Freedom Investment Management Inc. Has $548,000 Stake in Iamgold Corporation $IAG

Freedom Investment Management Inc. reduced its holdings in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 20.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 74,542 shares of the mining company’s stock after selling 18,597 shares during the period. Freedom Investment Management Inc.’s holdings in Iamgold were worth $548,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Parallel Advisors LLC boosted its position in Iamgold by 272.9% in the second quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company’s stock valued at $26,000 after buying an additional 2,623 shares in the last quarter. Summit Securities Group LLC bought a new stake in Iamgold during the 1st quarter worth about $35,000. Atria Wealth Solutions Inc. acquired a new position in Iamgold in the second quarter valued at approximately $92,000. Avantax Advisory Services Inc. bought a new position in shares of Iamgold in the 1st quarter worth $86,000. Finally, Vident Advisory LLC acquired a new position in shares of Iamgold during the 1st quarter worth about $92,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Iamgold Stock Down 1.4%

IAG stock opened at $11.88 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.47 and a quick ratio of 0.76. The stock has a market capitalization of $6.83 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 0.42 and a beta of 1.24. The business’s fifty day moving average price is $11.32 and its two-hundred day moving average price is $8.61. Iamgold Corporation has a fifty-two week low of $4.89 and a fifty-two week high of $14.67.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Thursday, August 7th. The mining company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). The firm had revenue of $587.21 million for the quarter, compared to the consensus estimate of $663.21 million. Iamgold had a return on equity of 8.54% and a net margin of 40.61%. On average, equities analysts anticipate that Iamgold Corporation will post 0.67 earnings per share for the current year.

Wall Street Analyst Weigh In

IAG has been the subject of a number of research analyst reports. CIBC boosted their target price on Iamgold from $10.40 to $19.00 and gave the company an “outperformer” rating in a research note on Friday, October 10th. Scotiabank upped their price target on Iamgold from $8.50 to $15.00 and gave the stock a “sector perform” rating in a research report on Thursday. Royal Bank Of Canada raised Iamgold from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $9.00 to $14.00 in a report on Wednesday, September 10th. Zacks Research cut Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. Finally, Raymond James Financial increased their price target on Iamgold from $9.00 to $13.00 and gave the company a “market perform” rating in a research note on Friday, October 10th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Iamgold has an average rating of “Buy” and a consensus price target 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.