Euro Pacific Asset Management LLC Purchases 100,117 Shares of Iamgold Corporation $IAG

Key Points

• Euro Pacific Asset Management LLC increased its stake in Iamgold Corporation by 8.7% during the second quarter, now holding a total of 1,245,480 shares valued at approximately $9.15 million.
• Several institutional investors have recently boosted their positions in Iamgold, including Parallel Advisors LLC, which increased its holdings by 272.9%.
• Iamgold's stock has an average analyst rating of "Moderate Buy" with a consensus price target of $10.13, and the company reported a $0.13 EPS for its last quarter, missing estimates by $0.01.

Euro Pacific Asset Management LLC raised its position in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 8.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,245,480 shares of the mining company's stock after acquiring an additional 100,117 shares during the quarter. Iamgold makes up 1.5% of Euro Pacific Asset Management LLC's investment portfolio, making the stock its 22nd largest position. Euro Pacific Asset Management LLC owned 0.22% of Iamgold worth $9,154,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of IAG. Parallel Advisors LLC increased its holdings in Iamgold by 272.9% during the 2nd quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company's stock valued at $26,000 after purchasing an additional 2,623 shares during the period. Summit Securities Group LLC bought a new stake in shares of Iamgold in the 1st quarter worth approximately $35,000. Alpha Omega Wealth Management LLC bought a new stake in shares of Iamgold in the 1st quarter worth approximately $75,000. Avantax Advisory Services Inc. purchased a new position in shares of Iamgold during the first quarter valued at approximately $86,000. Finally, Vident Advisory LLC bought a new position in shares of Iamgold during the first quarter valued at approximately $92,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

IAG has been the topic of several recent analyst reports. National Bankshares reiterated an "outperform" rating on shares of Iamgold in a report on Tuesday, June 24th. Royal Bank Of Canada raised shares of Iamgold from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $9.00 to $14.00 in a research report on Wednesday, September 10th. CIBC reiterated an "outperform" rating on shares of Iamgold in a research report on Tuesday, July 15th. Zacks Research lowered shares of Iamgold from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Finally, Raymond James Financial raised Iamgold to a "hold" rating and set a $8.00 price objective on the stock in a research report on Monday, June 30th. 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $10.13.

Iamgold Trading Down 0.0%

Shares of NYSE IAG opened at $13.29 on Monday. Iamgold Corporation has a 1 year low of $4.44 and a 1 year high of $13.37. The firm has a 50-day moving average of $9.62 and a 200 day moving average of $7.89. The stock has a market cap of $7.64 billion, a P/E ratio of 9.56, a price-to-earnings-growth ratio of 0.45 and a beta of 1.24. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.47 and a quick ratio of 0.76.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last issued its quarterly earnings results on Thursday, August 7th. The mining company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.14 by ($0.01). The company had revenue of $587.21 million during the quarter, compared to the consensus estimate of $663.21 million. Iamgold had a return on equity of 8.54% and a net margin of 40.61%. As a group, sell-side analysts expect that Iamgold Corporation will post 0.67 EPS for the current fiscal 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.

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