Iamgold Corporation (NYSE:IAG) Shares Sold by Intact Investment Management Inc.

Intact Investment Management Inc. decreased its position in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 29.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,922,153 shares of the mining company's stock after selling 811,297 shares during the period. Intact Investment Management Inc. owned about 0.33% of Iamgold worth $11,996,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IAG. Franklin Resources Inc. increased its stake in Iamgold by 5.3% during the fourth quarter. Franklin Resources Inc. now owns 36,156 shares of the mining company's stock worth $187,000 after purchasing an additional 1,836 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Iamgold by 12.7% in the fourth quarter. Bank of New York Mellon Corp now owns 35,046 shares of the mining company's stock valued at $181,000 after purchasing an additional 3,961 shares in the last quarter. Northwest & Ethical Investments L.P. increased its stake in Iamgold by 4.6% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 91,623 shares of the mining company's stock worth $473,000 after buying an additional 4,013 shares during the period. Freedom Investment Management Inc. lifted its holdings in Iamgold by 4.2% during the 4th quarter. Freedom Investment Management Inc. now owns 108,747 shares of the mining company's stock worth $561,000 after buying an additional 4,399 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Iamgold by 0.8% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 600,647 shares of the mining company's stock worth $3,099,000 after buying an additional 5,053 shares in the last quarter. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. CIBC upped their price objective on Iamgold from $8.40 to $9.20 and gave the stock an "outperformer" rating in a research report on Thursday, May 8th. BMO Capital Markets began coverage on Iamgold in a research note on Wednesday, April 16th. They set an "outperform" rating for the company. Scotiabank increased their price target on Iamgold from $7.50 to $7.75 and gave the company a "sector perform" rating in a research report on Monday, May 12th. Wall Street Zen cut Iamgold from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Finally, National Bank Financial upgraded shares of Iamgold to a "strong-buy" rating in a research note on Friday, March 21st. Four equities 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, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $8.29.

Iamgold Stock Up 5.1%

Shares of NYSE IAG traded up $0.37 during midday trading on Monday, hitting $7.62. 18,417,345 shares of the company's stock were exchanged, compared to its average volume of 11,258,639. The firm's fifty day simple moving average is $7.11 and its 200-day simple moving average is $6.28. The company has a market cap of $4.38 billion, a PE ratio of 5.40 and a beta of 1.15. Iamgold Corporation has a twelve month low of $3.44 and a twelve month high of $8.38. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.41 and a quick ratio of 0.83.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last announced its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. The company had revenue of $457.23 million for the quarter, compared to analyst estimates of $578.70 million. Iamgold had a net margin of 45.42% and a return on equity of 9.26%. Research analysts predict that Iamgold Corporation will post 0.67 EPS for the current fiscal year.

Iamgold 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.