Atria Wealth Solutions Inc. Invests $92,000 in Iamgold Corporation $IAG

Atria Wealth Solutions Inc. purchased a new position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 12,500 shares of the mining company’s stock, valued at approximately $92,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Parallel Advisors LLC boosted its position in shares of Iamgold by 272.9% during the second quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company’s stock worth $26,000 after purchasing an additional 2,623 shares in the last quarter. Hsbc Holdings PLC boosted its position in shares of Iamgold by 17.8% during the first quarter. Hsbc Holdings PLC now owns 19,973 shares of the mining company’s stock worth $125,000 after purchasing an additional 3,020 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of Iamgold by 10.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 36,901 shares of the mining company’s stock worth $271,000 after purchasing an additional 3,562 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of Iamgold during the first quarter worth $35,000. Finally, Harvest Portfolios Group Inc. boosted its position in shares of Iamgold by 6.7% during the first quarter. Harvest Portfolios Group Inc. now owns 91,349 shares of the mining company’s stock worth $570,000 after purchasing an additional 5,755 shares in the last quarter. 47.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IAG has been the topic of a number of research analyst reports. Royal Bank Of Canada upgraded shares of Iamgold from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $9.00 to $14.00 in a report on Wednesday, September 10th. CIBC raised their price objective on shares of Iamgold from $10.40 to $19.00 and gave the stock an “outperformer” rating in a report on Friday, October 10th. Raymond James Financial raised their price objective on shares of Iamgold from $9.00 to $13.00 and gave the stock a “market perform” rating in a report on Friday, October 10th. Stifel Canada upgraded shares of Iamgold from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, Iamgold has a consensus rating of “Buy” and an average target price of $15.25.

Iamgold Stock Down 0.1%

Shares of IAG stock opened at $12.04 on Friday. The company has a current ratio of 1.47, a quick ratio of 0.76 and a debt-to-equity ratio of 0.31. Iamgold Corporation has a 1 year low of $4.89 and a 1 year high of $14.67. The firm’s fifty day moving average price is $11.24 and its two-hundred day moving average price is $8.55. The firm has a market capitalization of $6.92 billion, a P/E ratio of 8.66, a PEG ratio of 0.43 and a beta of 1.24.

Iamgold (NYSE:IAG) (TSE:IMG) last issued 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). The firm had revenue of $587.21 million during the quarter, compared to the consensus estimate of $663.21 million. Iamgold had a net margin of 40.61% and a return on equity of 8.54%. On average, equities analysts predict that Iamgold Corporation will post 0.67 EPS for the current fiscal year.

Iamgold Company Profile

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.