Euro Pacific Asset Management LLC Has $10.08 Million Position in IAMGOLD Co. (NYSE:IAG)

Euro Pacific Asset Management LLC reduced its holdings in IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 22.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,924,836 shares of the mining company's stock after selling 570,323 shares during the quarter. IAMGOLD accounts for about 1.8% of Euro Pacific Asset Management LLC's investment portfolio, making the stock its 25th largest holding. Euro Pacific Asset Management LLC owned about 0.34% of IAMGOLD worth $10,075,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of IAG. Vanguard Group Inc. grew its holdings in shares of IAMGOLD by 1.0% during the first quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company's stock worth $58,871,000 after buying an additional 168,302 shares in the last quarter. Donald Smith & CO. Inc. grew its stake in IAMGOLD by 0.8% in the first quarter. Donald Smith & CO. Inc. now owns 36,077,268 shares of the mining company's stock valued at $120,137,000 after purchasing an additional 298,959 shares in the last quarter. Linscomb Wealth Inc. bought a new position in IAMGOLD in the first quarter valued at approximately $67,000. Virtu Financial LLC grew its stake in IAMGOLD by 1,034.3% in the first quarter. Virtu Financial LLC now owns 339,792 shares of the mining company's stock valued at $1,132,000 after purchasing an additional 309,836 shares in the last quarter. Finally, Cetera Advisors LLC bought a new position in IAMGOLD in the first quarter valued at approximately $50,000. 47.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

IAG has been the subject of a number of analyst reports. Canaccord Genuity Group upgraded IAMGOLD from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. CIBC raised their price target on IAMGOLD from $5.40 to $6.40 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. Royal Bank of Canada restated a "sector perform" rating and issued a $6.00 price target on shares of IAMGOLD in a research note on Tuesday, October 22nd. StockNews.com raised IAMGOLD from a "hold" rating to a "buy" rating in a research report on Monday, November 11th. Finally, National Bank Financial raised IAMGOLD from a "sector perform" rating to an "outperform" rating in a research report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $6.68.

IAMGOLD Stock Performance

NYSE:IAG traded down $0.04 during mid-day trading on Friday, hitting $4.94. 4,945,506 shares of the stock were exchanged, compared to its average volume of 9,061,967. The stock has a market capitalization of $2.82 billion, a price-to-earnings ratio of 3.86 and a beta of 1.57. The firm's 50-day simple moving average is $5.29 and its 200 day simple moving average is $4.55. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. IAMGOLD Co. has a fifty-two week low of $2.11 and a fifty-two week high of $6.37.

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.