Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp decreased its holdings in shares of Iamgold Corp (NYSE:IAG) (TSE:IMG) by 44.1% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 355,600 shares of the mining company’s stock after selling 280,500 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp owned 0.08% of Iamgold worth $1,782,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Maven Securities LTD bought a new stake in shares of Iamgold during the fourth quarter valued at approximately $37,000. Sigma Planning Corp bought a new stake in shares of Iamgold during the fourth quarter valued at approximately $47,000. Stamos Capital Partners L.P. bought a new stake in shares of Iamgold during the fourth quarter valued at approximately $54,000. Hsbc Holdings PLC bought a new stake in shares of Iamgold during the fourth quarter valued at approximately $56,000. Finally, HRT Financial LLC bought a new stake in shares of Iamgold during the third quarter valued at approximately $154,000. 58.01% of the stock is owned by institutional investors.
IAG has been the subject of several analyst reports. Credit Suisse Group reissued a “buy” rating and set a $6.00 price target on shares of Iamgold in a research report on Wednesday, January 16th. ValuEngine cut shares of Iamgold from a “hold” rating to a “sell” rating in a report on Saturday, January 19th. BMO Capital Markets restated a “buy” rating on shares of Iamgold in a report on Friday, February 15th. Canaccord Genuity restated a “buy” rating on shares of Iamgold in a report on Friday, February 15th. Finally, Zacks Investment Research upgraded shares of Iamgold from a “sell” rating to a “hold” rating in a report on Wednesday, December 26th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $5.19.
Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Wednesday, February 20th. The mining company reported ($0.03) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.02). The business had revenue of $274.30 million for the quarter, compared to analysts’ expectations of $273.84 million. Iamgold had a positive return on equity of 1.07% and a negative net margin of 2.54%. The company’s revenue was down 5.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.03) EPS. As a group, equities analysts predict that Iamgold Corp will post 0.06 EPS for the current year.
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Iamgold Company Profile
IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine in Burkina Faso, West Africa; the Westwood mine in Quebec, Canada; and the Sadiola mine located in Mali, West Africa.
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