Allianz Asset Management GmbH Sells 58,031 Shares of Iamgold Corporation (NYSE:IAG)

Allianz Asset Management GmbH lowered its stake in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 83.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,126 shares of the mining company’s stock after selling 58,031 shares during the quarter. Allianz Asset Management GmbH’s holdings in Iamgold were worth $69,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Alpha Omega Wealth Management LLC acquired a new stake in Iamgold in the 1st quarter worth $75,000. Ritholtz Wealth Management acquired a new position in shares of Iamgold during the first quarter valued at about $94,000. Tudor Investment Corp ET AL lifted its stake in shares of Iamgold by 63.3% in the fourth quarter. Tudor Investment Corp ET AL now owns 18,986 shares of the mining company’s stock valued at $98,000 after buying an additional 7,359 shares during the period. Bank of Nova Scotia acquired a new stake in Iamgold during the fourth quarter worth about $101,000. Finally, CenterBook Partners LP increased its stake in Iamgold by 75.8% during the fourth quarter. CenterBook Partners LP now owns 19,691 shares of the mining company’s stock valued at $102,000 after acquiring an additional 8,491 shares during the period. Institutional investors own 47.08% of the company’s stock.

Iamgold Price Performance

NYSE:IAG opened at $7.26 on Tuesday. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.29. The firm has a market cap of $4.18 billion, a PE ratio of 5.15, a price-to-earnings-growth ratio of 0.21 and a beta of 1.08. Iamgold Corporation has a 12 month low of $3.44 and a 12 month high of $8.38. The company’s 50-day moving average price is $7.20 and its two-hundred day moving average price is $6.65.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its earnings results on Tuesday, May 6th. The mining company reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. The business had revenue of $457.23 million for the quarter, compared to the consensus estimate of $578.70 million. Iamgold had a return on equity of 9.26% and a net margin of 45.42%. On average, equities analysts anticipate that Iamgold Corporation will post 0.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. CIBC reissued an “outperform” rating on shares of Iamgold in a report on Tuesday, July 15th. BMO Capital Markets started coverage on shares of Iamgold in a research note on Wednesday, April 16th. They set an “outperform” rating on the stock. National Bankshares restated an “outperform” rating on shares of Iamgold in a research note on Tuesday, June 24th. Raymond James Financial raised shares of Iamgold to a “hold” rating and set a $8.00 price objective for the company in a report on Monday, June 30th. Finally, Scotiabank upped their target price on shares of Iamgold from $7.50 to $7.75 and gave the company a “sector perform” rating in a research note on Monday, May 12th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Iamgold currently has an average rating of “Moderate Buy” and a consensus target price of $8.53.

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.