P Schoenfeld Asset Management LP Has $21.15 Million Position in IAMGOLD Co. (NYSE:IAG)

P Schoenfeld Asset Management LP cut its holdings in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,641,078 shares of the mining company’s stock after selling 105,000 shares during the quarter. IAMGOLD makes up approximately 5.1% of P Schoenfeld Asset Management LP’s portfolio, making the stock its 3rd largest holding. P Schoenfeld Asset Management LP’s holdings in IAMGOLD were worth $21,154,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Dynamic Technology Lab Private Ltd bought a new stake in shares of IAMGOLD during the 4th quarter valued at $29,000. Vanguard Personalized Indexing Management LLC purchased a new position in IAMGOLD during the 4th quarter valued at about $33,000. TIAA Trust National Association purchased a new position in IAMGOLD during the 2nd quarter valued at about $38,000. Cetera Advisors LLC bought a new stake in shares of IAMGOLD during the first quarter valued at about $50,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of IAMGOLD in the second quarter worth about $52,000. Institutional investors own 47.08% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on IAG shares. StockNews.com raised shares of IAMGOLD from a “sell” rating to a “hold” rating in a research note on Saturday, August 17th. Scotiabank boosted their price target on shares of IAMGOLD from $4.75 to $5.50 and gave the company a “sector perform” rating in a research report on Monday, August 19th. BMO Capital Markets reiterated an “outperform” rating and issued a $5.00 price objective on shares of IAMGOLD in a research report on Thursday, June 6th. Finally, CIBC boosted their target price on IAMGOLD from $4.90 to $5.40 and gave the stock a “neutral” rating in a research report on Monday, August 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. According to MarketBeat, IAMGOLD currently has a consensus rating of “Hold” and a consensus price target of $4.73.

IAMGOLD Stock Performance

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 stock has a market cap of $3.12 billion, a P/E ratio of 19.57 and a beta of 1.58. The firm’s fifty day moving average price is $4.64 and its 200-day moving average price is $4.03.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. The business 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 business earned ($0.01) EPS. On average, equities research analysts expect that IAMGOLD Co. will post 0.41 earnings per share for the current fiscal 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.