Iamgold Corporation $IAG Stock Holdings Lifted by Euro Pacific Asset Management LLC

Key Points

• Euro Pacific Asset Management increased its Iamgold stake by 5.3% to 1.34 million shares, worth approximately $27.5 million. Institutional and hedge-fund investors collectively own 47.08% of the company.
• Analysts maintain a generally positive outlook, with Iamgold receiving a “Moderate Buy” consensus rating and an average price target of $22.50, versus a recent share price of $18.27.
• Iamgold reported quarterly earnings of $0.42 per share, in line with estimates, while revenue of $845.97 million fell short of the $882.92 million consensus forecast.

Euro Pacific Asset Management LLC grew its holdings in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 5.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,344,447 shares of the mining company's stock after purchasing an additional 67,821 shares during the period. Iamgold makes up 1.8% of Euro Pacific Asset Management LLC's investment portfolio, making the stock its 15th largest position. Euro Pacific Asset Management LLC owned 0.24% of Iamgold worth $27,496,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Avior Wealth Management LLC acquired a new stake in shares of Iamgold during the third quarter worth about $535,000. Vann Equity Management LLC purchased a new stake in Iamgold during the 3rd quarter worth approximately $988,000. Wellington Altus USA Inc. increased its stake in Iamgold by 80.0% during the 2nd quarter. Wellington Altus USA Inc. now owns 24,192 shares of the mining company's stock worth $383,000 after buying an additional 10,754 shares during the period. Tidal Investments LLC increased its stake in Iamgold by 50.8% during the 2nd quarter. Tidal Investments LLC now owns 65,794 shares of the mining company's stock worth $1,042,000 after buying an additional 22,161 shares during the period. Finally, RFG Advisory LLC acquired a new stake in Iamgold during the 2nd quarter worth approximately $1,146,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Scotiabank boosted their target price on Iamgold from $22.00 to $23.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 12th. Wall Street Zen lowered Iamgold from a "buy" rating to a "hold" rating in a research report on Saturday, September 19th. Raymond James Financial increased 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. Royal Bank Of Canada lifted their price objective on Iamgold from $20.00 to $23.00 and gave the company an "outperform" rating in a research note on Wednesday, September 16th. Finally, Jefferies Financial Group started 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. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $22.50.

Iamgold Stock Performance

Shares of IAG traded down $0.30 during mid-day trading on Tuesday, hitting $18.27. 2,784,290 shares of the company's stock were exchanged, compared to its average volume of 6,689,969. Iamgold Corporation has a fifty-two week low of $10.87 and a fifty-two week high of $24.87. The firm has a market capitalization of $10.39 billion, a P/E ratio of 9.22, a P/E/G ratio of 1.00 and a beta of 1.41. The business's 50 day moving average is $19.36 and its two-hundred day moving average is $17.74. 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 issued its earnings results on Thursday, August 6th. The mining company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $845.97 million for the quarter, compared to the consensus estimate of $882.92 million. Iamgold had a net margin of 31.40% and a return on equity of 28.97%. On average, equities analysts expect that Iamgold Corporation will post 1.91 earnings per share for the current year.

Iamgold Profile

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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