DJE Kapital AG Decreases Holdings in Iamgold Corporation $IAG

Key Points

• DJE Kapital AG cut its Iamgold stake by 30.6% in the first quarter, selling 79,600 shares and leaving it with 180,200 shares worth about $3.28 million.
• Several analysts remain constructive on Iamgold, with a consensus rating of “Moderate Buy” and an average price target of $19.00, though some firms recently trimmed their targets.
• Iamgold recently beat earnings expectations, reporting $0.66 EPS versus the $0.52 consensus and revenue of $1.01 billion, while the stock was trading at $13.97, below both its 50-day and 200-day moving averages.

DJE Kapital AG decreased its stake in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 30.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 180,200 shares of the mining company's stock after selling 79,600 shares during the period. DJE Kapital AG's holdings in Iamgold were worth $3,275,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Pin Oak Investment Advisors Inc. bought a new stake in shares of Iamgold in the 4th quarter worth approximately $30,000. Global Retirement Partners LLC bought a new position in Iamgold during the fourth quarter valued at $33,000. FNY Investment Advisers LLC purchased a new stake in Iamgold in the fourth quarter worth $38,000. LOM Asset Management Ltd purchased a new stake in Iamgold in the fourth quarter worth $49,000. Finally, Banque Cantonale Vaudoise lifted its position in shares of Iamgold by 617.8% during the 4th quarter. Banque Cantonale Vaudoise now owns 2,986 shares of the mining company's stock valued at $49,000 after buying an additional 2,570 shares during the last quarter. 47.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on IAG. Scotiabank lowered their price objective on Iamgold from $25.00 to $22.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 14th. Royal Bank Of Canada cut their target price on shares of Iamgold from $22.00 to $20.00 and set an "outperform" rating for the company in a research report on Thursday, July 9th. Weiss Ratings lowered shares of Iamgold from a "buy (b)" rating to a "buy (b-)" rating in a research report on Tuesday, June 9th. Bank of America lowered their price target on shares of Iamgold from $22.50 to $21.00 and set a "buy" rating on the stock in a research report on Thursday, July 9th. Finally, Zacks Research cut shares of Iamgold from a "strong-buy" rating to a "hold" rating in a research note on Monday, March 30th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Iamgold presently has a consensus rating of "Moderate Buy" and an average price target of $19.00.

Iamgold Stock Down 1.2%

Shares of NYSE:IAG opened at $13.97 on Tuesday. The firm has a fifty day moving average price of $16.36 and a two-hundred day moving average price of $18.29. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.89 and a quick ratio of 1.21. Iamgold Corporation has a one year low of $6.69 and a one year high of $24.87. The company has a market cap of $8.02 billion, a price-to-earnings ratio of 8.12, a PEG ratio of 0.61 and a beta of 1.30.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last released its quarterly earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.14. The firm had revenue of $1.01 billion for the quarter, compared to analysts' expectations of $955.17 million. Iamgold had a net margin of 29.49% and a return on equity of 26.65%. Analysts anticipate that Iamgold Corporation will post 2.05 EPS for the current fiscal year.

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.

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