Iamgold Corporation $IAG Shares Sold by Entropy Technologies LP

Entropy Technologies LP lessened its stake in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 18.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 212,251 shares of the mining company’s stock after selling 47,202 shares during the quarter. Entropy Technologies LP’s holdings in Iamgold were worth $3,995,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Mariner LLC grew its position in shares of Iamgold by 0.6% in the 4th quarter. Mariner LLC now owns 110,033 shares of the mining company’s stock valued at $1,814,000 after buying an additional 615 shares during the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position in Iamgold by 1.9% in the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 37,000 shares of the mining company’s stock valued at $612,000 after acquiring an additional 700 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Iamgold by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 220,452 shares of the mining company’s stock valued at $2,849,000 after acquiring an additional 1,303 shares during the last quarter. Northwest & Ethical Investments L.P. boosted its stake in Iamgold by 0.4% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 343,605 shares of the mining company’s stock valued at $5,716,000 after acquiring an additional 1,424 shares in the last quarter. Finally, Franklin Resources Inc. boosted its stake in Iamgold by 4.8% in the fourth quarter. Franklin Resources Inc. now owns 32,011 shares of the mining company’s stock valued at $528,000 after acquiring an additional 1,474 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Iamgold Stock Down 0.6%

IAG opened at $14.64 on Friday. The business has a 50 day moving average price of $16.08 and a two-hundred day moving average price of $18.24. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.12. The company has a market cap of $8.41 billion, a PE ratio of 8.51, a P/E/G ratio of 0.65 and a beta of 1.30. Iamgold Corporation has a 52 week low of $6.69 and a 52 week high of $24.87.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.14. Iamgold had a return on equity of 26.65% and a net margin of 29.49%.The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $955.17 million. As a group, research analysts anticipate that Iamgold Corporation will post 1.98 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Royal Bank Of Canada cut their target price 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 dropped 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, July 14th. Wall Street Zen lowered Iamgold from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Weiss Ratings cut Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, June 9th. Finally, Zacks Research downgraded 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 issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.00.

Iamgold Company 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.