Groupe la Francaise Decreases Position in Iamgold Corporation $IAG

Groupe la Francaise trimmed its holdings in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 45.5% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 300,000 shares of the mining company’s stock after selling 250,000 shares during the quarter. Groupe la Francaise’s holdings in Iamgold were worth $2,199,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Avantax Advisory Services Inc. acquired a new position in shares of Iamgold in the 1st quarter valued at $86,000. Cetera Investment Advisers raised its stake in Iamgold by 2.5% during the 1st quarter. Cetera Investment Advisers now owns 311,376 shares of the mining company’s stock worth $1,946,000 after acquiring an additional 7,677 shares in the last quarter. Associated Banc Corp purchased a new stake in Iamgold in the first quarter valued at $142,000. Vanguard Group Inc. boosted its stake in Iamgold by 1.7% in the first quarter. Vanguard Group Inc. now owns 21,594,479 shares of the mining company’s stock valued at $134,764,000 after acquiring an additional 361,608 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in shares of Iamgold by 20.8% during the first quarter. Deutsche Bank AG now owns 1,635,502 shares of the mining company’s stock worth $10,222,000 after purchasing an additional 281,674 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Iamgold Trading Up 0.4%

NYSE:IAG opened at $15.05 on Thursday. The firm has a market cap of $8.66 billion, a P/E ratio of 25.08, a PEG ratio of 0.44 and a beta of 1.39. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.27. The stock’s 50 day simple moving average is $13.18 and its 200-day simple moving average is $9.85. Iamgold Corporation has a 12-month low of $4.98 and a 12-month high of $15.80.

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

Wall Street Analyst Weigh In

IAG has been the subject of several research reports. Zacks Research downgraded Iamgold from a “strong-buy” rating to a “hold” rating in a report on Friday, August 15th. Scotiabank boosted their price objective on Iamgold from $8.50 to $15.00 and gave the company a “sector perform” rating in a research note on Thursday, October 23rd. CIBC increased their price objective on Iamgold from $10.40 to $19.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Raymond James Financial lifted their target price on shares of Iamgold from $9.00 to $13.00 and gave the company a “market perform” 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 upped their price target for the company from $9.00 to $14.00 in a research report on Wednesday, September 10th. Two investment 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 company’s stock. According to MarketBeat.com, Iamgold presently has an average rating of “Moderate Buy” and a consensus target price of $15.25.

About Iamgold

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.