DJE Kapital AG Sells 79,600 Shares of Iamgold Corporation $IAG

DJE Kapital AG decreased its holdings in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 30.6% in the 1st quarter, Holdings Channel reports. The firm owned 180,200 shares of the mining company’s stock after selling 79,600 shares during the period. DJE Kapital AG’s holdings in Iamgold were worth $3,275,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of IAG. Banque Transatlantique SA purchased a new stake in Iamgold in the second quarter valued at approximately $26,000. Pin Oak Investment Advisors Inc. purchased a new position in Iamgold in the 4th quarter worth approximately $30,000. Global Retirement Partners LLC purchased a new position in Iamgold in the 4th quarter worth approximately $33,000. FNY Investment Advisers LLC bought a new position in shares of Iamgold in the 4th quarter worth $38,000. Finally, LOM Asset Management Ltd bought a new position in shares of Iamgold in the 4th quarter worth $49,000. 47.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

IAG has been the topic of several research reports. Royal Bank Of Canada lowered their price objective on shares of Iamgold from $22.00 to $20.00 and set an “outperform” rating on the stock in a research report on Thursday, July 9th. Zacks Research cut Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 30th. Bank of America lowered their price target on Iamgold from $22.50 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Weiss Ratings lowered Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th. Finally, Scotiabank cut their price objective on Iamgold from $25.00 to $22.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $19.00.

Iamgold Price Performance

IAG opened at $13.97 on Tuesday. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.89 and a quick ratio of 1.21. The stock’s 50 day simple moving average is $16.36 and its 200 day simple moving average is $18.29. The firm has a market cap of $8.02 billion, a price-to-earnings ratio of 8.12, a PEG ratio of 0.61 and a beta of 1.30. Iamgold Corporation has a 1 year low of $6.69 and a 1 year high of $24.87.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Tuesday, May 5th. The mining company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.14. Iamgold had a return on equity of 26.65% and a net margin of 29.49%.The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $955.17 million. As a group, analysts predict that Iamgold Corporation will post 2.05 earnings per share for the current year.

Iamgold Company Profile

IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.

The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.