” rating in a research note on Monday, May 12th. National Bank Financial raised shares of IAMGOLD to a “strong-buy” rating in a research note on Friday, March 21st. Finally, Wall Street Zen lowered shares of IAMGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, IAMGOLD presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.74.

IAMGOLD Stock Up 1.1%

IAG stock opened at $7.55 on Wednesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. IAMGOLD Co. has a 52-week low of $3.44 and a 52-week high of $8.38. The company has a 50-day moving average of $6.81 and a two-hundred day moving average of $6.10. The stock has a market capitalization of $4.34 billion, a price-to-earnings ratio of 5.21 and a beta of 1.20.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. The company had revenue of $457.23 million during the quarter, compared to analysts’ expectations of $578.70 million. As a group, equities research analysts anticipate that IAMGOLD Co. will post 0.67 EPS 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.