Hellman Jordan Management Co. Inc. MA bought a new stake in Iamgold Corp (NYSE:IAG) (TSE:IMG) in the 1st quarter, HoldingsChannel.com reports. The fund bought 13,000 shares of the mining company’s stock, valued at approximately $45,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Moors & Cabot Inc. acquired a new stake in shares of Iamgold in the 1st quarter valued at $34,000. Smithbridge Asset Management Inc. DE acquired a new stake in shares of Iamgold in the 1st quarter valued at $35,000. K.J. Harrison & Partners Inc acquired a new stake in shares of Iamgold in the 1st quarter valued at $35,000. Maven Securities LTD acquired a new stake in shares of Iamgold in the 4th quarter valued at $37,000. Finally, Stamos Capital Partners L.P. acquired a new stake in shares of Iamgold in the 4th quarter valued at $54,000. 55.97% of the stock is owned by institutional investors.
Shares of Iamgold stock traded down $0.01 during trading on Friday, reaching $2.87. 7,652,645 shares of the company were exchanged, compared to its average volume of 5,084,904. The company has a quick ratio of 3.11, a current ratio of 4.18 and a debt-to-equity ratio of 0.14. Iamgold Corp has a twelve month low of $2.28 and a twelve month high of $6.16. The stock has a market cap of $1.34 billion, a PE ratio of 47.83, a price-to-earnings-growth ratio of 22.96 and a beta of -0.16.
Several equities research analysts have recently commented on the company. Zacks Investment Research cut Iamgold from a “hold” rating to a “sell” rating in a research note on Tuesday, April 2nd. ValuEngine cut Iamgold from a “hold” rating to a “sell” rating in a research note on Wednesday, May 1st. Royal Bank of Canada decreased their price objective on Iamgold from $5.00 to $3.25 and set a “sector perform” rating for the company in a research note on Tuesday, May 21st. Canaccord Genuity cut Iamgold from a “buy” rating to a “hold” rating in a research note on Tuesday, May 7th. Finally, Raymond James reaffirmed a “market perform” rating and set a $4.00 price objective on shares of Iamgold in a research note on Wednesday, May 8th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $4.18.
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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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