IAMGOLD Co. (NYSE:IAG) Stock Position Decreased by DORCHESTER WEALTH MANAGEMENT Co

DORCHESTER WEALTH MANAGEMENT Co reduced its stake in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 18.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 86,300 shares of the mining company’s stock after selling 19,800 shares during the period. DORCHESTER WEALTH MANAGEMENT Co’s holdings in IAMGOLD were worth $452,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in IAG. Helikon Investments Ltd boosted its position in IAMGOLD by 250.5% during the 1st quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock valued at $109,429,000 after purchasing an additional 23,485,183 shares during the period. Van ECK Associates Corp grew its position in shares of IAMGOLD by 8.2% during the first quarter. Van ECK Associates Corp now owns 52,053,035 shares of the mining company’s stock worth $173,340,000 after acquiring an additional 3,935,250 shares during the last quarter. BNP Paribas Financial Markets increased its holdings in shares of IAMGOLD by 326.7% in the 1st quarter. BNP Paribas Financial Markets now owns 609,440 shares of the mining company’s stock worth $2,029,000 after acquiring an additional 466,620 shares during the period. Headlands Technologies LLC bought a new stake in IAMGOLD in the 1st quarter valued at about $389,000. Finally, Vanguard Group Inc. boosted its stake in IAMGOLD by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company’s stock valued at $58,871,000 after purchasing an additional 168,302 shares during the period. 47.08% of the stock is owned by institutional investors.

IAMGOLD Price Performance

Shares of IAMGOLD stock traded down $0.11 during trading on Thursday, hitting $5.82. The stock had a trading volume of 953,090 shares, compared to its average volume of 9,145,972. The business has a fifty day moving average of $5.17 and a two-hundred day moving average of $4.35. The firm has a market cap of $3.31 billion, a P/E ratio of 21.23 and a beta of 1.59. IAMGOLD Co. has a fifty-two week low of $2.11 and a fifty-two week high of $6.37. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.34 and a quick ratio of 0.90.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. The company had revenue of $385.30 million during the quarter. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. During the same period in the previous year, the company posted ($0.01) earnings per share. On average, sell-side analysts expect that IAMGOLD Co. will post 0.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on IAG shares. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and raised their price target for the company from $7.75 to $10.50 in a research note on Tuesday. National Bank Financial raised IAMGOLD from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday. CIBC lifted their price objective on shares of IAMGOLD from $5.40 to $6.40 and gave the company a “neutral” rating in a research note on Tuesday. Finally, Scotiabank increased their target price on shares of IAMGOLD from $4.75 to $5.50 and gave the company a “sector perform” rating in a research report on Monday, August 19th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $6.07.

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.