Allianz Asset Management GmbH Has $4.59 Million Stake in Iamgold Corporation $IAG

Allianz Asset Management GmbH decreased its position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 30.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 355,268 shares of the mining company’s stock after selling 153,604 shares during the quarter. Allianz Asset Management GmbH’s holdings in Iamgold were worth $4,591,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tsfg LLC bought a new position in shares of Iamgold in the third quarter valued at about $26,000. Arizona State Retirement System bought a new stake in shares of Iamgold during the third quarter worth approximately $132,000. Hollencrest Capital Management lifted its holdings in Iamgold by 17.5% in the third quarter. Hollencrest Capital Management now owns 60,298 shares of the mining company’s stock valued at $780,000 after buying an additional 9,000 shares during the period. Vanguard Personalized Indexing Management LLC boosted its stake in Iamgold by 4.3% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 38,499 shares of the mining company’s stock valued at $498,000 after acquiring an additional 1,598 shares during the last quarter. Finally, LBP AM SA acquired a new stake in Iamgold during the 3rd quarter worth $297,000. 47.08% of the stock is owned by institutional investors and hedge funds.

Iamgold Stock Up 1.6%

Iamgold stock opened at $21.63 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.68 and a quick ratio of 0.95. The company’s 50-day moving average is $17.66 and its 200-day moving average is $13.51. The firm has a market capitalization of $12.79 billion, a PE ratio of 36.05, a P/E/G ratio of 0.27 and a beta of 1.36. Iamgold Corporation has a fifty-two week low of $5.02 and a fifty-two week high of $22.43.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Wall Street Zen upgraded Iamgold from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Zacks Research downgraded shares of Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a report on Thursday, January 22nd. Scotiabank upped their target price on shares of Iamgold to $23.00 and gave the company a “sector perform” rating in a research note on Monday, January 26th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating on shares of Iamgold in a report on Wednesday, February 4th. Two analysts have rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Iamgold presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.25.

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.