UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 56,233 Shares of IAMGOLD Co. (NYSE:IAG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its position in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 8.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 595,594 shares of the mining company’s stock after selling 56,233 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.10% of IAMGOLD worth $3,115,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IAG. Cetera Advisors LLC purchased a new stake in IAMGOLD in the 1st quarter valued at about $50,000. Continuum Advisory LLC increased its holdings in IAMGOLD by 92.9% during the 2nd quarter. Continuum Advisory LLC now owns 20,450 shares of the mining company’s stock worth $77,000 after purchasing an additional 9,850 shares during the period. Allspring Global Investments Holdings LLC bought a new stake in IAMGOLD during the 2nd quarter valued at $183,000. Intact Investment Management Inc. lifted its holdings in shares of IAMGOLD by 99.2% in the 2nd quarter. Intact Investment Management Inc. now owns 1,313,100 shares of the mining company’s stock worth $4,933,000 after buying an additional 654,000 shares during the period. Finally, Banque Cantonale Vaudoise bought a new position in shares of IAMGOLD during the 2nd quarter worth $56,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IAG. CIBC raised shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 2nd. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating and boosted their price target for the stock from $7.75 to $10.50 in a research report on Tuesday, October 22nd. Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. StockNews.com upgraded IAMGOLD from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Finally, Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, IAMGOLD currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.68.

IAMGOLD Trading Down 4.0 %

Shares of IAMGOLD stock opened at $5.34 on Friday. IAMGOLD Co. has a 1 year low of $2.23 and a 1 year high of $6.37. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. The stock has a market cap of $3.05 billion, a PE ratio of 4.17 and a beta of 1.56. The firm has a fifty day moving average price of $5.39 and a 200 day moving average price of $4.75.

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.