Jupiter Asset Management Ltd. Sells 79,811 Shares of Iamgold Corporation $IAG

Jupiter Asset Management Ltd. lowered its holdings in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 52.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 72,612 shares of the mining company’s stock after selling 79,811 shares during the period. Jupiter Asset Management Ltd.’s holdings in Iamgold were worth $938,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Tsfg LLC bought a new stake in shares of Iamgold in the third quarter valued at approximately $26,000. Banque Transatlantique SA acquired a new position in Iamgold in the 2nd quarter valued at $26,000. Tableaux LLC bought a new stake in shares of Iamgold during the 2nd quarter valued at $61,000. Olympiad Research LP acquired a new stake in shares of Iamgold during the 2nd quarter worth $87,000. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in shares of Iamgold during the 2nd quarter worth $90,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Iamgold Stock Down 0.6%

Shares of NYSE:IAG opened at $22.24 on Monday. Iamgold Corporation has a 52-week low of $5.02 and a 52-week high of $23.06. The company has a market capitalization of $13.15 billion, a PE ratio of 19.34, a price-to-earnings-growth ratio of 0.26 and a beta of 1.36. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.75. The company has a fifty day moving average of $18.66 and a 200-day moving average of $14.33.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Tuesday, February 17th. The mining company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.15. Iamgold had a return on equity of 19.26% and a net margin of 23.29%.The business had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. On average, equities analysts predict that Iamgold Corporation will post 0.67 EPS for the current fiscal year.

Analyst Ratings Changes

IAG has been the subject of several recent analyst reports. TD Securities reaffirmed a “buy” rating on shares of Iamgold in a research report on Thursday. Zacks Research downgraded shares of Iamgold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Wall Street Zen raised shares of Iamgold from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Scotiabank boosted their price objective on shares of Iamgold to $23.00 and gave the company a “sector perform” rating in a research report on Monday, January 26th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Iamgold has a consensus rating of “Moderate Buy” and an average price target of $17.25.

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.