Iamgold Corporation $IAG Shares Sold by Millennium Management LLC

Millennium Management LLC lessened its holdings in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 1.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,154,546 shares of the mining company's stock after selling 175,648 shares during the quarter. Millennium Management LLC owned approximately 1.77% of Iamgold worth $63,466,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IAG. Raymond James Financial Inc. acquired a new stake in Iamgold during the 4th quarter worth $107,000. Tudor Investment Corp ET AL raised its holdings in shares of Iamgold by 63.3% during the 4th quarter. Tudor Investment Corp ET AL now owns 18,986 shares of the mining company's stock worth $98,000 after acquiring an additional 7,359 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Iamgold by 4.0% during the 4th quarter. The Manufacturers Life Insurance Company now owns 490,296 shares of the mining company's stock worth $2,538,000 after acquiring an additional 18,679 shares during the period. Bank of America Corp DE raised its holdings in shares of Iamgold by 13.2% during the 4th quarter. Bank of America Corp DE now owns 5,817,490 shares of the mining company's stock worth $30,018,000 after acquiring an additional 680,192 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new position in shares of Iamgold during the 4th quarter worth $365,000. Institutional investors and hedge funds own 47.08% of the company's stock.

Wall Street Analysts Forecast Growth

IAG has been the topic of several analyst reports. Royal Bank Of Canada upgraded Iamgold from a "sector perform" rating to an "outperform" rating and lifted their price target for the stock from $9.00 to $14.00 in a report on Wednesday. National Bankshares reiterated an "outperform" rating on shares of Iamgold in a report on Tuesday, June 24th. CIBC reiterated an "outperform" rating on shares of Iamgold in a report on Tuesday, July 15th. Zacks Research lowered shares of Iamgold from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Finally, Raymond James Financial upgraded shares of Iamgold to a "hold" rating and set a $8.00 price objective on the stock in a report on Monday, June 30th. Two investment 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 stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $10.13.

Iamgold Trading Up 1.2%

NYSE:IAG traded up $0.13 on Friday, reaching $11.18. 12,630,059 shares of the company's stock were exchanged, compared to its average volume of 10,862,949. The company has a quick ratio of 0.76, a current ratio of 1.47 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $6.43 billion, a price-to-earnings ratio of 8.04, a price-to-earnings-growth ratio of 0.36 and a beta of 1.21. The business has a fifty day moving average of $8.13 and a 200-day moving average of $7.21. Iamgold Corporation has a 52-week low of $4.44 and a 52-week high of $11.36.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last issued its quarterly earnings results on Thursday, August 7th. The mining company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.14 by ($0.01). The business had revenue of $587.21 million for the quarter, compared to analysts' expectations of $663.21 million. Iamgold had a return on equity of 8.54% and a net margin of 40.61%. As a group, analysts expect that Iamgold Corporation will post 0.67 earnings per share for the current year.

About Iamgold

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.