Shell Asset Management Co. Sells 7,600 Shares of IAMGOLD Co. (NYSE:IAG)

Shell Asset Management Co. lowered its position in IAMGOLD Co. (NYSE:IAGGet Rating) (TSE:IMG) by 13.8% in the second quarter, Holdings Channel.com reports. The fund owned 47,582 shares of the mining company’s stock after selling 7,600 shares during the period. Shell Asset Management Co.’s holdings in IAMGOLD were worth $76,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. WMS Partners LLC lifted its position in shares of IAMGOLD by 36.1% during the 2nd quarter. WMS Partners LLC now owns 113,100 shares of the mining company’s stock worth $182,000 after buying an additional 30,000 shares during the period. DORCHESTER WEALTH MANAGEMENT Co lifted its position in shares of IAMGOLD by 19.1% during the 2nd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 186,800 shares of the mining company’s stock worth $300,000 after buying an additional 30,000 shares during the period. Van ECK Associates Corp lifted its position in shares of IAMGOLD by 1.4% during the 2nd quarter. Van ECK Associates Corp now owns 47,628,360 shares of the mining company’s stock worth $76,681,000 after buying an additional 642,171 shares during the period. SG Americas Securities LLC lifted its position in shares of IAMGOLD by 66.6% during the 2nd quarter. SG Americas Securities LLC now owns 242,032 shares of the mining company’s stock worth $390,000 after buying an additional 96,712 shares during the period. Finally, Russell Investments Group Ltd. lifted its position in shares of IAMGOLD by 153.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,159,076 shares of the mining company’s stock worth $11,524,000 after buying an additional 4,333,539 shares during the period. Institutional investors own 50.93% of the company’s stock.

Wall Street Analyst Weigh In

IAG has been the subject of several analyst reports. StockNews.com upgraded IAMGOLD from a “sell” rating to a “hold” rating in a research report on Friday, November 11th. Bank of America upgraded IAMGOLD from an “underperform” rating to a “buy” rating and cut their target price for the stock from $2.10 to $1.65 in a research report on Wednesday, October 19th. BMO Capital Markets cut their target price on IAMGOLD from $1.50 to $1.25 and set a “market perform” rating for the company in a research report on Wednesday, October 19th. Finally, National Bank Financial raised their price target on IAMGOLD from C$2.25 to C$2.50 in a report on Thursday, November 10th. Six equities research analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, IAMGOLD presently has an average rating of “Hold” and an average price target of $2.55.

IAMGOLD Stock Down 0.6 %

NYSE IAG opened at $1.78 on Friday. The stock has a fifty day moving average of $1.33 and a 200-day moving average of $1.58. The stock has a market capitalization of $852.62 million, a P/E ratio of -2.92 and a beta of 1.43. IAMGOLD Co. has a 52 week low of $0.92 and a 52 week high of $3.77. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.31 and a current ratio of 2.00.

IAMGOLD Company Profile

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IAMGOLD Corporation, through its subsidiaries, explores, develops, and operates gold mining properties in North America, South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine situated in Burkina Faso and Boto gold project located in Senegal, West Africa; and Westwood mine, covers an area of 1,925 hectare and located in Quebec and the Côté gold project, which covers an area of 586 square kilometer located in Ontario, Canada.

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Institutional Ownership by Quarter for IAMGOLD (NYSE:IAG)

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