Iamgold Corporation $IAG Shares Sold by Trek Financial LLC

Trek Financial LLC trimmed its holdings in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 85.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 151,050 shares of the mining company’s stock after selling 917,960 shares during the period. Trek Financial LLC’s holdings in Iamgold were worth $1,953,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Royal Bank of Canada boosted its position in shares of Iamgold by 14.0% in the first quarter. Royal Bank of Canada now owns 691,322 shares of the mining company’s stock worth $4,321,000 after buying an additional 84,939 shares during the period. Goldman Sachs Group Inc. lifted its position in Iamgold by 6.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,420,263 shares of the mining company’s stock worth $15,127,000 after acquiring an additional 144,160 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Iamgold by 67.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,005,292 shares of the mining company’s stock worth $6,283,000 after acquiring an additional 404,645 shares during the period. Parallel Advisors LLC boosted its holdings in Iamgold by 272.9% in the 2nd quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company’s stock worth $26,000 after acquiring an additional 2,623 shares during the period. Finally, Public Employees Retirement System of Ohio grew its position in Iamgold by 9.8% in the second quarter. Public Employees Retirement System of Ohio now owns 219,149 shares of the mining company’s stock valued at $1,611,000 after acquiring an additional 19,588 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on IAG. Zacks Research cut shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Scotiabank lifted their price target on shares of Iamgold from $8.50 to $15.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 23rd. Weiss Ratings reiterated a “buy (b)” rating on shares of Iamgold in a report on Thursday. Raymond James Financial upped their price objective 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, CIBC lifted their target price on Iamgold from $10.40 to $19.00 and gave the stock an “outperformer” rating in a research report on Friday, October 10th. Two investment 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. According to MarketBeat, Iamgold currently has a consensus rating of “Moderate Buy” and an average price target of $15.25.

Iamgold Trading Up 4.6%

IAG opened at $20.96 on Friday. Iamgold Corporation has a 12-month low of $5.02 and a 12-month high of $21.17. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.68 and a quick ratio of 0.95. The stock has a market capitalization of $12.39 billion, a PE ratio of 34.93, a P/E/G ratio of 0.30 and a beta of 1.38. The firm’s fifty day moving average price is $16.29 and its 200 day moving average price is $12.38.

Iamgold (NYSE:IAG) (TSE:IMG) last released its 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 company had revenue of $714.61 million during the quarter, compared to the consensus estimate of $759.45 million. Iamgold had a net margin of 15.39% and a return on equity of 10.39%. As a group, research analysts expect that Iamgold Corporation will post 0.67 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.