Iamgold Corporation $IAG Shares Sold by Synergy Asset Management LLC

Synergy Asset Management LLC reduced its position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 15.5% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 16,725 shares of the mining company’s stock after selling 3,072 shares during the period. Synergy Asset Management LLC’s holdings in Iamgold were worth $123,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Parallel Advisors LLC grew its position in shares of Iamgold by 272.9% in the 2nd quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company’s stock worth $26,000 after acquiring an additional 2,623 shares in the last quarter. Summit Securities Group LLC acquired a new position in Iamgold in the first quarter worth $35,000. Alpha Omega Wealth Management LLC bought a new stake in Iamgold during the first quarter valued at $75,000. Avantax Advisory Services Inc. acquired a new stake in shares of Iamgold during the first quarter worth $86,000. Finally, Vident Advisory LLC acquired a new stake in shares of Iamgold during the first quarter worth $92,000. Institutional investors own 47.08% of the company’s stock.

Iamgold Price Performance

NYSE IAG opened at $13.29 on Friday. The company has a 50-day moving average price of $9.62 and a two-hundred day moving average price of $7.87. Iamgold Corporation has a 52 week low of $4.44 and a 52 week high of $13.37. The stock has a market cap of $7.64 billion, a price-to-earnings ratio of 9.56, a price-to-earnings-growth ratio of 0.45 and a beta of 1.24. The company has a current ratio of 1.47, a quick ratio of 0.76 and a debt-to-equity ratio of 0.31.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data 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 return on equity of 8.54% and a net margin of 40.61%.The business had revenue of $587.21 million for the quarter, compared to analyst estimates of $663.21 million. Analysts forecast that Iamgold Corporation will post 0.67 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the stock. Raymond James Financial raised shares of Iamgold to a “hold” rating and set a $8.00 price target for the company in a report on Monday, June 30th. Weiss Ratings reissued a “buy (b)” rating on shares of Iamgold in a report on Saturday, September 27th. CIBC reaffirmed an “outperform” rating on shares of Iamgold in a report on Tuesday, July 15th. National Bankshares reiterated an “outperform” rating on shares of Iamgold in a research report on Tuesday, June 24th. Finally, Royal Bank Of Canada raised Iamgold from a “sector perform” rating to an “outperform” rating and raised their price target for the stock from $9.00 to $14.00 in a report on Wednesday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $10.13.

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.