IAMGOLD Co. (NYSE:IAG) Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. lowered its stake in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 30.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 104,348 shares of the mining company’s stock after selling 46,076 shares during the quarter. Freedom Investment Management Inc.’s holdings in IAMGOLD were worth $546,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Semanteon Capital Management LP acquired a new stake in shares of IAMGOLD during the third quarter valued at $503,000. Van ECK Associates Corp boosted its stake in shares of IAMGOLD by 8.8% during the 3rd quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock worth $276,639,000 after purchasing an additional 4,267,084 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in shares of 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 worth $24,301,000 after buying an additional 2,839,556 shares in the last quarter. U S Global Investors Inc. raised its position in shares of IAMGOLD by 241.6% in the third quarter. U S Global Investors Inc. now owns 854,114 shares of the mining company’s stock valued at $4,467,000 after buying an additional 604,114 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its stake in shares of IAMGOLD by 1,973.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,012,000 shares of the mining company’s stock valued at $5,311,000 after buying an additional 963,200 shares during the period. Institutional investors and hedge funds own 47.08% of the company’s stock.

Analyst Ratings Changes

IAG has been the subject of several analyst reports. National Bank Financial upgraded IAMGOLD from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating and increased their target price for the stock from $7.75 to $10.50 in a research 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. StockNews.com upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Finally, CIBC boosted their target price on shares of IAMGOLD from $5.40 to $6.40 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, IAMGOLD presently has an average rating of “Moderate Buy” and an average target price of $6.68.

IAMGOLD Price Performance

IAG opened at $5.50 on Friday. IAMGOLD Co. has a 52-week low of $2.11 and a 52-week high of $6.37. The company has a 50 day moving average of $5.34 and a two-hundred day moving average of $4.67. The company has a market cap of $3.14 billion, a P/E ratio of 4.30 and a beta of 1.57. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24.

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.