Polar Asset Management Partners Inc. Sells 60,000 Shares of Iamgold Corporation $IAG

Polar Asset Management Partners Inc. cut its position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 33.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 120,000 shares of the mining company’s stock after selling 60,000 shares during the quarter. Polar Asset Management Partners Inc.’s holdings in Iamgold were worth $2,253,000 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 position in shares of Iamgold during the 2nd quarter valued at $26,000. Pin Oak Investment Advisors Inc. purchased a new stake in shares of Iamgold in the fourth quarter worth $30,000. Global Retirement Partners LLC purchased a new stake in shares of Iamgold in the fourth quarter worth $33,000. FNY Investment Advisers LLC purchased a new stake in shares of Iamgold in the fourth quarter worth $38,000. Finally, LOM Asset Management Ltd bought a new stake in Iamgold during the fourth quarter valued at $49,000. 47.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

IAG has been the topic of a number of research analyst reports. Scotiabank decreased their target price on Iamgold from $25.00 to $22.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. Bank of America dropped their price target on Iamgold from $22.50 to $21.00 and set a “buy” rating for the company in a research report on Thursday, July 9th. Royal Bank Of Canada cut their price objective on Iamgold from $22.00 to $20.00 and set an “outperform” rating for the company in a report on Thursday, July 9th. Wall Street Zen cut shares of Iamgold from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Finally, Weiss Ratings downgraded shares of Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Iamgold has an average rating of “Moderate Buy” and a consensus target price of $19.00.

Iamgold Stock Up 0.1%

Shares of NYSE:IAG opened at $14.68 on Tuesday. Iamgold Corporation has a 52-week low of $6.69 and a 52-week high of $24.87. The firm has a fifty day moving average of $16.04 and a 200 day moving average of $18.23. The firm has a market capitalization of $8.43 billion, a PE ratio of 8.53, a price-to-earnings-growth ratio of 0.65 and a beta of 1.30. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.89.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. Iamgold had a return on equity of 26.65% and a net margin of 29.49%.The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $955.17 million. As a group, research analysts anticipate that Iamgold Corporation will post 1.98 EPS 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.