DORCHESTER WEALTH MANAGEMENT Co Sells 5,750 Shares of IAMGOLD Co. (NYSE:IAG)

DORCHESTER WEALTH MANAGEMENT Co reduced its holdings in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 6.7% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 80,550 shares of the mining company’s stock after selling 5,750 shares during the quarter. DORCHESTER WEALTH MANAGEMENT Co’s holdings in IAMGOLD were worth $416,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in IAG. Allspring Global Investments Holdings LLC increased its stake in IAMGOLD by 1,973.8% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,012,000 shares of the mining company’s stock worth $5,311,000 after acquiring an additional 963,200 shares during the last quarter. Eastern Bank bought a new position in IAMGOLD in the 3rd quarter worth about $30,000. International Assets Investment Management LLC purchased a new position in shares of IAMGOLD in the 3rd quarter worth about $700,000. Leuthold Group LLC purchased a new position in shares of IAMGOLD in the 3rd quarter worth about $2,951,000. Finally, Semanteon Capital Management LP purchased a new position in shares of IAMGOLD in the 3rd quarter worth about $503,000. 47.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on IAG. Cibc World Mkts upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. CIBC upgraded IAMGOLD from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 2nd. Raymond James upgraded IAMGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, February 3rd. Finally, StockNews.com upgraded IAMGOLD from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $6.57.

IAMGOLD Trading Down 9.0 %

Shares of IAG stock opened at $5.75 on Friday. The stock has a market capitalization of $3.28 billion, a PE ratio of 3.96 and a beta of 1.56. IAMGOLD Co. has a 1-year low of $2.51 and a 1-year high of $6.69. The business has a 50-day moving average of $5.76 and a 200 day moving average of $5.42. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Thursday, February 20th. The mining company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). The business had revenue of $469.90 million for the quarter, compared to the consensus estimate of $498.68 million. IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. As a group, sell-side analysts anticipate that IAMGOLD Co. will post 0.67 earnings per share for the current 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.