Harvest Portfolios Group Inc. Sells 22,327 Shares of IAMGOLD Co. (NYSE:IAG)

Harvest Portfolios Group Inc. reduced its position in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 15.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 119,573 shares of the mining company’s stock after selling 22,327 shares during the quarter. Harvest Portfolios Group Inc.’s holdings in IAMGOLD were worth $627,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in IAG. Van ECK Associates Corp grew its position in shares of IAMGOLD by 8.8% in the 3rd quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock worth $276,639,000 after buying an additional 4,267,084 shares during the last quarter. Donald Smith & CO. Inc. boosted its holdings in IAMGOLD by 0.8% in the first quarter. Donald Smith & CO. Inc. now owns 36,077,268 shares of the mining company’s stock valued at $120,137,000 after acquiring an additional 298,959 shares in the last quarter. Vanguard Group Inc. increased its position 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. Millennium Management LLC raised its holdings in IAMGOLD by 194.2% in the 2nd quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company’s stock worth $29,573,000 after purchasing an additional 5,204,715 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of IAMGOLD by 28.6% in the 2nd quarter. American Century Companies Inc. now owns 5,708,298 shares of the mining company’s stock worth $21,423,000 after purchasing an additional 1,270,608 shares during the period. Hedge funds and other institutional investors own 47.08% of the company’s stock.

IAMGOLD Stock Down 2.9 %

IAMGOLD stock opened at $5.18 on Thursday. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 20.70 and a beta of 1.57. The company has a current ratio of 1.34, a quick ratio of 0.90 and a debt-to-equity ratio of 0.30. IAMGOLD Co. has a 12 month low of $2.11 and a 12 month high of $6.37. The stock has a fifty day simple moving average of $5.26 and a two-hundred day simple moving average of $4.48.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share 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 return on equity of 6.70% and a net margin of 10.36%. During the same period last year, the firm posted ($0.01) EPS. Equities analysts predict that IAMGOLD Co. will post 0.53 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on IAG shares. Scotiabank upped their target price on IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a report on Monday, August 19th. CIBC upped their price target on IAMGOLD from $5.40 to $6.40 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. National Bank Financial raised shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Finally, Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and increased their price target for the stock from $7.75 to $10.50 in a research note on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $6.68.

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.