Alps Advisors Inc. Raises Stock Position in Iamgold Corporation $IAG

Alps Advisors Inc. increased its position in shares of Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 54.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 354,192 shares of the mining company’s stock after acquiring an additional 125,600 shares during the quarter. Alps Advisors Inc. owned about 0.06% of Iamgold worth $4,580,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Banque Transatlantique SA acquired a new position in shares of Iamgold during the second quarter worth $26,000. Tsfg LLC acquired a new position in Iamgold during the 3rd quarter valued at about $26,000. Tableaux LLC purchased a new stake in Iamgold in the second quarter valued at about $61,000. Olympiad Research LP acquired a new stake in Iamgold in the second quarter worth about $87,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of Iamgold during the second quarter worth about $90,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Iamgold Trading Up 11.4%

Shares of Iamgold stock opened at $21.30 on Tuesday. The stock has a market cap of $12.59 billion, a PE ratio of 35.50, a price-to-earnings-growth ratio of 0.25 and a beta of 1.36. The firm has a fifty day moving average price of $17.53 and a 200 day moving average price of $13.41. Iamgold Corporation has a 1 year low of $5.02 and a 1 year high of $22.43. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.68 and a quick ratio of 0.95.

Analyst Upgrades and Downgrades

IAG has been the subject of several research analyst reports. Stifel Nicolaus raised shares of Iamgold from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Iamgold in a report on Thursday, January 22nd. Scotiabank boosted their price objective on shares of Iamgold to $23.00 and gave the company a “sector perform” rating in a report on Monday, January 26th. Wall Street Zen raised Iamgold from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Iamgold in a research report on Wednesday, February 4th. Two investment analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Iamgold presently has an average rating of “Moderate Buy” and an average target price of $17.25.

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.