Y Intercept Hong Kong Ltd Sells 70,293 Shares of Iamgold Corporation $IAG

Y Intercept Hong Kong Ltd cut its holdings in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 28.6% in the third quarter, HoldingsChannel reports. The firm owned 175,254 shares of the mining company’s stock after selling 70,293 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Iamgold were worth $2,266,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Banque Transatlantique SA bought a new position in Iamgold during the second quarter valued at about $26,000. Tableaux LLC acquired a new position in shares of Iamgold during the 2nd quarter valued at about $61,000. Olympiad Research LP bought a new position in shares of Iamgold in the 2nd quarter valued at approximately $87,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Iamgold in the 2nd quarter valued at approximately $90,000. Finally, Kingsview Wealth Management LLC bought a new stake in Iamgold during the second quarter worth approximately $90,000. 47.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

IAG has been the topic of a number of recent analyst reports. Weiss Ratings reissued a “buy (b)” rating on shares of Iamgold in a research report on Thursday, January 22nd. CIBC lifted their target price on shares of Iamgold from $10.40 to $19.00 and gave the stock an “outperformer” rating in a report on Friday, October 10th. Raymond James Financial upped their price target on shares of Iamgold from $9.00 to $13.00 and gave the company a “market perform” rating in a report on Friday, October 10th. Zacks Research cut Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Finally, Stifel Nicolaus raised Iamgold from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Two analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Iamgold presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.25.

Iamgold Stock Performance

NYSE:IAG opened at $22.08 on Thursday. The firm’s 50-day moving average is $16.76 and its 200-day moving average is $12.68. The company has a market cap of $13.05 billion, a price-to-earnings ratio of 36.80, a PEG ratio of 0.31 and a beta of 1.38. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.95 and a current ratio of 1.68. Iamgold Corporation has a 52-week low of $5.02 and a 52-week high of $22.23.

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

About Iamgold

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.