Alps Advisors Inc. Increases Stock Position in Iamgold Corporation $IAG

Alps Advisors Inc. raised its position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 54.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 354,192 shares of the mining company’s stock after buying an additional 125,600 shares during the period. Alps Advisors Inc.’s holdings in Iamgold were worth $4,580,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Banque Transatlantique SA acquired a new stake in shares of Iamgold during the 2nd quarter valued at about $26,000. Tsfg LLC acquired a new stake in Iamgold in the third quarter valued at approximately $26,000. Tableaux LLC purchased a new stake in shares of Iamgold in the second quarter valued at approximately $61,000. Olympiad Research LP purchased a new stake in shares of Iamgold in the second quarter valued at approximately $87,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Iamgold during the 2nd quarter worth approximately $90,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Zacks Research lowered shares of Iamgold from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 20th. Wall Street Zen raised shares of Iamgold from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Canadian Imperial Bank of Commerce restated an “outperform” rating on shares of Iamgold in a research report on Wednesday, February 4th. Scotiabank lifted their price objective on Iamgold to $23.00 and gave the stock a “sector perform” rating in a report on Monday, January 26th. Finally, Stifel Nicolaus raised Iamgold from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Two equities research analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $17.25.

Iamgold Stock Up 11.4%

Shares of NYSE IAG opened at $21.30 on Tuesday. The stock has a market cap of $12.59 billion, a PE ratio of 35.50, a P/E/G ratio of 0.25 and a beta of 1.36. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.27. Iamgold Corporation has a 12-month low of $5.02 and a 12-month high of $22.43. The company has a 50-day moving average of $17.53 and a 200 day moving average of $13.41.

Iamgold Company 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.