Intact Investment Management Inc. Cuts Stock Position in IAMGOLD Co. (NYSE:IAG)

Intact Investment Management Inc. reduced its stake in shares of IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 19.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,058,010 shares of the mining company's stock after selling 255,090 shares during the period. Intact Investment Management Inc. owned about 0.19% of IAMGOLD worth $5,547,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp boosted its holdings in IAMGOLD by 8.8% in the 3rd quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company's stock worth $276,639,000 after buying an additional 4,267,084 shares during the period. Donald Smith & CO. Inc. boosted its holdings in shares of IAMGOLD by 0.8% in the first quarter. Donald Smith & CO. Inc. now owns 36,077,268 shares of the mining company's stock worth $120,137,000 after acquiring an additional 298,959 shares during the period. Vanguard Group Inc. grew its position in shares of IAMGOLD by 1.0% in the first quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company's stock valued at $58,871,000 after purchasing an additional 168,302 shares in the last quarter. Millennium Management LLC raised its stake in shares of IAMGOLD by 194.2% during the 2nd quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company's stock valued at $29,573,000 after purchasing an additional 5,204,715 shares during the period. Finally, American Century Companies Inc. lifted its holdings in IAMGOLD by 28.6% during the 2nd quarter. American Century Companies Inc. now owns 5,708,298 shares of the mining company's stock worth $21,423,000 after purchasing an additional 1,270,608 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors.

IAMGOLD Stock Up 0.8 %

IAG traded up $0.04 during trading on Tuesday, hitting $5.33. 6,059,457 shares of the company's stock traded hands, compared to its average volume of 9,077,669. IAMGOLD Co. has a 12-month low of $2.11 and a 12-month high of $6.37. The company's 50 day simple moving average is $5.25 and its two-hundred day simple moving average is $4.47. The stock has a market capitalization of $3.04 billion, a price-to-earnings ratio of 21.16 and a beta of 1.57. The company has a current ratio of 1.34, a quick ratio of 0.90 and a debt-to-equity ratio of 0.30.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last issued its earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.08. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. The company had revenue of $385.30 million for the quarter. During the same quarter in the prior year, the business posted ($0.01) EPS. Analysts predict that IAMGOLD Co. will post 0.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on IAG. National Bank Financial raised IAMGOLD from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 10th. CIBC increased their target price on shares of IAMGOLD from $5.40 to $6.40 and gave the stock a "neutral" rating in a research note on Tuesday, October 22nd. StockNews.com upgraded shares of IAMGOLD from a "sell" rating to a "hold" rating in a research report on Saturday, August 17th. Canaccord Genuity Group upgraded IAMGOLD from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada reissued a "sector perform" rating and set a $6.00 price objective on shares of IAMGOLD in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $6.68.

IAMGOLD 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.