Walleye Capital LLC Sells 105,102 Shares of Iamgold Corporation $IAG

Walleye Capital LLC reduced its stake in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 23.1% during the first quarter, Holdings Channel reports. The institutional investor owned 350,271 shares of the mining company’s stock after selling 105,102 shares during the period. Walleye Capital LLC’s holdings in Iamgold were worth $6,592,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Pin Oak Investment Advisors Inc. bought a new position in shares of Iamgold during the 4th quarter valued at approximately $30,000. Global Retirement Partners LLC bought a new stake in Iamgold during the 4th quarter worth approximately $33,000. FNY Investment Advisers LLC bought a new stake in Iamgold during the 4th quarter worth approximately $38,000. LOM Asset Management Ltd purchased a new position in Iamgold during the fourth quarter valued at approximately $49,000. Finally, Banque Cantonale Vaudoise lifted its holdings in Iamgold by 617.8% during the fourth quarter. Banque Cantonale Vaudoise now owns 2,986 shares of the mining company’s stock valued at $49,000 after purchasing an additional 2,570 shares in the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

Iamgold Price Performance

Shares of NYSE:IAG opened at $15.14 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.89. The firm has a fifty day moving average price of $16.20 and a 200 day moving average price of $18.27. Iamgold Corporation has a fifty-two week low of $6.69 and a fifty-two week high of $24.87. The firm has a market cap of $8.69 billion, a price-to-earnings ratio of 8.80, a P/E/G ratio of 0.66 and a beta of 1.30.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.14. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $955.17 million. Iamgold had a net margin of 29.49% and a return on equity of 26.65%. As a group, sell-side analysts expect that Iamgold Corporation will post 1.98 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IAG. Weiss Ratings cut shares of Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th. Scotiabank lowered their target price on shares of Iamgold from $25.00 to $22.00 and set a “sector perform” rating on the stock in a research note on Tuesday, July 14th. Bank of America dropped their target price on shares of Iamgold from $22.50 to $21.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Royal Bank Of Canada cut their price target on Iamgold from $22.00 to $20.00 and set an “outperform” rating for the company in a research note on Thursday, July 9th. Finally, Zacks Research cut Iamgold from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $19.00.

Iamgold Profile

IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.

The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.