Intact Investment Management Inc. Decreases Stock Position in Iamgold Corporation $IAG

Intact Investment Management Inc. trimmed its position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 20.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,611,841 shares of the mining company’s stock after selling 404,240 shares during the quarter. Intact Investment Management Inc. owned 0.28% of Iamgold worth $20,826,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of IAG. Parallel Advisors LLC lifted its holdings in shares of Iamgold by 272.9% in the 2nd quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company’s stock worth $26,000 after acquiring an additional 2,623 shares during the last quarter. Banque Transatlantique SA bought a new stake in Iamgold in the second quarter worth about $26,000. Tableaux LLC bought a new stake in Iamgold in the second quarter worth about $61,000. Olympiad Research LP purchased a new position in shares of Iamgold during the second quarter valued at approximately $87,000. Finally, Campbell & CO Investment Adviser LLC bought a new position in shares of Iamgold during the second quarter valued at approximately $90,000. Institutional investors own 47.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. CIBC raised their price target on Iamgold from $10.40 to $19.00 and gave the stock an “outperformer” rating in a research note on Friday, October 10th. Zacks Research lowered Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 20th. Scotiabank lifted their target price on Iamgold from $8.50 to $15.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 23rd. Wall Street Zen upgraded shares of Iamgold from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Iamgold in a research note on Thursday. Two research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.25.

Iamgold Price Performance

Shares of IAG stock opened at $20.96 on Monday. Iamgold Corporation has a twelve month low of $5.02 and a twelve month high of $21.17. The stock has a market capitalization of $12.39 billion, a price-to-earnings ratio of 34.93, a P/E/G ratio of 0.30 and a beta of 1.38. The stock has a fifty day simple moving average of $16.29 and a two-hundred day simple moving average of $12.42. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.27.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.21 by $0.09. The firm had revenue of $714.61 million for the quarter, compared to analyst estimates of $759.45 million. Iamgold had a return on equity of 10.39% and a net margin of 15.39%. On average, analysts predict that Iamgold Corporation will post 0.67 EPS for the current fiscal year.

Iamgold 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.