Euro Pacific Asset Management LLC Increases Holdings in IAMGOLD Co. (NYSE:IAG)

Euro Pacific Asset Management LLC increased its stake in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 48.1% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 2,727,065 shares of the mining company’s stock after buying an additional 885,697 shares during the quarter. IAMGOLD accounts for approximately 1.5% of Euro Pacific Asset Management LLC’s portfolio, making the stock its 29th largest holding. Euro Pacific Asset Management LLC’s holdings in IAMGOLD were worth $6,898,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Van ECK Associates Corp boosted its stake in IAMGOLD by 4.0% in the third quarter. Van ECK Associates Corp now owns 46,749,294 shares of the mining company’s stock valued at $100,513,000 after acquiring an additional 1,779,306 shares during the last quarter. Vanguard Group Inc. grew its stake in IAMGOLD by 2.1% in the 3rd quarter. Vanguard Group Inc. now owns 17,375,017 shares of the mining company’s stock valued at $37,356,000 after buying an additional 363,051 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of IAMGOLD by 0.7% during the 1st quarter. Renaissance Technologies LLC now owns 17,085,400 shares of the mining company’s stock valued at $46,308,000 after purchasing an additional 124,300 shares during the period. Two Sigma Investments LP boosted its position in shares of IAMGOLD by 492.0% in the first quarter. Two Sigma Investments LP now owns 7,284,801 shares of the mining company’s stock valued at $19,742,000 after acquiring an additional 6,054,262 shares during the period. Finally, Two Sigma Advisers LP raised its position in shares of IAMGOLD by 269.0% in the first quarter. Two Sigma Advisers LP now owns 5,687,600 shares of the mining company’s stock worth $15,413,000 after buying an additional 4,146,200 shares in the last quarter. Institutional investors own 47.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. CIBC upped their target price on shares of IAMGOLD from $3.00 to $3.10 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. Scotiabank raised their price objective on IAMGOLD from $3.25 to $3.75 and gave the company a “sector perform” rating in a report on Thursday. BMO Capital Markets upped their target price on IAMGOLD from $4.00 to $4.25 and gave the stock an “outperform” rating in a research note on Friday, April 5th. National Bank Financial reissued a “sector perform spec overwgt” rating on shares of IAMGOLD in a research note on Monday, April 8th. Finally, StockNews.com cut shares of IAMGOLD from a “hold” rating to a “sell” rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $3.55.

IAMGOLD Trading Up 0.5 %

Shares of IAG stock traded up $0.02 during mid-day trading on Thursday, reaching $3.68. The stock had a trading volume of 6,978,274 shares, compared to its average volume of 8,931,602. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 0.36. The stock’s 50-day moving average price is $3.05 and its two-hundred day moving average price is $2.64. The firm has a market capitalization of $1.83 billion, a PE ratio of 19.21, a price-to-earnings-growth ratio of 1.22 and a beta of 1.70. IAMGOLD Co. has a 52-week low of $1.99 and a 52-week high of $3.92.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Thursday, February 15th. The mining company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The business had revenue of $297.60 million during the quarter. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. Equities analysts expect that IAMGOLD Co. will post 0.07 earnings per share 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.