Iamgold Corporation $IAG Stock Position Raised by Euro Pacific Asset Management LLC

Euro Pacific Asset Management LLC grew its position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 5.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,345,587 shares of the mining company’s stock after purchasing an additional 68,961 shares during the period. Iamgold accounts for about 1.7% of Euro Pacific Asset Management LLC’s portfolio, making the stock its 16th largest holding. Euro Pacific Asset Management LLC’s holdings in Iamgold were worth $24,772,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Van ECK Associates Corp increased its stake in shares of Iamgold by 2.7% during the second quarter. Van ECK Associates Corp now owns 38,110,975 shares of the mining company’s stock worth $603,742,000 after purchasing an additional 985,939 shares during the period. BlackRock Inc. bought a new stake in Iamgold in the 2nd quarter valued at $350,145,000. Donald Smith & CO. Inc. bought a new stake in Iamgold in the 2nd quarter valued at $206,146,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Iamgold in the 2nd quarter valued at $158,877,000. Finally, Bank of America Corp DE grew its holdings in Iamgold by 4.7% in the 1st quarter. Bank of America Corp DE now owns 9,589,342 shares of the mining company’s stock valued at $180,471,000 after buying an additional 434,188 shares in the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Iamgold Stock Performance

Shares of NYSE:IAG opened at $18.72 on Monday. Iamgold Corporation has a 12-month low of $12.03 and a 12-month high of $24.87. The company’s 50 day moving average price is $18.63 and its two-hundred day moving average price is $18.34. The firm has a market cap of $10.61 billion, a PE ratio of 8.28, a PEG ratio of 1.39 and a beta of 1.39. The company has a quick ratio of 1.66, a current ratio of 2.41 and a debt-to-equity ratio of 0.10.

Iamgold (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Thursday, November 5th. The mining company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.06. Iamgold had a net margin of 34.29% and a return on equity of 28.65%. The company had revenue of $843.58 million during the quarter, compared to the consensus estimate of $826.66 million. Equities research analysts predict that Iamgold Corporation will post 1.85 earnings per share for the current year.

Analyst Upgrades and Downgrades

IAG has been the topic of a number of research reports. Zacks Research lowered Iamgold from a “hold” rating to a “strong sell” rating in a report on Tuesday, October 20th. Royal Bank Of Canada lifted their target price on Iamgold from $20.00 to $23.00 and gave the stock an “outperform” rating in a report on Wednesday, September 16th. Scotiabank boosted their target price on shares of Iamgold from $22.00 to $23.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 12th. Canadian Imperial Bank of Commerce set a $25.00 target price on shares of Iamgold in a research report on Friday, October 16th. Finally, Jefferies Financial Group started coverage on shares of Iamgold in a research note on Thursday, August 20th. They issued a “buy” rating and a $24.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Iamgold currently has an average rating of “Moderate Buy” and a consensus price target of $22.71.

Iamgold Profile

IAMGOLD Corporation is a Canadian gold mining company that explores for, develops and operates mineral properties. Its business is focused primarily on producing gold, with operations in Canada and Burkina Faso.

The company’s assets include the Côté Gold mine in Ontario, the Westwood mine in Quebec and the Essakane mine in Burkina Faso. IAMGOLD also conducts exploration and development work to support its operating mines and assess potential mineral resources.

Founded in 1990, IAMGOLD has built a portfolio spanning North America and West Africa.