Van ECK Associates Corp Trims Holdings in Iamgold Corporation $IAG

Van ECK Associates Corp trimmed its position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 12.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,453,726 shares of the mining company’s stock after selling 6,538,341 shares during the quarter. Van ECK Associates Corp owned about 0.08% of Iamgold worth $749,537,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Banque Transatlantique SA purchased a new stake in Iamgold during the 2nd quarter valued at approximately $26,000. Global Retirement Partners LLC purchased a new stake in Iamgold during the 4th quarter valued at approximately $33,000. FNY Investment Advisers LLC purchased a new stake in Iamgold during the 4th quarter valued at approximately $38,000. LOM Asset Management Ltd purchased a new stake in Iamgold during the 4th quarter valued at approximately $49,000. Finally, Banque Cantonale Vaudoise grew its holdings in Iamgold by 617.8% during the 4th quarter. Banque Cantonale Vaudoise now owns 2,986 shares of the mining company’s stock valued at $49,000 after buying an additional 2,570 shares in the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Weiss Ratings lowered shares of Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday. Scotiabank increased their price objective on shares of Iamgold to $25.00 and gave the company a “sector perform” rating in a report on Wednesday, February 25th. Wall Street Zen raised shares of Iamgold from a “buy” rating to a “strong-buy” rating in a report on Saturday, February 21st. TD Securities reissued a “buy” rating on shares of Iamgold in a report on Thursday, February 19th. Finally, Zacks Research lowered shares of Iamgold from a “strong-buy” rating to a “hold” rating in a report on Monday, March 30th. One analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $17.75.

Iamgold Trading Up 2.9%

IAG stock opened at $16.60 on Friday. The firm has a fifty day moving average price of $17.67 and a 200 day moving average price of $18.28. Iamgold Corporation has a fifty-two week low of $6.69 and a fifty-two week high of $24.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.89. The firm has a market cap of $9.60 billion, a PE ratio of 9.65, a price-to-earnings-growth ratio of 0.78 and a beta of 1.25.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.14. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $955.17 million. Iamgold had a return on equity of 26.65% and a net margin of 29.49%. Sell-side analysts anticipate that Iamgold Corporation will post 2.27 earnings per share for the current fiscal year.

About Iamgold

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.