Barclays PLC Cuts Position in IAMGOLD Co. (NYSE:IAG)

Barclays PLC lessened its stake in shares of IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 23.5% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 497,377 shares of the mining company's stock after selling 152,605 shares during the period. Barclays PLC owned about 0.09% of IAMGOLD worth $2,601,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. ORG Partners LLC purchased a new position in shares of IAMGOLD during the 3rd quarter valued at $29,000. Eastern Bank bought a new stake in IAMGOLD in the 3rd quarter valued at about $30,000. Aigen Investment Management LP lifted its holdings in IAMGOLD by 10.6% during the third quarter. Aigen Investment Management LP now owns 70,244 shares of the mining company's stock valued at $368,000 after purchasing an additional 6,704 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in IAMGOLD by 3.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 306,980 shares of the mining company's stock worth $1,154,000 after purchasing an additional 8,972 shares during the period. Finally, TIAA Trust National Association purchased a new position in shares of IAMGOLD in the second quarter worth about $38,000. Institutional investors own 47.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on IAG shares. StockNews.com upgraded shares of IAMGOLD from a "hold" rating to a "buy" rating in a research note on Monday, November 11th. Cibc World Mkts upgraded IAMGOLD from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 2nd. Canaccord Genuity Group raised IAMGOLD from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. CIBC upgraded IAMGOLD from a "neutral" rating to a "sector outperform" rating in a research note on Monday, December 2nd. Finally, National Bank Financial upgraded IAMGOLD from a "sector perform" rating to an "outperform" rating in a research note on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $6.68.

IAMGOLD Price Performance

IAMGOLD stock traded down $0.03 during midday trading on Wednesday, hitting $5.15. 3,585,478 shares of the company's stock were exchanged, compared to its average volume of 8,814,977. The company has a market cap of $2.94 billion, a P/E ratio of 4.02 and a beta of 1.56. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. The stock has a 50-day moving average price of $5.46 and a two-hundred day moving average price of $4.83. IAMGOLD Co. has a 52-week low of $2.23 and a 52-week high of $6.37.

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.