IAMGOLD Co. (NYSE:IAG) Shares Sold by Mudita Advisors LLP

Mudita Advisors LLP cut its holdings in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 55.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 803,200 shares of the mining company’s stock after selling 996,800 shares during the period. IAMGOLD makes up approximately 2.3% of Mudita Advisors LLP’s holdings, making the stock its 13th biggest position. Mudita Advisors LLP owned about 0.14% of IAMGOLD worth $4,210,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in IAG. BNP Paribas Financial Markets boosted its stake in shares of IAMGOLD by 368.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,521,670 shares of the mining company’s stock worth $7,772,000 after acquiring an additional 1,196,564 shares in the last quarter. FMR LLC lifted its holdings in shares of IAMGOLD by 107.9% during the third quarter. FMR LLC now owns 8,819,600 shares of the mining company’s stock valued at $46,174,000 after purchasing an additional 4,577,599 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in IAMGOLD by 3.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 471,617 shares of the mining company’s stock worth $2,474,000 after purchasing an additional 17,891 shares in the last quarter. Bank of Montreal Can increased its stake in IAMGOLD by 130.6% in the 3rd quarter. Bank of Montreal Can now owns 5,384,778 shares of the mining company’s stock worth $28,385,000 after purchasing an additional 3,049,252 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in IAMGOLD by 158.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company’s stock valued at $24,301,000 after buying an additional 2,839,556 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on IAG shares. Scotiabank lifted their target price on shares of IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. StockNews.com upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating and increased their target price for the company from $7.75 to $10.50 in a report on Tuesday, October 22nd. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Finally, National Bank Financial raised IAMGOLD from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.68.

IAMGOLD Price Performance

IAG opened at $5.38 on Wednesday. The stock has a fifty day moving average price of $5.34 and a 200 day moving average price of $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 Co. has a 1 year low of $2.11 and a 1 year high of $6.37. The stock has a market cap of $3.07 billion, a price-to-earnings ratio of 4.20 and a beta of 1.57.

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.