Hillsdale Investment Management Inc. Sells 113,380 Shares of IAMGOLD Co. (NYSE:IAG)

Hillsdale Investment Management Inc. cut its stake in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,117,975 shares of the mining company’s stock after selling 113,380 shares during the quarter. IAMGOLD accounts for about 0.8% of Hillsdale Investment Management Inc.’s investment portfolio, making the stock its 23rd largest holding. Hillsdale Investment Management Inc.’s holdings in IAMGOLD were worth $16,098,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. CIBC Asset Management Inc grew its stake in shares of IAMGOLD by 0.4% in the fourth quarter. CIBC Asset Management Inc now owns 700,955 shares of the mining company’s stock worth $3,615,000 after acquiring an additional 2,848 shares during the period. Bank of New York Mellon Corp grew its stake in shares of IAMGOLD by 12.7% in the fourth quarter. Bank of New York Mellon Corp now owns 35,046 shares of the mining company’s stock worth $181,000 after acquiring an additional 3,961 shares during the period. Northwest & Ethical Investments L.P. grew its stake in shares of IAMGOLD by 4.6% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 91,623 shares of the mining company’s stock worth $473,000 after acquiring an additional 4,013 shares during the period. Tobam bought a new stake in shares of IAMGOLD in the fourth quarter worth approximately $25,000. Finally, Blue Trust Inc. grew its stake in shares of IAMGOLD by 157.1% in the fourth quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock worth $47,000 after acquiring an additional 5,511 shares during the period. 47.08% of the stock is currently owned by institutional investors.

IAMGOLD Price Performance

Shares of NYSE:IAG opened at $6.05 on Friday. 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 Co. has a 1-year low of $2.94 and a 1-year high of $6.69. The company has a market capitalization of $3.46 billion, a P/E ratio of 4.17 and a beta of 1.63. The firm’s 50 day simple moving average is $5.93 and its two-hundred day simple moving average is $5.54.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Thursday, February 20th. The mining company reported $0.10 earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.05). IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. The firm had revenue of $469.90 million for the quarter, compared to analysts’ expectations of $498.68 million. Research analysts expect that IAMGOLD Co. will post 0.67 EPS for the current fiscal year.

Analysts Set New Price Targets

IAG has been the subject of a number of research analyst reports. StockNews.com lowered shares of IAMGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. CIBC raised their price objective on shares of IAMGOLD from $7.60 to $8.40 and gave the stock an “outperformer” rating in a report on Thursday. Raymond James raised shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, February 3rd. Finally, Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, IAMGOLD has a consensus rating of “Moderate Buy” and a consensus target price of $6.90.

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.