Cardinal Point Capital Management ULC Sells 17,800 Shares of Iamgold Corporation $IAG

Cardinal Point Capital Management ULC lessened its holdings in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 29.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 43,250 shares of the mining company’s stock after selling 17,800 shares during the quarter. Cardinal Point Capital Management ULC’s holdings in Iamgold were worth $318,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Cambridge Investment Research Advisors Inc. bought a new stake in shares of Iamgold in the 1st quarter worth about $647,000. Mudita Advisors LLP grew its holdings in shares of Iamgold by 41.1% in the 1st quarter. Mudita Advisors LLP now owns 2,081,400 shares of the mining company’s stock worth $13,002,000 after purchasing an additional 606,795 shares during the last quarter. U S Global Investors Inc. lifted its position in Iamgold by 150.0% during the 2nd quarter. U S Global Investors Inc. now owns 500,000 shares of the mining company’s stock worth $3,675,000 after buying an additional 300,000 shares in the last quarter. Cerity Partners LLC lifted its position in Iamgold by 28.0% during the 1st quarter. Cerity Partners LLC now owns 75,250 shares of the mining company’s stock worth $470,000 after buying an additional 16,475 shares in the last quarter. Finally, Amundi lifted its position in Iamgold by 55.7% during the 1st quarter. Amundi now owns 5,343,801 shares of the mining company’s stock worth $34,895,000 after buying an additional 1,911,840 shares in the last quarter. Institutional investors own 47.08% of the company’s stock.

Iamgold Price Performance

NYSE IAG opened at $11.88 on Friday. The business has a 50 day simple moving average of $11.32 and a 200 day simple moving average of $8.59. Iamgold Corporation has a 52-week low of $4.89 and a 52-week high of $14.67. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.76 and a current ratio of 1.47. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 0.43 and a beta of 1.24.

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. CIBC upped their price target on shares of Iamgold from $10.40 to $19.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Royal Bank Of Canada upgraded shares of Iamgold from a “sector perform” rating to an “outperform” rating and upped their target price for the company from $9.00 to $14.00 in a research report on Wednesday, September 10th. Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a research report on Wednesday, October 8th. Raymond James Financial upped their target price on shares of Iamgold from $9.00 to $13.00 and gave the company a “market perform” rating in a research report on Friday, October 10th. Finally, Zacks Research downgraded shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Three equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given 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.

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.