Bastion Asset Management Inc. Decreases Position in Iamgold Corporation $IAG

Bastion Asset Management Inc. trimmed its position in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 51.1% in the third quarter, Holdings Channel.com reports. The firm owned 730,666 shares of the mining company’s stock after selling 762,442 shares during the period. Iamgold comprises approximately 5.4% of Bastion Asset Management Inc.’s portfolio, making the stock its 4th largest holding. Bastion Asset Management Inc.’s holdings in Iamgold were worth $9,448,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Tsfg LLC bought a new position in shares of Iamgold in the 3rd quarter valued at about $26,000. Banque Transatlantique SA bought a new position in Iamgold in the second quarter valued at approximately $26,000. Tableaux LLC bought a new position in Iamgold in the second quarter valued at approximately $61,000. Arizona State Retirement System acquired a new stake in Iamgold during the 3rd quarter worth $132,000. Finally, Olympiad Research LP bought a new stake in shares of Iamgold during the 2nd quarter valued at $87,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Iamgold Stock Up 7.6%

Shares of Iamgold stock opened at $21.69 on Monday. The company has a market capitalization of $12.82 billion, a P/E ratio of 36.15, a price-to-earnings-growth ratio of 0.27 and a beta of 1.36. 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 business has a 50-day moving average of $18.04 and a two-hundred day moving average of $13.82. Iamgold Corporation has a 1 year low of $5.02 and a 1 year high of $22.50.

Wall Street Analysts Forecast Growth

IAG has been the subject of a number of analyst reports. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating on shares of Iamgold in a research note on Wednesday, February 4th. Weiss Ratings restated a “buy (b)” rating on shares of Iamgold in a report on Thursday, January 22nd. Zacks Research lowered Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 20th. Stifel Nicolaus upgraded shares of Iamgold from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 20th. Finally, Scotiabank lifted their price objective on shares of Iamgold to $23.00 and gave the stock a “sector perform” rating in a research note on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $17.25.

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.