Bayesian Capital Management LP Sells 191,200 Shares of IAMGOLD Co. (NYSE:IAG)

Bayesian Capital Management LP trimmed its holdings in IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 85.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 33,100 shares of the mining company's stock after selling 191,200 shares during the period. Bayesian Capital Management LP's holdings in IAMGOLD were worth $171,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of IAG. Tobam acquired a new position in shares of IAMGOLD during the fourth quarter worth $25,000. Blue Trust Inc. boosted its stake in IAMGOLD by 157.1% during the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company's stock worth $47,000 after purchasing an additional 5,511 shares during the period. Raab & Moskowitz Asset Management LLC purchased a new stake in IAMGOLD during the 4th quarter valued at approximately $56,000. Atria Wealth Solutions Inc. purchased a new position in IAMGOLD in the 4th quarter valued at $68,000. Finally, Choreo LLC acquired a new position in IAMGOLD during the 4th quarter worth approximately $88,000. 47.08% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. CIBC lifted their price objective on IAMGOLD from $8.40 to $9.20 and gave the stock an "outperformer" rating in a report on Thursday, May 8th. BMO Capital Markets began coverage on shares of IAMGOLD in a research report on Wednesday, April 16th. They set an "outperform" rating on the stock. StockNews.com cut IAMGOLD from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. National Bank Financial upgraded IAMGOLD to a "strong-buy" rating in a research report on Friday, March 21st. Finally, Raymond James reiterated a "market perform" rating and set a $8.00 price objective on shares of IAMGOLD in a report on Friday, April 4th. Four research analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, IAMGOLD presently has a consensus rating of "Moderate Buy" and a consensus target price of $7.74.

IAMGOLD Price Performance

Shares of IAG traded down $0.19 during trading hours on Wednesday, hitting $6.14. 4,257,198 shares of the company were exchanged, compared to its average volume of 10,399,497. The firm has a fifty day simple moving average of $6.56 and a 200-day simple moving average of $5.95. The company has a market capitalization of $3.53 billion, a PE ratio of 4.23 and a beta of 1.20. IAMGOLD Co. has a one year low of $3.44 and a one year high of $8.38. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last announced its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. The firm had revenue of $457.23 million during the quarter, compared to the consensus estimate of $578.70 million. As a group, sell-side analysts predict that IAMGOLD Co. will post 0.67 earnings per share for the current year.

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.