Triasima Portfolio Management inc. Sells 73,113 Shares of Iamgold Corporation $IAG

Triasima Portfolio Management inc. lowered its position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 10.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 620,937 shares of the mining company’s stock after selling 73,113 shares during the quarter. Iamgold comprises 1.5% of Triasima Portfolio Management inc.’s portfolio, making the stock its 20th biggest position. Triasima Portfolio Management inc.’s holdings in Iamgold were worth $10,260,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Tsfg LLC bought a new position in shares of Iamgold in the third quarter valued at approximately $26,000. FNY Investment Advisers LLC bought a new position in shares of Iamgold in the fourth quarter valued at approximately $38,000. LOM Asset Management Ltd bought a new position in shares of Iamgold in the fourth quarter valued at approximately $49,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Iamgold in the fourth quarter valued at approximately $57,000. Finally, Aventura Private Wealth LLC bought a new position in shares of Iamgold in the fourth quarter valued at approximately $58,000. Institutional investors own 47.08% of the company’s stock.

Iamgold Price Performance

IAG opened at $16.58 on Monday. The company has a fifty day moving average price of $19.58 and a two-hundred day moving average price of $17.42. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.02 and a current ratio of 1.75. Iamgold Corporation has a 52 week low of $6.06 and a 52 week high of $24.87. The firm has a market capitalization of $9.62 billion, a PE ratio of 14.42, a P/E/G ratio of 0.85 and a beta of 1.26.

Iamgold (NYSE:IAG) (TSE:IMG) last released its earnings results on Tuesday, February 17th. The mining company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.15. Iamgold had a net margin of 23.29% and a return on equity of 19.26%. The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. As a group, analysts anticipate that Iamgold Corporation will post 2.18 earnings per share for the current year.

Insider Buying and Selling

In other Iamgold news, Director David Stewart Smith sold 31,000 shares of Iamgold stock in a transaction on Friday, February 27th. The shares were sold at an average price of $32.87, for a total transaction of $1,018,970.00. Following the completion of the sale, the director owned 20,000 shares of the company’s stock, valued at approximately $657,400. The trade was a 60.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Iamgold in a research report on Wednesday, February 4th. Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a research report on Tuesday, April 21st. TD Securities restated a “buy” rating on shares of Iamgold in a research report on Thursday, February 19th. Wall Street Zen upgraded shares of Iamgold from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 21st. Finally, Scotiabank boosted their price objective on shares of Iamgold to $25.00 and gave the stock a “sector perform” rating in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Iamgold currently has a consensus rating of “Moderate Buy” and an average target price of $17.75.

About Iamgold

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.