Euro Pacific Asset Management LLC Sells 570,323 Shares of IAMGOLD Co. (NYSE:IAG)

Euro Pacific Asset Management LLC cut its holdings in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 22.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,924,836 shares of the mining company’s stock after selling 570,323 shares during the quarter. IAMGOLD comprises about 1.8% of Euro Pacific Asset Management LLC’s holdings, making the stock its 25th largest position. Euro Pacific Asset Management LLC’s holdings in IAMGOLD were worth $10,075,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its stake in shares of IAMGOLD by 8.8% during the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock valued at $276,639,000 after acquiring an additional 4,267,084 shares during the last quarter. Donald Smith & CO. Inc. increased its holdings in IAMGOLD by 0.8% in the first quarter. Donald Smith & CO. Inc. now owns 36,077,268 shares of the mining company’s stock valued at $120,137,000 after purchasing an additional 298,959 shares during the period. Vanguard Group Inc. raised its position in IAMGOLD by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company’s stock worth $58,871,000 after purchasing an additional 168,302 shares during the last quarter. Millennium Management LLC lifted its holdings in IAMGOLD by 194.2% during the 2nd quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company’s stock worth $29,573,000 after buying an additional 5,204,715 shares during the period. Finally, American Century Companies Inc. grew its position in shares of IAMGOLD by 28.6% in the 2nd quarter. American Century Companies Inc. now owns 5,708,298 shares of the mining company’s stock valued at $21,423,000 after buying an additional 1,270,608 shares during the last quarter. 47.08% of the stock is owned by institutional investors.

IAMGOLD Trading Down 0.8 %

IAG opened at $4.94 on Friday. The company has a fifty day moving average price of $5.29 and a two-hundred day moving average price of $4.54. IAMGOLD Co. has a 1-year low of $2.11 and a 1-year high of $6.37. The company has a market cap of $2.82 billion, a P/E ratio of 3.86 and a beta of 1.57. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. StockNews.com upgraded IAMGOLD from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Scotiabank boosted their price target on shares of IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and increased their price objective for the stock from $7.75 to $10.50 in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $6.00 target price on shares of IAMGOLD in a research note on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.68.

IAMGOLD Company Profile

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.