Entropy Technologies LP Cuts Stake in Iamgold Corporation $IAG

Entropy Technologies LP lessened its position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 18.2% in the 1st quarter, Holdings Channel reports. The fund owned 212,251 shares of the mining company’s stock after selling 47,202 shares during the period. Entropy Technologies LP’s holdings in Iamgold were worth $3,995,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Pin Oak Investment Advisors Inc. acquired a new position in shares of Iamgold during the fourth quarter worth about $30,000. Global Retirement Partners LLC purchased a new position in Iamgold during the fourth quarter worth about $33,000. FNY Investment Advisers LLC acquired a new stake in Iamgold in the fourth quarter valued at about $38,000. LOM Asset Management Ltd acquired a new stake in Iamgold in the fourth quarter valued at about $49,000. Finally, Banque Cantonale Vaudoise boosted its holdings in Iamgold by 617.8% in the 4th quarter. Banque Cantonale Vaudoise now owns 2,986 shares of the mining company’s stock valued at $49,000 after purchasing an additional 2,570 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Analyst Ratings Changes

IAG has been the topic of several recent analyst reports. Zacks Research cut Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 30th. Royal Bank Of Canada dropped their price objective on Iamgold from $22.00 to $20.00 and set an “outperform” rating on the stock in a report on Thursday, July 9th. Weiss Ratings cut Iamgold from a “buy (b)” rating to a “buy (b-)” rating in a research report on Tuesday, June 9th. Scotiabank reduced their target price on Iamgold from $25.00 to $22.00 and set a “sector perform” rating for the company in a report on Tuesday, July 14th. Finally, Bank of America decreased their target price on shares of Iamgold from $22.50 to $21.00 and set a “buy” rating on the stock in a research report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $19.00.

Iamgold Price Performance

Iamgold stock opened at $14.64 on Friday. The firm has a market capitalization of $8.41 billion, a PE ratio of 8.51, a P/E/G ratio of 0.65 and a beta of 1.30. Iamgold Corporation has a 52 week low of $6.69 and a 52 week high of $24.87. The firm’s 50-day simple moving average is $16.08 and its 200 day simple moving average is $18.24. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.12.

Iamgold (NYSE:IAG) (TSE:IMG) last posted its earnings results on Tuesday, May 5th. The mining company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.14. Iamgold had a net margin of 29.49% and a return on equity of 26.65%. The firm had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $955.17 million. On average, equities research analysts predict that Iamgold Corporation will post 1.98 EPS for the current fiscal 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.