IAMGOLD Co. (NYSE:IAG) Shares Sold by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,540,087 shares of the mining company’s stock after selling 96,000 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in IAMGOLD were worth $23,437,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Tobam acquired a new stake in IAMGOLD during the 4th quarter worth approximately $25,000. Blue Trust Inc. lifted its position in IAMGOLD by 157.1% during the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock worth $47,000 after acquiring an additional 5,511 shares during the period. Raab & Moskowitz Asset Management LLC acquired a new stake in IAMGOLD during the 4th quarter worth approximately $56,000. Atria Wealth Solutions Inc. acquired a new stake in shares of IAMGOLD in the 4th quarter valued at approximately $68,000. Finally, Choreo LLC acquired a new stake in shares of IAMGOLD in the 4th quarter valued at approximately $88,000. 47.08% of the stock is owned by institutional investors and hedge funds.

IAMGOLD Stock Performance

Shares of IAG stock opened at $5.78 on Friday. The stock has a fifty day moving average price of $5.87 and a 200 day moving average price of $5.49. The stock has a market cap of $3.30 billion, a PE ratio of 3.98 and a beta of 1.63. IAMGOLD Co. has a 1 year low of $2.90 and a 1 year high of $6.69. 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 (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Thursday, February 20th. The mining company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.05). The firm had revenue of $469.90 million for the quarter, compared to analyst estimates of $498.68 million. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. Sell-side analysts forecast that IAMGOLD Co. will post 0.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IAG has been the subject of several recent analyst reports. Raymond James raised IAMGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, February 3rd. CIBC raised IAMGOLD from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 2nd. StockNews.com cut IAMGOLD from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Finally, Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $6.57.

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.