Iamgold Corporation $IAG Stock Purchased by Euro Pacific Asset Management LLC

Euro Pacific Asset Management LLC boosted its position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 5.3% during the third quarter, Holdings Channel reports. The firm owned 1,344,447 shares of the mining company’s stock after buying an additional 67,821 shares during the quarter. Iamgold comprises approximately 1.8% of Euro Pacific Asset Management LLC’s holdings, making the stock its 15th biggest position. Euro Pacific Asset Management LLC’s holdings in Iamgold were worth $27,496,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. PenderFund Capital Management Ltd. acquired a new position in shares of Iamgold during the 2nd quarter worth $471,000. Walleye Capital LLC purchased a new stake in shares of Iamgold in the 2nd quarter worth about $12,969,000. RFG Advisory LLC acquired a new stake in Iamgold in the 2nd quarter valued at about $1,146,000. BlackRock Inc. acquired a new stake in Iamgold in the 2nd quarter valued at about $350,145,000. Finally, Amundi increased its holdings in Iamgold by 2.2% during the 2nd quarter. Amundi now owns 3,573,720 shares of the mining company’s stock valued at $56,608,000 after acquiring an additional 76,545 shares in the last quarter. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on IAG. Wall Street Zen downgraded shares of Iamgold from a “buy” rating to a “hold” rating in a report on Saturday, September 19th. Jefferies Financial Group began coverage on shares of Iamgold in a report on Thursday, August 20th. They issued a “buy” rating and a $24.00 price target on the stock. Bank of America lowered their price target on shares of Iamgold from $22.50 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. Scotiabank increased their price target on shares of Iamgold from $22.00 to $23.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 12th. Finally, Weiss Ratings raised shares of Iamgold from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.50.

Iamgold Price Performance

Shares of IAG traded down $0.30 during trading hours on Tuesday, reaching $18.27. 2,784,290 shares of the company traded hands, compared to its average volume of 6,689,969. The company has a quick ratio of 1.05, a current ratio of 1.71 and a debt-to-equity ratio of 0.10. The stock has a market capitalization of $10.39 billion, a PE ratio of 9.22, a price-to-earnings-growth ratio of 1.00 and a beta of 1.41. Iamgold Corporation has a fifty-two week low of $10.87 and a fifty-two week high of $24.87. The stock has a fifty day simple moving average of $19.36 and a 200 day simple moving average of $17.74.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Thursday, August 6th. The mining company reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. Iamgold had a return on equity of 28.97% and a net margin of 31.40%. The firm had revenue of $845.97 million during the quarter, compared to analysts’ expectations of $882.92 million. As a group, research analysts predict that Iamgold Corporation will post 1.91 EPS for the current fiscal year.

About Iamgold

IAMGOLD Corporation is a Canadian mining company focused on the exploration, development and production of gold. The company’s activities include operating mines, advancing development projects and evaluating mineral properties in established mining regions.

IAMGOLD’s portfolio includes the Essakane gold mine in Burkina Faso, the Côté Gold mine in Ontario, Canada, and the Westwood project in Quebec. Côté Gold is operated through a partnership with Sumitomo Metal Mining, while Westwood is being advanced as an underground mining project.