Iamgold Corporation $IAG Shares Sold by Headlands Technologies LLC

Headlands Technologies LLC cut its position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 44.0% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 57,744 shares of the mining company’s stock after selling 45,334 shares during the quarter. Headlands Technologies LLC’s holdings in Iamgold were worth $915,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mariner LLC boosted its position in shares of Iamgold by 0.6% during the fourth quarter. Mariner LLC now owns 110,033 shares of the mining company’s stock worth $1,814,000 after buying an additional 615 shares during the period. Towarzystwo Funduszy Inwestycyjnych PZU SA increased its position in Iamgold by 1.9% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 37,000 shares of the mining company’s stock valued at $612,000 after acquiring an additional 700 shares during the period. Sigma Planning Corp raised its stake in Iamgold by 1.9% during the 2nd quarter. Sigma Planning Corp now owns 41,660 shares of the mining company’s stock valued at $660,000 after acquiring an additional 765 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Iamgold by 73.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 2,712 shares of the mining company’s stock valued at $51,000 after acquiring an additional 1,150 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its position in Iamgold by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 220,452 shares of the mining company’s stock worth $2,849,000 after acquiring an additional 1,303 shares during the period. Institutional investors own 47.08% of the company’s stock.

Analysts Set New Price Targets

IAG has been the subject of several recent analyst reports. Jefferies Financial Group started coverage on Iamgold in a research note on Thursday, August 20th. They issued a “buy” rating and a $24.00 price target for the company. Royal Bank Of Canada reduced their price objective on shares of Iamgold from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Scotiabank increased their target price on shares of Iamgold from $22.00 to $23.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 12th. Bank of America lowered their target price on shares of Iamgold from $22.50 to $21.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Finally, Weiss Ratings cut shares of Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 9th. Two equities research 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. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $20.00.

Iamgold Price Performance

NYSE:IAG opened at $19.27 on Wednesday. The business’s 50-day moving average price is $16.81 and its 200 day moving average price is $18.05. The firm has a market cap of $11.01 billion, a P/E ratio of 9.73, a PEG ratio of 1.08 and a beta of 1.40. Iamgold Corporation has a 52-week low of $9.15 and a 52-week high of $24.87. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 0.10.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Thursday, August 6th. The mining company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. Iamgold had a net margin of 31.40% and a return on equity of 28.97%. The company had revenue of $845.97 million during the quarter, compared to the consensus estimate of $882.92 million. As a group, sell-side analysts predict that Iamgold Corporation will post 1.92 earnings per share 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.