IAMGOLD Co. (NYSE:IAG) Stake Cut by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC reduced its position in IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 57.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,025 shares of the mining company's stock after selling 43,741 shares during the period. Tower Research Capital LLC TRC's holdings in IAMGOLD were worth $165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in IAG. Tobam purchased a new position in shares of IAMGOLD in the 4th quarter worth approximately $25,000. Blue Trust Inc. lifted its position in shares of IAMGOLD by 157.1% during 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 stake in IAMGOLD in the 4th quarter valued at about $56,000. Atria Wealth Solutions Inc. bought a new position in IAMGOLD in the fourth quarter worth approximately $68,000. Finally, Choreo LLC bought a new position in shares of IAMGOLD during the 4th quarter worth $88,000. 47.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on IAG. BMO Capital Markets began coverage on IAMGOLD in a research note on Wednesday, April 16th. They set an "outperform" rating for the company. CIBC boosted their price target on IAMGOLD from $8.40 to $9.20 and gave the company an "outperformer" rating in a research note on Thursday. Scotiabank boosted their target price on shares of IAMGOLD from $6.75 to $7.50 and gave the company a "sector perform" rating in a research report on Monday, April 14th. Raymond James restated a "market perform" rating and issued a $8.00 price objective on shares of IAMGOLD in a research report on Friday, April 4th. Finally, StockNews.com cut IAMGOLD from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, IAMGOLD has an average rating of "Moderate Buy" and an average target price of $7.70.

IAMGOLD Stock Performance

NYSE IAG traded down $0.59 during trading hours on Monday, hitting $6.43. 4,565,182 shares of the stock were exchanged, compared to its average volume of 10,387,231. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 4.41 and a beta of 1.20. IAMGOLD Co. has a 12-month low of $3.44 and a 12-month high of $8.38. The stock has a 50-day moving average of $6.53 and a 200 day moving average of $5.95. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last issued 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, equities research analysts forecast 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.