First Trust Advisors LP Has $70,000 Stake in IAMGOLD Co. (NYSE:IAG)

First Trust Advisors LP lowered its stake in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 27.1% in the fourth quarter, Holdings Channel reports. The fund owned 13,615 shares of the mining company’s stock after selling 5,051 shares during the quarter. First Trust Advisors LP’s holdings in IAMGOLD were worth $70,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its stake in IAMGOLD by 27.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,289,000 shares of the mining company’s stock valued at $6,654,000 after purchasing an additional 277,000 shares during the last quarter. Cibc World Market Inc. boosted its holdings in shares of IAMGOLD by 54.0% during the 4th quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company’s stock valued at $26,452,000 after acquiring an additional 1,795,869 shares in the last quarter. Triasima Portfolio Management inc. grew its position in IAMGOLD by 44.5% during the 4th quarter. Triasima Portfolio Management inc. now owns 352,315 shares of the mining company’s stock worth $1,820,000 after acquiring an additional 108,524 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in IAMGOLD by 66.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,511,328 shares of the mining company’s stock worth $7,904,000 after purchasing an additional 604,259 shares in the last quarter. Finally, Atria Wealth Solutions Inc. bought a new position in IAMGOLD in the fourth quarter valued at about $68,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

IAMGOLD Stock Up 2.5%

IAMGOLD stock opened at $7.02 on Monday. The firm has a market cap of $4.04 billion, a price-to-earnings ratio of 4.84 and a beta of 1.20. IAMGOLD Co. has a 52-week low of $3.44 and a 52-week high of $8.38. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. The firm has a 50 day moving average price of $6.53 and a two-hundred day moving average price of $5.95.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its earnings results on Tuesday, May 6th. The mining company reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. The business had revenue of $457.23 million during the quarter, compared to the consensus estimate of $578.70 million. IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. Equities analysts predict that IAMGOLD Co. will post 0.67 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Raymond James restated a “market perform” rating and set a $8.00 price target on shares of IAMGOLD in a report on Friday, April 4th. Scotiabank upped their price target 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. StockNews.com lowered shares of IAMGOLD from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. National Bank Financial raised shares of IAMGOLD to a “strong-buy” rating in a research note on Friday, March 21st. Finally, BMO Capital Markets assumed coverage on IAMGOLD in a report on Wednesday, April 16th. They issued an “outperform” rating for the company. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $7.70.

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.