Euro Pacific Asset Management LLC Has $22.10 Million Stake in Iamgold Corporation $IAG

Euro Pacific Asset Management LLC lowered its holdings in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 8.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,343,139 shares of the mining company’s stock after selling 130,418 shares during the period. Iamgold comprises about 0.1% of Euro Pacific Asset Management LLC’s portfolio, making the stock its 15th largest holding. Euro Pacific Asset Management LLC owned 0.23% of Iamgold worth $22,104,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its stake in shares of Iamgold by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 220,452 shares of the mining company’s stock worth $2,849,000 after buying an additional 1,303 shares during the last quarter. Vanguard Personalized Indexing Management LLC increased its position in shares of Iamgold by 4.3% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 38,499 shares of the mining company’s stock valued at $498,000 after acquiring an additional 1,598 shares during the last quarter. Tsfg LLC acquired a new stake in shares of Iamgold in the third quarter valued at about $26,000. Creative Planning raised its holdings in Iamgold by 18.1% during the third quarter. Creative Planning now owns 15,987 shares of the mining company’s stock worth $207,000 after acquiring an additional 2,451 shares in the last quarter. Finally, Aventura Private Wealth LLC bought a new stake in Iamgold during the fourth quarter worth about $58,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Iamgold in a research note on Wednesday, February 4th. Wall Street Zen upgraded Iamgold from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 21st. Scotiabank increased their price objective on Iamgold to $25.00 and gave the company a “sector perform” rating in a report on Wednesday, February 25th. Zacks Research raised shares of Iamgold from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. Finally, TD Securities restated a “buy” rating on shares of Iamgold in a report on Thursday, February 19th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $17.75.

Insider Buying and Selling at Iamgold

In related news, Director David Stewart Smith sold 31,000 shares of the stock in a transaction on Friday, February 27th. The stock was sold at an average price of $32.87, for a total value of $1,018,970.00. Following the sale, the director owned 20,000 shares in the company, valued at approximately $657,400. This represents a 60.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.17% of the company’s stock.

Iamgold Trading Down 1.4%

Iamgold stock opened at $17.49 on Tuesday. The stock has a 50-day simple moving average of $20.47 and a 200 day simple moving average of $16.43. The stock has a market capitalization of $10.28 billion, a P/E ratio of 15.20, a PEG ratio of 1.41 and a beta of 1.32. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.75. Iamgold Corporation has a 52 week low of $5.35 and a 52 week high of $24.87.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Tuesday, February 17th. The mining company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.15. Iamgold had a return on equity of 19.26% and a net margin of 23.29%.The firm had revenue of $1.08 billion for the quarter, compared to analyst estimates of $1.08 billion. Analysts expect that Iamgold Corporation will post 0.67 earnings per share for the current year.

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.