Euro Pacific Asset Management LLC Sells 570,323 Shares of IAMGOLD Co. (NYSE:IAG)

Euro Pacific Asset Management LLC lessened its holdings in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 22.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,924,836 shares of the mining company’s stock after selling 570,323 shares during the period. IAMGOLD comprises 1.8% of Euro Pacific Asset Management LLC’s holdings, making the stock its 25th largest holding. Euro Pacific Asset Management LLC owned 0.34% of IAMGOLD worth $10,075,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. ORG Partners LLC bought a new position in IAMGOLD during the 3rd quarter worth $29,000. Eastern Bank bought a new position in shares of IAMGOLD in the third quarter worth $30,000. TIAA Trust National Association bought a new position in shares of IAMGOLD in the second quarter worth $38,000. Cetera Advisors LLC acquired a new position in IAMGOLD in the first quarter valued at about $50,000. Finally, WINTON GROUP Ltd bought a new stake in IAMGOLD during the second quarter worth about $52,000. 47.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on IAG shares. CIBC raised their target price on shares of IAMGOLD from $5.40 to $6.40 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. StockNews.com raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and boosted their price objective for the company from $7.75 to $10.50 in a research report on Tuesday, October 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $6.00 target price on shares of IAMGOLD in a report on Tuesday, October 22nd. Finally, Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $6.68.

IAMGOLD Stock Performance

Shares of IAMGOLD stock opened at $4.94 on Friday. The company’s 50 day moving average price is $5.29 and its two-hundred day moving average price is $4.54. The firm has a market capitalization of $2.82 billion, a P/E ratio of 3.86 and a beta of 1.57. 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 Co. has a fifty-two week low of $2.11 and a fifty-two week high of $6.37.

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.