Triasima Portfolio Management inc. Reduces Stock Holdings in Iamgold Corporation $IAG

Triasima Portfolio Management inc. lessened its stake in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 8.6% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 694,050 shares of the mining company’s stock after selling 65,138 shares during the quarter. Iamgold comprises about 1.4% of Triasima Portfolio Management inc.’s holdings, making the stock its 19th largest holding. Triasima Portfolio Management inc.’s holdings in Iamgold were worth $8,969,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Parallel Advisors LLC lifted its position in shares of Iamgold by 272.9% during the second quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company’s stock worth $26,000 after purchasing an additional 2,623 shares in the last quarter. Measured Wealth Private Client Group LLC boosted its position in Iamgold by 4.0% in the 2nd quarter. Measured Wealth Private Client Group LLC now owns 89,293 shares of the mining company’s stock valued at $656,000 after buying an additional 3,396 shares during the last quarter. Banque Transatlantique SA acquired a new stake in shares of Iamgold during the second quarter valued at about $26,000. Vanguard Personalized Indexing Management LLC increased its position in shares of Iamgold by 10.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 36,901 shares of the mining company’s stock worth $271,000 after acquiring an additional 3,562 shares during the last quarter. Finally, Edmond DE Rothschild Holding S.A. lifted its stake in shares of Iamgold by 2.9% in the second quarter. Edmond DE Rothschild Holding S.A. now owns 184,612 shares of the mining company’s stock worth $1,357,000 after acquiring an additional 5,209 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Iamgold Stock Performance

Shares of NYSE IAG opened at $19.16 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.27. The firm’s 50-day moving average price is $15.80 and its two-hundred day moving average price is $12.06. Iamgold Corporation has a 52-week low of $5.02 and a 52-week high of $18.61. The stock has a market capitalization of $11.33 billion, a P/E ratio of 32.29, a P/E/G ratio of 0.23 and a beta of 1.38.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Tuesday, November 4th. The mining company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. The business had revenue of $714.61 million for the quarter, compared to analysts’ expectations of $759.45 million. Iamgold had a return on equity of 10.39% and a net margin of 15.39%. As a group, sell-side analysts forecast that Iamgold Corporation will post 0.67 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Iamgold in a report on Wednesday, October 8th. Raymond James Financial upped their target price on shares of Iamgold from $9.00 to $13.00 and gave the company a “market perform” rating in a research note on Friday, October 10th. Stifel Canada upgraded Iamgold from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 20th. CIBC boosted their price objective on Iamgold from $10.40 to $19.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Finally, Zacks Research raised Iamgold from a “hold” rating to a “strong-buy” rating in a report on Monday, December 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $15.25.

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.