Point72 Asset Management L.P. Sells 1,014,755 Shares of IAMGOLD Co. (NYSE:IAG)

Point72 Asset Management L.P. decreased its position in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 95.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 50,920 shares of the mining company’s stock after selling 1,014,755 shares during the quarter. Point72 Asset Management L.P.’s holdings in IAMGOLD were worth $191,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the company. TIAA Trust National Association bought a new stake in IAMGOLD in the 2nd quarter valued at about $38,000. Cetera Advisors LLC acquired a new stake in IAMGOLD during the first quarter worth approximately $50,000. WINTON GROUP Ltd acquired a new stake in IAMGOLD during the second quarter worth approximately $52,000. Banque Cantonale Vaudoise bought a new position in IAMGOLD during the 2nd quarter worth $56,000. Finally, Linscomb Wealth Inc. acquired a new position in IAMGOLD in the 1st quarter valued at $67,000. Institutional investors own 47.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. StockNews.com upgraded IAMGOLD from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. CIBC raised their target price on shares of IAMGOLD from $4.90 to $5.40 and gave the company a “neutral” rating in a report on Monday, August 12th. Finally, Scotiabank upped their price target on shares of IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, IAMGOLD presently has an average rating of “Hold” and an average price target of $4.73.

IAMGOLD Stock Performance

NYSE:IAG opened at $5.04 on Friday. The company has a quick ratio of 0.90, a current ratio of 1.34 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $2.87 billion, a PE ratio of 18.00 and a beta of 1.59. IAMGOLD Co. has a twelve month low of $2.01 and a twelve month high of $5.60. The stock’s 50-day simple moving average is $4.89 and its 200 day simple moving average is $4.18.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.08. The business 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 quarter in the prior year, the company earned ($0.01) earnings per share. On average, analysts anticipate that IAMGOLD Co. will post 0.45 EPS for the current fiscal year.

IAMGOLD 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.