Leuthold Group LLC Lowers Holdings in Iamgold Corporation $IAG

Leuthold Group LLC cut its holdings in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 1.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 818,737 shares of the mining company’s stock after selling 12,823 shares during the period. Leuthold Group LLC owned 0.14% of Iamgold worth $6,018,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Parallel Advisors LLC grew its stake in Iamgold by 272.9% during the second quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company’s stock valued at $26,000 after acquiring an additional 2,623 shares in the last quarter. Summit Securities Group LLC purchased a new stake in Iamgold in the 1st quarter worth $35,000. Tableaux LLC bought a new position in shares of Iamgold during the 2nd quarter valued at about $61,000. Avantax Advisory Services Inc. purchased a new position in shares of Iamgold during the first quarter valued at about $86,000. Finally, Olympiad Research LP purchased a new position in shares of Iamgold during the second quarter valued at about $87,000. 47.08% of the stock is currently owned by institutional investors.

Iamgold Price Performance

IAG stock opened at $15.67 on Friday. Iamgold Corporation has a 12 month low of $4.98 and a 12 month high of $15.60. The company has a current ratio of 1.47, a quick ratio of 0.76 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $12.98 and a 200 day moving average price of $9.67. The stock has a market cap of $9.02 billion, a PE ratio of 11.27, a P/E/G ratio of 0.39 and a beta of 1.22.

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

Analyst Ratings Changes

IAG has been the topic of a number of research analyst reports. Zacks Research downgraded Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Raymond James Financial lifted their price objective on Iamgold from $9.00 to $13.00 and gave the stock a “market perform” rating in a research note on Friday, October 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Iamgold in a research report on Wednesday, October 8th. CIBC raised their target price on shares of Iamgold from $10.40 to $19.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Finally, Royal Bank Of Canada upgraded shares of Iamgold from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $9.00 to $14.00 in a research report on Wednesday, September 10th. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $15.25.

Iamgold 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.