Charles Schwab Investment Management Inc. Sells 224,602 Shares of IAMGOLD Co. (NYSE:IAG)

Charles Schwab Investment Management Inc. lowered its holdings in shares of IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 11.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,770,161 shares of the mining company's stock after selling 224,602 shares during the period. Charles Schwab Investment Management Inc. owned 0.31% of IAMGOLD worth $9,289,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of IAG. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of IAMGOLD by 158.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company's stock worth $24,301,000 after acquiring an additional 2,839,556 shares during the period. PCJ Investment Counsel Ltd. boosted its holdings in shares of IAMGOLD by 213.1% during the third quarter. PCJ Investment Counsel Ltd. now owns 942,900 shares of the mining company's stock worth $4,942,000 after acquiring an additional 641,750 shares during the period. CIBC Asset Management Inc boosted its holdings in shares of IAMGOLD by 2.6% during the third quarter. CIBC Asset Management Inc now owns 698,107 shares of the mining company's stock worth $3,661,000 after acquiring an additional 17,608 shares during the period. Aigen Investment Management LP boosted its holdings in shares of IAMGOLD by 10.6% during the third quarter. Aigen Investment Management LP now owns 70,244 shares of the mining company's stock worth $368,000 after acquiring an additional 6,704 shares during the period. Finally, GSA Capital Partners LLP acquired a new stake in shares of IAMGOLD in the third quarter valued at approximately $296,000. Institutional investors own 47.08% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Scotiabank lifted their price target on shares of IAMGOLD from $4.75 to $5.50 and gave the company a "sector perform" rating in a research report on Monday, August 19th. StockNews.com upgraded shares of IAMGOLD from a "hold" rating to a "buy" rating in a research report on Monday, November 11th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $6.00 price target on shares of IAMGOLD in a research report on Tuesday, October 22nd. Cibc World Mkts upgraded shares of IAMGOLD from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 2nd. Finally, CIBC upgraded shares of IAMGOLD from a "neutral" rating to a "sector outperform" rating in a research report on Monday, December 2nd. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $6.68.

IAMGOLD Price Performance

Shares of NYSE IAG traded up $0.08 during midday trading on Tuesday, reaching $5.63. 5,674,311 shares of the company were exchanged, compared to its average volume of 8,895,978. The stock's 50-day moving average price is $5.36 and its 200-day moving average price is $4.72. The stock has a market cap of $3.21 billion, a P/E ratio of 4.32 and a beta of 1.56. IAMGOLD Co. has a one year low of $2.11 and a one year high of $6.37. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24.

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.