DORCHESTER WEALTH MANAGEMENT Co Cuts Stock Holdings in IAMGOLD Co. (NYSE:IAG)

DORCHESTER WEALTH MANAGEMENT Co lessened its stake in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 18.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 86,300 shares of the mining company’s stock after selling 19,800 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in IAMGOLD were worth $452,000 at the end of the most recent quarter.

Several other institutional investors also recently made changes to their positions in IAG. ORG Partners LLC acquired a new position in IAMGOLD in the third quarter valued at $29,000. Eastern Bank acquired a new position in shares of IAMGOLD in the 3rd quarter valued at about $30,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of IAMGOLD by 3.0% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 306,980 shares of the mining company’s stock worth $1,154,000 after purchasing an additional 8,972 shares during the period. Continuum Advisory LLC grew its holdings in shares of IAMGOLD by 92.9% during the 2nd quarter. Continuum Advisory LLC now owns 20,450 shares of the mining company’s stock worth $77,000 after purchasing an additional 9,850 shares during the period. Finally, TIAA Trust National Association purchased a new position in IAMGOLD in the second quarter valued at approximately $38,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. StockNews.com raised shares of IAMGOLD from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th. National Bank Financial raised IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating and upped their target price for the stock from $7.75 to $10.50 in a research report on Tuesday. Royal Bank of Canada reiterated a “sector perform” rating and set a $6.00 target price on shares of IAMGOLD in a report on Tuesday. Finally, Scotiabank upped their price target on IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a report on Monday, August 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $6.07.

IAMGOLD Stock Down 1.9 %

IAG stock traded down $0.11 during midday trading on Thursday, hitting $5.82. 953,090 shares of the company’s stock were exchanged, compared to its average volume of 9,145,972. The firm has a 50 day moving average price of $5.17 and a 200-day moving average price of $4.35. IAMGOLD Co. has a 12-month low of $2.11 and a 12-month high of $6.37. The stock has a market capitalization of $3.31 billion, a price-to-earnings ratio of 21.23 and a beta of 1.59. The company has a current ratio of 1.34, a quick ratio of 0.90 and a debt-to-equity ratio of 0.30.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.08. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. The business had revenue of $385.30 million during the quarter. During the same quarter last year, the firm posted ($0.01) EPS. On average, analysts anticipate that IAMGOLD Co. will post 0.49 EPS for the current year.

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.