Iamgold Corporation $IAG Shares Sold by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. decreased its position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 8.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 694,050 shares of the mining company’s stock after selling 65,138 shares during the period. Iamgold comprises approximately 1.4% of Triasima Portfolio Management inc.’s portfolio, making the stock its 19th biggest holding. Triasima Portfolio Management inc. owned 0.12% of Iamgold worth $8,969,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Mackenzie Financial Corp increased its holdings in Iamgold by 183.5% during the 2nd quarter. Mackenzie Financial Corp now owns 7,614,294 shares of the mining company’s stock valued at $56,118,000 after acquiring an additional 4,928,077 shares in the last quarter. Bornite Capital Management LP acquired a new stake in shares of Iamgold in the second quarter valued at approximately $34,089,000. Ninety One UK Ltd increased its stake in shares of Iamgold by 127.7% during the 2nd quarter. Ninety One UK Ltd now owns 5,347,405 shares of the mining company’s stock worth $39,303,000 after purchasing an additional 2,998,882 shares in the last quarter. Candriam S.C.A. acquired a new position in shares of Iamgold during the 2nd quarter worth approximately $18,354,000. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Iamgold by 12.4% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 20,917,319 shares of the mining company’s stock worth $154,046,000 after purchasing an additional 2,302,527 shares during the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on IAG. CIBC increased their target price on Iamgold from $10.40 to $19.00 and gave the company an “outperformer” rating in a report on Friday, October 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Iamgold in a research note on Wednesday, October 8th. Zacks Research raised Iamgold from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 22nd. Scotiabank lifted their price target on Iamgold from $8.50 to $15.00 and gave the company a “sector perform” rating in a report on Thursday, October 23rd. Finally, Stifel Canada upgraded shares of Iamgold from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $15.25.

Iamgold Stock Performance

Iamgold stock opened at $19.16 on Tuesday. The company has a market cap of $11.33 billion, a price-to-earnings ratio of 32.29, a price-to-earnings-growth ratio of 0.23 and a beta of 1.38. Iamgold Corporation has a 12 month low of $5.02 and a 12 month high of $18.61. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.68 and a quick ratio of 0.95. The stock’s 50-day moving average is $15.80 and its 200-day moving average is $12.06.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its earnings results on Tuesday, November 4th. The mining company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.09. Iamgold had a return on equity of 10.39% and a net margin of 15.39%.The business had revenue of $714.61 million during the quarter, compared to analysts’ expectations of $759.45 million. Equities analysts anticipate that Iamgold Corporation will post 0.67 earnings per share for the current year.

Iamgold Profile

IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.

The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.