Allianz Asset Management GmbH Has $69,000 Stock Position in Iamgold Corporation (NYSE:IAG)

Allianz Asset Management GmbH decreased its stake in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 83.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,126 shares of the mining company's stock after selling 58,031 shares during the period. Allianz Asset Management GmbH's holdings in Iamgold were worth $69,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in IAG. Raymond James Financial Inc. purchased a new stake in shares of Iamgold in the fourth quarter valued at $107,000. LPL Financial LLC increased its stake in shares of Iamgold by 79.2% during the fourth quarter. LPL Financial LLC now owns 54,277 shares of the mining company's stock worth $280,000 after buying an additional 23,990 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Iamgold by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 21,232,871 shares of the mining company's stock worth $109,741,000 after purchasing an additional 321,458 shares during the period. Franklin Resources Inc. raised its stake in shares of Iamgold by 5.3% during the 4th quarter. Franklin Resources Inc. now owns 36,156 shares of the mining company's stock worth $187,000 after buying an additional 1,836 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Iamgold by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 274,756 shares of the mining company's stock worth $1,435,000 after purchasing an additional 10,468 shares during the period. Institutional investors own 47.08% of the company's stock.

Iamgold Trading Up 5.1%

Iamgold stock traded up $0.39 during midday trading on Wednesday, reaching $7.87. The stock had a trading volume of 16,859,873 shares, compared to its average volume of 14,234,422. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.29. The firm has a market cap of $4.52 billion, a price-to-earnings ratio of 5.58, a price-to-earnings-growth ratio of 0.22 and a beta of 1.08. The company has a fifty day moving average of $7.22 and a 200 day moving average of $6.66. Iamgold Corporation has a 52-week low of $3.55 and a 52-week high of $8.38.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last announced its earnings results on Tuesday, May 6th. The mining company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The firm had revenue of $457.23 million for the quarter, compared to the consensus estimate of $578.70 million. Iamgold had a net margin of 45.42% and a return on equity of 9.26%. On average, analysts anticipate that Iamgold Corporation will post 0.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

IAG has been the subject of a number of research analyst reports. National Bankshares reissued an "outperform" rating on shares of Iamgold in a research note on Tuesday, June 24th. Scotiabank raised their target price on shares of Iamgold from $7.50 to $7.75 and gave the company a "sector perform" rating in a research note on Monday, May 12th. BMO Capital Markets began coverage on shares of Iamgold in a report on Wednesday, April 16th. They issued an "outperform" rating on the stock. CIBC reissued an "outperform" rating on shares of Iamgold in a report on Tuesday, July 15th. Finally, Raymond James Financial raised shares of Iamgold to a "hold" rating and set a $8.00 target price for the company in a research note on Monday, June 30th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $8.53.

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.