Atria Wealth Solutions Inc. Acquires Shares of 12,500 Iamgold Corporation $IAG

Atria Wealth Solutions Inc. acquired a new stake in Iamgold Corporation (NYSE:IAG) (TSE:IMG) in the second quarter, Holdings Channel reports. The fund acquired 12,500 shares of the mining company’s stock, valued at approximately $92,000.

Other institutional investors have also recently bought and sold shares of the company. Parallel Advisors LLC boosted its holdings in Iamgold by 272.9% in the 2nd quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company’s stock valued at $26,000 after purchasing an additional 2,623 shares during the period. Summit Securities Group LLC bought a new position in Iamgold in the first quarter valued at approximately $35,000. Avantax Advisory Services Inc. bought a new position in Iamgold in the first quarter valued at approximately $86,000. Vident Advisory LLC bought a new position in Iamgold in the first quarter valued at approximately $92,000. Finally, Integrity Alliance LLC. bought a new position in Iamgold in the first quarter valued at approximately $97,000. Institutional investors own 47.08% of the company’s stock.

Iamgold Price Performance

IAG stock opened at $12.04 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.47 and a quick ratio of 0.76. Iamgold Corporation has a 1 year low of $4.89 and a 1 year high of $14.67. The company has a 50 day simple moving average of $11.24 and a 200 day simple moving average of $8.55. The stock has a market cap of $6.92 billion, a price-to-earnings ratio of 8.66, a P/E/G ratio of 0.43 and a beta of 1.24.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Thursday, August 7th. The mining company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.01). Iamgold had a net margin of 40.61% and a return on equity of 8.54%. The business had revenue of $587.21 million during the quarter, compared to analyst estimates of $663.21 million. Research analysts anticipate that Iamgold Corporation will post 0.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on IAG shares. Stifel Canada raised shares of Iamgold from a “hold” rating to a “strong-buy” rating in a research note on Monday. Royal Bank Of Canada raised shares of Iamgold from a “sector perform” rating to an “outperform” rating and lifted their price objective for the company from $9.00 to $14.00 in a research note on Wednesday, September 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Iamgold in a research note on Wednesday, October 8th. Raymond James Financial lifted their price objective on shares of Iamgold from $9.00 to $13.00 and gave the company a “market perform” rating in a research note on Friday, October 10th. Finally, Zacks Research cut shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $15.25.

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.