P Schoenfeld Asset Management LP Sells 105,000 Shares of IAMGOLD Co. (NYSE:IAG)

P Schoenfeld Asset Management LP reduced its holdings in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 1.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,641,078 shares of the mining company’s stock after selling 105,000 shares during the period. IAMGOLD accounts for approximately 5.1% of P Schoenfeld Asset Management LP’s investment portfolio, making the stock its 3rd biggest holding. P Schoenfeld Asset Management LP owned approximately 0.99% of IAMGOLD worth $21,154,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Dynamic Technology Lab Private Ltd bought a new position in IAMGOLD during the fourth quarter worth $29,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of IAMGOLD during the 4th quarter worth about $33,000. TIAA Trust National Association acquired a new stake in shares of IAMGOLD in the 2nd quarter valued at about $38,000. Cetera Advisors LLC bought a new stake in IAMGOLD in the 1st quarter valued at about $50,000. Finally, WINTON GROUP Ltd acquired a new position in IAMGOLD during the 2nd quarter worth approximately $52,000. 47.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

IAG has been the subject of several recent research reports. CIBC boosted their price objective on IAMGOLD from $4.90 to $5.40 and gave the company a “neutral” rating in a report on Monday, August 12th. Scotiabank upped their price objective on shares of IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a report on Monday, August 19th. BMO Capital Markets reiterated an “outperform” rating and set a $5.00 price objective on shares of IAMGOLD in a report on Thursday, June 6th. Finally, StockNews.com raised shares of IAMGOLD from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, IAMGOLD presently has an average rating of “Hold” and an average price target of $4.73.

IAMGOLD Stock Up 3.2 %

IAMGOLD stock opened at $5.48 on Monday. IAMGOLD Co. has a fifty-two week low of $1.99 and a fifty-two week high of $5.57. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.90 and a current ratio of 1.34. The firm’s 50-day simple moving average is $4.64 and its 200 day simple moving average is $4.03. The stock has a market cap of $3.12 billion, a PE ratio of 19.57 and a beta of 1.58.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced 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 firm had revenue of $385.30 million for the quarter. IAMGOLD had a return on equity of 6.70% and a net margin of 10.36%. During the same quarter in the previous year, the firm earned ($0.01) EPS. Research analysts predict that IAMGOLD Co. will post 0.41 EPS for the current fiscal year.

IAMGOLD Company 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.