Barclays PLC Trims Stake in IAMGOLD Co. (NYSE:IAG)

Barclays PLC lessened its holdings in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 23.5% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 497,377 shares of the mining company’s stock after selling 152,605 shares during the period. Barclays PLC owned 0.09% of IAMGOLD worth $2,601,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Public Employees Retirement System of Ohio bought a new position in IAMGOLD in the 3rd quarter worth about $1,083,000. XTX Topco Ltd grew its holdings in shares of IAMGOLD by 84.5% during the third quarter. XTX Topco Ltd now owns 118,740 shares of the mining company’s stock worth $621,000 after purchasing an additional 54,392 shares in the last quarter. National Bank of Canada FI increased its position in shares of IAMGOLD by 48.8% in the third quarter. National Bank of Canada FI now owns 1,914,730 shares of the mining company’s stock worth $10,018,000 after purchasing an additional 628,253 shares during the last quarter. Two Sigma Advisers LP raised its stake in IAMGOLD by 58.8% in the third quarter. Two Sigma Advisers LP now owns 10,083,115 shares of the mining company’s stock valued at $52,735,000 after purchasing an additional 3,732,315 shares in the last quarter. Finally, Flow Traders U.S. LLC bought a new stake in IAMGOLD during the third quarter valued at approximately $93,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $6.00 price objective on shares of IAMGOLD in a research report on Tuesday, October 22nd. StockNews.com upgraded IAMGOLD from a “hold” rating to a “buy” rating in a report on Monday, November 11th. National Bank Financial upgraded IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. CIBC upgraded IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday, December 2nd. Finally, Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $6.68.

IAMGOLD Stock Performance

Shares of IAG stock opened at $5.15 on Wednesday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. IAMGOLD Co. has a fifty-two week low of $2.23 and a fifty-two week high of $6.37. The company has a market capitalization of $2.94 billion, a P/E ratio of 4.02 and a beta of 1.56. The stock has a 50 day moving average price of $5.46 and a two-hundred day moving average price of $4.82.

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.