292,163 Shares in Iamgold Corporation $IAG Purchased by Triasima Portfolio Management inc.

Key Points

• Triasima Portfolio Management purchased 292,163 IAMGOLD shares worth approximately $5.4 million, acquiring a 0.05% stake. Institutional investors collectively own 47.08% of the company.
• Analysts remain generally positive, with IAMGOLD receiving a “Moderate Buy” consensus rating and an average price target of $22.50; recent targets range from $21 to $24.
• IAMGOLD reported quarterly EPS of $0.42, matching estimates, while revenue of $845.97 million fell short of the $882.92 million consensus forecast. The stock opened at $17.75, with a market capitalization of approximately $10.1 billion.

Triasima Portfolio Management inc. purchased a new stake in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 292,163 shares of the mining company's stock, valued at approximately $5,398,000. Triasima Portfolio Management inc. owned about 0.05% of Iamgold as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Pin Oak Investment Advisors Inc. bought a new position in Iamgold in the 2nd quarter worth $28,000. Western Wealth Management LLC acquired a new position in Iamgold during the 1st quarter worth $43,000. EverSource Wealth Advisors LLC boosted its holdings in Iamgold by 73.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,712 shares of the mining company's stock valued at $51,000 after acquiring an additional 1,150 shares during the period. IFP Advisors Inc boosted its holdings in Iamgold by 33.2% during the second quarter. IFP Advisors Inc now owns 3,262 shares of the mining company's stock valued at $52,000 after acquiring an additional 813 shares during the period. Finally, EFG International AG bought a new stake in Iamgold during the second quarter valued at about $79,000. Institutional investors own 47.08% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on IAG. Raymond James Financial raised their price target on Iamgold from $20.00 to $21.00 and gave the company a "market perform" rating in a research report on Friday, September 4th. Jefferies Financial Group assumed coverage on Iamgold in a research report on Thursday, August 20th. They set a "buy" rating and a $24.00 price objective for the company. Freedom Broker started coverage on Iamgold in a research report on Wednesday, October 7th. They set a "buy" rating and a $23.00 price objective for the company. Royal Bank Of Canada increased their target price on Iamgold from $20.00 to $23.00 and gave the company an "outperform" rating in a research note on Wednesday, September 16th. Finally, Scotiabank increased their target price on Iamgold from $22.00 to $23.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 12th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $22.50.

Iamgold Trading Up 4.1%

Shares of Iamgold stock opened at $17.75 on Friday. Iamgold Corporation has a 1 year low of $10.87 and a 1 year high of $24.87. The company's fifty day simple moving average is $19.49 and its 200-day simple moving average is $17.74. The company has a market cap of $10.10 billion, a price-to-earnings ratio of 8.97, a PEG ratio of 1.23 and a beta of 1.41. The company has a current ratio of 1.71, a quick ratio of 1.05 and a debt-to-equity ratio of 0.10.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last released its earnings results on Thursday, August 6th. The mining company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The firm had revenue of $845.97 million during the quarter, compared to analysts' expectations of $882.92 million. Iamgold had a net margin of 31.40% and a return on equity of 28.97%. As a group, sell-side analysts expect that Iamgold Corporation will post 1.90 EPS for the current year.

About Iamgold

IAMGOLD Corporation is a Canadian mining company focused on the exploration, development and production of gold. The company's activities include operating mines, advancing development projects and evaluating mineral properties in established mining regions.

IAMGOLD's portfolio includes the Essakane gold mine in Burkina Faso, the Côté Gold mine in Ontario, Canada, and the Westwood project in Quebec. Côté Gold is operated through a partnership with Sumitomo Metal Mining, while Westwood is being advanced as an underground mining project.

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