Cibc World Market Inc. Sells 210,018 Shares of Iamgold Corporation $IAG

Cibc World Market Inc. cut its position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 10.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,793,058 shares of the mining company’s stock after selling 210,018 shares during the quarter. Cibc World Market Inc. owned about 0.30% of Iamgold worth $29,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of IAG. Banque Transatlantique SA purchased a new stake in shares of Iamgold in the second quarter worth $26,000. Global Retirement Partners LLC purchased a new position in Iamgold during the fourth quarter worth about $33,000. FNY Investment Advisers LLC bought a new position in Iamgold in the 4th quarter worth about $38,000. LOM Asset Management Ltd bought a new position in Iamgold in the 4th quarter worth about $49,000. Finally, Banque Cantonale Vaudoise raised its holdings in shares of Iamgold by 617.8% in the 4th quarter. Banque Cantonale Vaudoise now owns 2,986 shares of the mining company’s stock valued at $49,000 after acquiring an additional 2,570 shares in the last quarter. 47.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on IAG. Zacks Research lowered Iamgold from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Iamgold in a research note on Tuesday, April 21st. TD Securities reiterated a “buy” rating on shares of Iamgold in a research report on Thursday, February 19th. Wall Street Zen raised shares of Iamgold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Finally, Scotiabank increased their price target on shares of Iamgold to $25.00 and gave the stock a “sector perform” rating in a report on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Iamgold has a consensus rating of “Moderate Buy” and a consensus target price of $17.75.

Iamgold Price Performance

Shares of Iamgold stock opened at $17.23 on Friday. The firm has a market capitalization of $9.96 billion, a PE ratio of 10.02, a price-to-earnings-growth ratio of 0.81 and a beta of 1.25. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.12. Iamgold Corporation has a 12 month low of $6.69 and a 12 month high of $24.87. The business’s 50-day moving average price is $17.96 and its 200-day moving average price is $18.21.

Iamgold (NYSE:IAG) (TSE:IMG) last released its earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $955.17 million. Iamgold had a return on equity of 26.65% and a net margin of 29.49%. Sell-side analysts forecast that Iamgold Corporation will post 2.27 EPS for the current fiscal year.

Iamgold Company 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.