Iamgold Corporation $IAG Shares Sold by Scotia Capital Inc.

Scotia Capital Inc. decreased its position in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 67.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,151 shares of the mining company's stock after selling 70,443 shares during the quarter. Scotia Capital Inc.'s holdings in Iamgold were worth $251,000 as of its most recent SEC filing.

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Other institutional investors and hedge funds have also made changes to their positions in the company. Parallel Advisors LLC grew its holdings in shares of Iamgold by 272.9% during the second quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company's stock valued at $26,000 after purchasing an additional 2,623 shares during the last quarter. Hsbc Holdings PLC boosted its position in Iamgold by 17.8% during the 1st quarter. Hsbc Holdings PLC now owns 19,973 shares of the mining company's stock valued at $125,000 after purchasing an additional 3,020 shares during the period. Vanguard Personalized Indexing Management LLC boosted its position in Iamgold by 10.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 36,901 shares of the mining company's stock valued at $271,000 after purchasing an additional 3,562 shares during the period. Edmond DE Rothschild Holding S.A. grew its stake in Iamgold by 2.9% during the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 184,612 shares of the mining company's stock worth $1,357,000 after buying an additional 5,209 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new stake in Iamgold in the first quarter worth $35,000. 47.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on IAG. Wall Street Zen upgraded shares of Iamgold from a "hold" rating to a "buy" rating in a research report on Saturday, November 8th. Royal Bank Of Canada upgraded Iamgold from a "sector perform" rating to an "outperform" rating and boosted their price objective for the stock from $9.00 to $14.00 in a research report on Wednesday, September 10th. Scotiabank raised their target price on Iamgold from $8.50 to $15.00 and gave the company a "sector perform" rating in a research report on Thursday, October 23rd. Zacks Research lowered Iamgold from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. Finally, Raymond James Financial increased their price target on Iamgold from $9.00 to $13.00 and gave the stock a "market perform" rating in a research note on Friday, October 10th. 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 company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $15.25.

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Check Out Our Latest Stock Analysis on IAG

Iamgold Stock Up 0.4%

Shares of IAG stock opened at $15.05 on Thursday. Iamgold Corporation has a 1 year low of $4.98 and a 1 year high of $15.80. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.95 and a current ratio of 1.68. The business's fifty day moving average is $13.18 and its 200-day moving average is $9.85. The stock has a market cap of $8.66 billion, a PE ratio of 25.08, a price-to-earnings-growth ratio of 0.44 and a beta of 1.39.

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Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last announced its earnings results on Tuesday, November 4th. The mining company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.09. The business had revenue of $714.61 million during the quarter, compared to analysts' expectations of $759.45 million. Iamgold had a return on equity of 10.39% and a net margin of 15.39%. Equities analysts expect that Iamgold Corporation will post 0.67 earnings per share 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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