Iamgold Corporation $IAG Position Reduced by PCJ Investment Counsel Ltd.

PCJ Investment Counsel Ltd. reduced its position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 25.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 434,930 shares of the mining company’s stock after selling 149,210 shares during the period. PCJ Investment Counsel Ltd.’s holdings in Iamgold were worth $3,206,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in IAG. Bank of New York Mellon Corp lifted its holdings in shares of Iamgold by 40.6% in the first quarter. Bank of New York Mellon Corp now owns 49,282 shares of the mining company’s stock valued at $308,000 after purchasing an additional 14,236 shares in the last quarter. Alps Advisors Inc. acquired a new position in shares of Iamgold in the first quarter worth $840,000. Cerity Partners LLC raised its stake in shares of Iamgold by 28.0% during the 1st quarter. Cerity Partners LLC now owns 75,250 shares of the mining company’s stock worth $470,000 after purchasing an additional 16,475 shares in the last quarter. Apollon Wealth Management LLC raised its position in Iamgold by 74.2% during the first quarter. Apollon Wealth Management LLC now owns 35,229 shares of the mining company’s stock valued at $220,000 after acquiring an additional 15,000 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Iamgold in the 1st quarter valued at $3,975,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Iamgold Stock Performance

Shares of NYSE IAG opened at $12.68 on Friday. Iamgold Corporation has a 12 month low of $4.89 and a 12 month high of $14.67. The company has a market cap of $7.30 billion, a P/E ratio of 9.12, a P/E/G ratio of 0.39 and a beta of 1.22. The business’s 50 day moving average is $11.92 and its two-hundred day moving average is $8.92. The company has a quick ratio of 0.76, a current ratio of 1.47 and a debt-to-equity ratio of 0.31.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.09. Iamgold had a net margin of 40.61% and a return on equity of 8.54%. The business had revenue of $714.61 million for the quarter, compared to the consensus estimate of $759.45 million. On average, equities analysts expect that Iamgold Corporation will post 0.67 EPS for the current year.

Analysts Set New Price Targets

IAG has been the subject of several recent analyst reports. Scotiabank upped their price target on Iamgold from $8.50 to $15.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. Raymond James Financial upped their target price on Iamgold from $9.00 to $13.00 and gave the stock a “market perform” rating in a research report on Friday, October 10th. Wall Street Zen upgraded Iamgold from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Research lowered shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Finally, CIBC upped their price objective on shares of Iamgold from $10.40 to $19.00 and gave the stock an “outperformer” rating in a report on Friday, October 10th. Three equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $15.25.

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.