Mudita Advisors LLP Sells 996,800 Shares of IAMGOLD Co. (NYSE:IAG)

Mudita Advisors LLP lowered its holdings in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 55.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 803,200 shares of the mining company’s stock after selling 996,800 shares during the quarter. IAMGOLD comprises about 2.3% of Mudita Advisors LLP’s investment portfolio, making the stock its 13th biggest position. Mudita Advisors LLP’s holdings in IAMGOLD were worth $4,210,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Virtu Financial LLC raised its holdings in IAMGOLD by 1,034.3% during the first quarter. Virtu Financial LLC now owns 339,792 shares of the mining company’s stock valued at $1,132,000 after buying an additional 309,836 shares in the last quarter. Semanteon Capital Management LP acquired a new position in shares of IAMGOLD during the 3rd quarter valued at about $503,000. Van ECK Associates Corp raised its stake 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 valued at $276,639,000 after acquiring an additional 4,267,084 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in IAMGOLD by 158.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company’s stock worth $24,301,000 after purchasing an additional 2,839,556 shares during the last quarter. Finally, U S Global Investors Inc. lifted its holdings in IAMGOLD by 241.6% in the 3rd quarter. U S Global Investors Inc. now owns 854,114 shares of the mining company’s stock worth $4,467,000 after purchasing an additional 604,114 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on IAG shares. CIBC lifted their price target on shares of IAMGOLD from $5.40 to $6.40 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $6.00 target price on shares of IAMGOLD in a research note 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. StockNews.com raised IAMGOLD from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Finally, Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $7.75 to $10.50 in a research report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.68.

IAMGOLD Stock Performance

IAG opened at $5.38 on Wednesday. The stock has a market cap of $3.07 billion, a PE ratio of 4.20 and a beta of 1.57. IAMGOLD Co. has a 1 year low of $2.11 and a 1 year high of $6.37. The stock’s 50 day simple moving average is $5.34 and its 200-day simple moving average is $4.65. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24.

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.