Triasima Portfolio Management inc. Has $5.58 Million Stock Position in Iamgold Corporation $IAG

Triasima Portfolio Management inc. grew its position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 189.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 759,188 shares of the mining company’s stock after buying an additional 496,686 shares during the period. Triasima Portfolio Management inc.’s holdings in Iamgold were worth $5,581,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Euro Pacific Asset Management LLC increased its stake in shares of Iamgold by 8.7% in the 2nd quarter. Euro Pacific Asset Management LLC now owns 1,245,480 shares of the mining company’s stock valued at $9,154,000 after buying an additional 100,117 shares during the period. Ninety One UK Ltd increased its stake in shares of Iamgold by 127.7% in the 2nd quarter. Ninety One UK Ltd now owns 5,347,405 shares of the mining company’s stock valued at $39,303,000 after buying an additional 2,998,882 shares during the period. Ruffer LLP acquired a new stake in shares of Iamgold in the 2nd quarter valued at $1,899,000. Public Employees Retirement System of Ohio increased its stake in shares of Iamgold by 9.8% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 219,149 shares of the mining company’s stock valued at $1,611,000 after buying an additional 19,588 shares during the period. Finally, Parallel Advisors LLC increased its stake in shares of Iamgold by 272.9% in the 2nd quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company’s stock valued at $26,000 after buying an additional 2,623 shares during the period. 47.08% of the stock is owned by institutional investors and hedge funds.

Iamgold Stock Down 5.0%

NYSE:IAG opened at $13.04 on Wednesday. Iamgold Corporation has a 1 year low of $4.44 and a 1 year high of $13.99. The company has a current ratio of 1.47, a quick ratio of 0.76 and a debt-to-equity ratio of 0.31. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of 9.38, a PEG ratio of 0.47 and a beta of 1.24. The stock has a 50-day moving average price of $9.88 and a two-hundred day moving average price of $7.98.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its earnings results on Thursday, August 7th. The mining company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.14 by ($0.01). Iamgold had a net margin of 40.61% and a return on equity of 8.54%. The business had revenue of $587.21 million during the quarter, compared to analyst estimates of $663.21 million. As a group, equities analysts expect that Iamgold Corporation will post 0.67 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on IAG. Zacks Research cut Iamgold from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 15th. CIBC reiterated an “outperform” rating on shares of Iamgold in a report on Tuesday, July 15th. Royal Bank Of Canada upgraded Iamgold from a “sector perform” rating to an “outperform” rating and upped their price objective for the company from $9.00 to $14.00 in a report on Wednesday, September 10th. National Bankshares reiterated an “outperform” rating on shares of Iamgold in a report on Tuesday, June 24th. Finally, Raymond James Financial upgraded Iamgold to a “hold” rating and set a $8.00 price objective for the company in a report on Monday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Iamgold currently has an average rating of “Moderate Buy” and an average target price of $10.13.

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.