Euro Pacific Asset Management LLC Has $7.32 Million Stake in IAMGOLD Co. (NYSE:IAG)

Euro Pacific Asset Management LLC lowered its position in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 26.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,408,027 shares of the mining company’s stock after selling 516,809 shares during the quarter. IAMGOLD accounts for 1.6% of Euro Pacific Asset Management LLC’s portfolio, making the stock its 25th biggest holding. Euro Pacific Asset Management LLC’s holdings in IAMGOLD were worth $7,324,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in IAMGOLD by 66.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,511,328 shares of the mining company’s stock worth $7,904,000 after buying an additional 604,259 shares during the period. Virtu Financial LLC bought a new position in IAMGOLD during the third quarter worth about $267,000. Toronto Dominion Bank raised its position in shares of IAMGOLD by 15.6% in the third quarter. Toronto Dominion Bank now owns 274,377 shares of the mining company’s stock valued at $1,435,000 after buying an additional 37,005 shares in the last quarter. Geode Capital Management LLC raised its position in shares of IAMGOLD by 2.7% in the third quarter. Geode Capital Management LLC now owns 264,288 shares of the mining company’s stock valued at $1,392,000 after buying an additional 6,874 shares in the last quarter. Finally, Public Employees Retirement System of Ohio acquired a new stake in IAMGOLD during the third quarter worth approximately $1,083,000. 47.08% of the stock is owned by institutional investors and hedge funds.

IAMGOLD Stock Performance

Shares of IAMGOLD stock opened at $6.06 on Friday. The company’s 50 day moving average price is $5.46 and its two-hundred day moving average price is $5.10. The firm has a market capitalization of $3.46 billion, a P/E ratio of 4.73 and a beta of 1.56. IAMGOLD Co. has a fifty-two week low of $2.32 and a fifty-two week high of $6.37. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Thursday, November 7th. The mining company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.07. IAMGOLD had a return on equity of 10.01% and a net margin of 49.56%. The company had revenue of $438.90 million for the quarter. During the same period last year, the business earned ($0.01) EPS. On average, equities analysts forecast that IAMGOLD Co. will post 0.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

IAG has been the subject of several analyst reports. Raymond James dropped their price objective on IAMGOLD from $6.50 to $6.00 and set an “underperform” rating for the company in a report on Wednesday, January 15th. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 target price on shares of IAMGOLD in a report on Tuesday, October 22nd. StockNews.com downgraded shares of IAMGOLD from a “buy” rating to a “hold” rating in a report on Wednesday, January 15th. Finally, Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating and lifted their price objective for the company from $7.75 to $10.50 in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $6.57.

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.