Two Sigma Investments LP Sells 1,767,735 Shares of IAMGOLD Co. (NYSE:IAG)

Two Sigma Investments LP trimmed its position in IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 13.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,930,214 shares of the mining company's stock after selling 1,767,735 shares during the quarter. Two Sigma Investments LP owned 1.91% of IAMGOLD worth $56,400,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tobam purchased a new position in shares of IAMGOLD in the fourth quarter valued at about $25,000. Blue Trust Inc. grew its stake in shares of IAMGOLD by 157.1% in the fourth 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 last quarter. Raab & Moskowitz Asset Management LLC purchased a new position in IAMGOLD during the 4th quarter valued at about $56,000. Atria Wealth Solutions Inc. bought a new position in IAMGOLD during the 4th quarter valued at approximately $68,000. Finally, Choreo LLC bought a new position in IAMGOLD during the 4th quarter valued at approximately $88,000. 47.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on IAG shares. National Bank Financial raised IAMGOLD to a "strong-buy" rating in a research note on Friday, March 21st. StockNews.com cut shares of IAMGOLD from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Raymond James restated a "market perform" rating and issued a $8.00 price objective on shares of IAMGOLD in a report on Friday, April 4th. CIBC raised their target price on shares of IAMGOLD from $8.40 to $9.20 and gave the stock an "outperformer" rating in a research report on Thursday, May 8th. Finally, Scotiabank boosted their price target on shares of IAMGOLD from $7.50 to $7.75 and gave the company a "sector perform" rating in a research report on Monday, May 12th. Four investment 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. According to MarketBeat.com, IAMGOLD has an average rating of "Moderate Buy" and an average price target of $7.74.

IAMGOLD Trading Up 1.6%

Shares of NYSE IAG opened at $6.40 on Tuesday. IAMGOLD Co. has a 1 year low of $3.44 and a 1 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. The firm has a 50-day moving average of $6.63 and a 200 day moving average of $5.97. The stock has a market cap of $3.68 billion, a P/E ratio of 4.41 and a beta of 1.20.

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

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