Walleye Capital LLC Trims Stake in IAMGOLD Co. (NYSE:IAG)

Walleye Capital LLC reduced its position in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 93.3% in the third quarter, HoldingsChannel.com reports. The firm owned 33,479 shares of the mining company’s stock after selling 462,903 shares during the period. Walleye Capital LLC’s holdings in IAMGOLD were worth $175,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. ORG Partners LLC bought a new position in shares of IAMGOLD in the third quarter worth approximately $29,000. Eastern Bank bought a new position in shares of IAMGOLD in the third quarter worth approximately $30,000. TIAA Trust National Association bought a new position in shares of IAMGOLD during the second quarter worth $38,000. International Assets Investment Management LLC bought a new position in shares of IAMGOLD during the third quarter worth $700,000. Finally, WINTON GROUP Ltd bought a new position in shares of IAMGOLD during the second quarter worth $52,000. 47.08% of the stock is currently owned by institutional investors.

IAMGOLD Price Performance

IAG stock opened at $5.91 on Thursday. IAMGOLD Co. has a 52 week low of $2.11 and a 52 week high of $6.37. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The company has a fifty day simple moving average of $5.38 and a two-hundred day simple moving average of $4.74. The firm has a market capitalization of $3.38 billion, a P/E ratio of 4.62 and a beta of 1.56.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on IAG shares. Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. CIBC upgraded shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday, December 2nd. National Bank Financial upgraded shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Finally, StockNews.com upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.68.

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.