Iamgold Corporation $IAG Shares Sold by Trek Financial LLC

Trek Financial LLC trimmed its position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 85.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 151,050 shares of the mining company’s stock after selling 917,960 shares during the quarter. Trek Financial LLC’s holdings in Iamgold were worth $1,953,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in Iamgold by 14.0% in the first quarter. Royal Bank of Canada now owns 691,322 shares of the mining company’s stock worth $4,321,000 after purchasing an additional 84,939 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Iamgold by 6.3% during the first quarter. Goldman Sachs Group Inc. now owns 2,420,263 shares of the mining company’s stock worth $15,127,000 after purchasing an additional 144,160 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Iamgold by 67.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,005,292 shares of the mining company’s stock worth $6,283,000 after buying an additional 404,645 shares during the last quarter. Parallel Advisors LLC lifted 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 buying an additional 2,623 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its holdings in shares of Iamgold by 9.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 219,149 shares of the mining company’s stock valued at $1,611,000 after buying an additional 19,588 shares during the period. 47.08% of the stock is currently owned by institutional investors.

Iamgold Price Performance

NYSE IAG opened at $20.96 on Friday. The company has a 50-day moving average price of $16.29 and a two-hundred day moving average price of $12.38. Iamgold Corporation has a 52 week low of $5.02 and a 52 week high of $21.17. The stock has a market cap of $12.39 billion, a price-to-earnings ratio of 34.93, a price-to-earnings-growth ratio of 0.30 and a beta of 1.38. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.27.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. The company had revenue of $714.61 million for the quarter, compared to analysts’ expectations of $759.45 million. Iamgold had a return on equity of 10.39% and a net margin of 15.39%. Analysts forecast that Iamgold Corporation will post 0.67 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on IAG. Raymond James Financial increased their price objective on shares of Iamgold from $9.00 to $13.00 and gave the stock a “market perform” rating in a research note on Friday, October 10th. Scotiabank lifted their target price on Iamgold from $8.50 to $15.00 and gave the company a “sector perform” rating in a research note on Thursday, October 23rd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Iamgold in a report on Thursday. Zacks Research downgraded Iamgold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Finally, Wall Street Zen upgraded Iamgold from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Two research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Iamgold currently has an average rating of “Moderate Buy” and a consensus target price of $15.25.

Iamgold Company Profile

IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.

The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.