Euro Pacific Asset Management LLC Has $7.32 Million Stake in IAMGOLD Co. (NYSE:IAG)

Euro Pacific Asset Management LLC lowered its holdings in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 26.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,408,027 shares of the mining company’s stock after selling 516,809 shares during the quarter. IAMGOLD accounts for about 1.6% of Euro Pacific Asset Management LLC’s portfolio, making the stock its 25th biggest position. Euro Pacific Asset Management LLC owned about 0.25% of IAMGOLD worth $7,324,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. ORG Partners LLC acquired a new stake in IAMGOLD during the 3rd quarter worth approximately $29,000. Eastern Bank acquired a new stake in shares of IAMGOLD during the third quarter worth $30,000. Aigen Investment Management LP lifted its position in IAMGOLD by 10.6% in the 3rd quarter. Aigen Investment Management LP now owns 70,244 shares of the mining company’s stock valued at $368,000 after acquiring an additional 6,704 shares in the last quarter. Geode Capital Management LLC boosted its stake in IAMGOLD by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 264,288 shares of the mining company’s stock worth $1,392,000 after purchasing an additional 6,874 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its holdings in IAMGOLD by 3.0% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 306,980 shares of the mining company’s stock worth $1,154,000 after purchasing an additional 8,972 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $6.00 price objective on shares of IAMGOLD in a research report on Tuesday, October 22nd. CIBC raised IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday, December 2nd. National Bank Financial upgraded shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Finally, Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $6.57.

IAMGOLD Stock Up 4.4 %

Shares of IAG stock opened at $6.06 on Friday. IAMGOLD Co. has a 52-week low of $2.32 and a 52-week high of $6.37. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. The stock has a market cap of $3.46 billion, a price-to-earnings ratio of 4.73 and a beta of 1.56. The firm’s 50-day moving average is $5.46 and its 200-day moving average is $5.10.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Thursday, November 7th. The mining company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. The company had revenue of $438.90 million during the quarter. IAMGOLD had a return on equity of 10.01% and a net margin of 49.56%. During the same period in the previous year, the business earned ($0.01) earnings per share. Sell-side analysts predict that IAMGOLD Co. will post 0.58 EPS for the current year.

IAMGOLD 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.