Euro Pacific Asset Management LLC Trims Holdings in Iamgold Corporation $IAG

Euro Pacific Asset Management LLC reduced its stake in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 5.5% in the first quarter, Holdings Channel reports. The firm owned 1,269,611 shares of the mining company’s stock after selling 73,528 shares during the period. Iamgold accounts for approximately 2.3% of Euro Pacific Asset Management LLC’s holdings, making the stock its 15th largest position. Euro Pacific Asset Management LLC’s holdings in Iamgold were worth $23,873,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. bought a new position in Iamgold in the 4th quarter worth about $30,000. Global Retirement Partners LLC bought a new stake in shares of Iamgold during the fourth quarter valued at approximately $33,000. FNY Investment Advisers LLC purchased a new stake in shares of Iamgold in the fourth quarter valued at approximately $38,000. LOM Asset Management Ltd purchased a new stake in shares of Iamgold in the fourth quarter valued at approximately $49,000. Finally, Banque Cantonale Vaudoise grew its stake in Iamgold by 617.8% in the fourth quarter. Banque Cantonale Vaudoise now owns 2,986 shares of the mining company’s stock worth $49,000 after purchasing an additional 2,570 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Iamgold Price Performance

Shares of IAG stock opened at $14.12 on Friday. The stock’s 50-day moving average is $16.46 and its 200 day moving average is $18.30. Iamgold Corporation has a 1-year low of $6.69 and a 1-year high of $24.87. 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 company has a market cap of $8.11 billion, a P/E ratio of 8.21, a PEG ratio of 0.61 and a beta of 1.30.

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

Wall Street Analysts Forecast Growth

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

Iamgold 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.