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

Key Points

• Euro Pacific Asset Management increased its Iamgold stake by 5.4% in the third quarter, adding 68,961 shares to bring its holdings to 1.35 million shares, valued at about $24.8 million.
• Analyst opinions were mixed, but MarketBeat reported an overall “Moderate Buy” rating and a consensus price target of $22.71.
• Iamgold beat quarterly earnings and revenue estimates, reporting EPS of $0.42 versus a $0.36 consensus and revenue of $843.58 million versus $826.66 million expected.

Euro Pacific Asset Management LLC increased its stake in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 5.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,345,587 shares of the mining company's stock after buying an additional 68,961 shares during the quarter. Iamgold makes up 1.7% of Euro Pacific Asset Management LLC's holdings, making the stock its 16th biggest position. Euro Pacific Asset Management LLC owned about 0.24% of Iamgold worth $24,772,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Sigma Planning Corp increased its holdings in Iamgold by 1.9% during the second quarter. Sigma Planning Corp now owns 41,660 shares of the mining company's stock worth $660,000 after buying an additional 765 shares during the last quarter. IFP Advisors Inc raised its position in Iamgold by 33.2% during the second quarter. IFP Advisors Inc now owns 3,262 shares of the mining company's stock worth $52,000 after acquiring an additional 813 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Iamgold by 73.6% in 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 last quarter. Alps Advisors Inc. lifted its stake in Iamgold by 0.4% in the third quarter. Alps Advisors Inc. now owns 368,612 shares of the mining company's stock valued at $6,786,000 after acquiring an additional 1,448 shares during the last quarter. Finally, Pin Oak Investment Advisors Inc. acquired a new stake in Iamgold in the second quarter valued at $28,000. Institutional investors and hedge funds own 47.08% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Canadian Imperial Bank of Commerce set a $25.00 price objective on shares of Iamgold in a research note on Friday, October 16th. Zacks Research cut shares of Iamgold from a "hold" rating to a "strong sell" rating in a report on Tuesday, October 20th. Jefferies Financial Group initiated coverage on shares of Iamgold in a research note on Thursday, August 20th. They issued a "buy" rating and a $24.00 target price for the company. Wall Street Zen cut Iamgold from a "buy" rating to a "hold" rating in a report on Saturday, September 19th. Finally, Scotiabank boosted their price target on Iamgold from $22.00 to $23.00 and gave the stock a "sector perform" rating in a research report on Wednesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Iamgold has an average rating of "Moderate Buy" and a consensus price target of $22.71.

Iamgold Trading Down 0.2%

IAG stock opened at $18.72 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 2.41 and a quick ratio of 1.66. The company has a fifty day moving average price of $18.63 and a two-hundred day moving average price of $18.34. Iamgold Corporation has a one year low of $12.03 and a one year high of $24.87. The stock has a market cap of $10.61 billion, a price-to-earnings ratio of 8.28, a price-to-earnings-growth ratio of 1.39 and a beta of 1.39.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last issued its quarterly earnings data on Thursday, November 5th. The mining company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.06. The company had revenue of $843.58 million for the quarter, compared to analyst estimates of $826.66 million. Iamgold had a net margin of 34.29% and a return on equity of 28.65%. Equities analysts anticipate that Iamgold Corporation will post 1.85 EPS for the current year.

About Iamgold

IAMGOLD Corporation is a Canadian gold mining company that explores for, develops and operates mineral properties. Its business is focused primarily on producing gold, with operations in Canada and Burkina Faso.

The company's assets include the Côté Gold mine in Ontario, the Westwood mine in Quebec and the Essakane mine in Burkina Faso. IAMGOLD also conducts exploration and development work to support its operating mines and assess potential mineral resources.

Founded in 1990, IAMGOLD has built a portfolio spanning North America and West Africa.

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