Creative Planning Cuts Holdings in Iamgold Corp (IAG)

Creative Planning lessened its holdings in Iamgold Corp (NYSE:IAG) (TSE:IMG) by 78.6% during the first quarter, HoldingsChannel reports. The firm owned 15,490 shares of the mining company’s stock after selling 56,900 shares during the period. Creative Planning’s holdings in Iamgold were worth $54,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Smithbridge Asset Management Inc. DE bought a new stake in shares of Iamgold in the first quarter worth $35,000. Maven Securities LTD bought a new stake in shares of Iamgold in the fourth quarter worth $37,000. Sigma Planning Corp bought a new stake in shares of Iamgold in the fourth quarter worth $47,000. Stamos Capital Partners L.P. bought a new stake in shares of Iamgold in the fourth quarter worth $54,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Iamgold in the fourth quarter worth $56,000. 59.04% of the stock is currently owned by institutional investors and hedge funds.

NYSE IAG opened at $2.60 on Friday. The company has a debt-to-equity ratio of 0.14, a quick ratio of 3.11 and a current ratio of 4.18. Iamgold Corp has a 1 year low of $2.33 and a 1 year high of $6.33. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 43.33, a PEG ratio of 19.68 and a beta of -0.41.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Wednesday, February 20th. The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by ($0.02). Iamgold had a negative return on equity of 0.43% and a negative net margin of 10.67%. The firm had revenue of $274.30 million for the quarter, compared to the consensus estimate of $273.84 million. During the same period last year, the company posted ($0.03) earnings per share. The business’s revenue was down 5.8% compared to the same quarter last year. Equities research analysts anticipate that Iamgold Corp will post 0.04 EPS for the current year.

A number of analysts have recently commented on the stock. BMO Capital Markets set a $5.00 price objective on shares of Iamgold and gave the stock a “buy” rating in a research report on Saturday, February 2nd. Canaccord Genuity reissued a “buy” rating on shares of Iamgold in a research report on Friday, February 15th. Zacks Investment Research lowered shares of Iamgold from a “hold” rating to a “sell” rating in a research report on Tuesday, April 2nd. ValuEngine raised shares of Iamgold from a “sell” rating to a “hold” rating in a research report on Tuesday, January 29th. Finally, Desjardins raised shares of Iamgold from a “hold” rating to a “buy” rating in a research report on Monday, January 28th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. Iamgold currently has a consensus rating of “Hold” and an average target price of $4.47.

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Iamgold Profile

IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine in Burkina Faso, West Africa; the Westwood mine in Quebec, Canada; and the Sadiola mine located in Mali, West Africa.

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Want to see what other hedge funds are holding IAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Iamgold Corp (NYSE:IAG) (TSE:IMG).

Institutional Ownership by Quarter for Iamgold (NYSE:IAG)

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