Triasima Portfolio Management inc. Has $5.58 Million Holdings in Iamgold Corporation $IAG

Key Points

• Triasima Portfolio Management Inc. increased its holdings in Iamgold Corporation by 189.2%, owning approximately 759,188 shares valued at $5.58 million as of the latest filing.
• Wall Street analysts have mixed ratings on Iamgold, with Royal Bank of Canada upgrading the stock to "outperform" and raising the target price from $9.00 to $14.00, while Zacks Research downgraded it from "strong buy" to "hold."
• Iamgold reported Q2 earnings of $0.13 per share, missing the consensus estimate of $0.14, with revenues of $587.21 million compared to an expected $663.21 million.

Triasima Portfolio Management inc. lifted its position in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 189.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 759,188 shares of the mining company's stock after purchasing an additional 496,686 shares during the quarter. Triasima Portfolio Management inc. owned approximately 0.13% of Iamgold worth $5,581,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of IAG. Parallel Advisors LLC lifted its position in shares of Iamgold by 272.9% during the 2nd quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company's stock worth $26,000 after buying an additional 2,623 shares during the period. Hsbc Holdings PLC lifted its position in shares of Iamgold by 17.8% during the 1st quarter. Hsbc Holdings PLC now owns 19,973 shares of the mining company's stock worth $125,000 after buying an additional 3,020 shares during the period. Summit Securities Group LLC bought a new position in shares of Iamgold during the 1st quarter worth approximately $35,000. Harvest Portfolios Group Inc. lifted its position in shares of Iamgold by 6.7% during the 1st quarter. Harvest Portfolios Group Inc. now owns 91,349 shares of the mining company's stock worth $570,000 after buying an additional 5,755 shares during the period. Finally, Cetera Investment Advisers lifted its position in shares of Iamgold by 2.5% during the 1st quarter. Cetera Investment Advisers now owns 311,376 shares of the mining company's stock worth $1,946,000 after buying an additional 7,677 shares during the period. Institutional investors and hedge funds own 47.08% of the company's stock.

Wall Street Analysts Forecast Growth

IAG has been the subject of several analyst reports. Royal Bank Of Canada upgraded 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. Weiss Ratings restated a "buy (b)" rating on shares of Iamgold in a research report on Saturday, September 27th. National Bankshares restated an "outperform" rating on shares of Iamgold in a research report on Tuesday, June 24th. Zacks Research downgraded Iamgold from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. Finally, CIBC restated an "outperform" rating on shares of Iamgold in a research report on Tuesday, July 15th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $10.13.

Iamgold Trading Down 5.0%

Shares of IAG opened at $13.04 on Wednesday. The stock has a fifty day moving average price of $9.88 and a two-hundred day moving average price of $7.98. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.76 and a current ratio of 1.47. Iamgold Corporation has a 52-week low of $4.44 and a 52-week high of $13.99. The company has a market cap of $7.50 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 0.47 and a beta of 1.24.

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

Iamgold Company 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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