Jupiter Asset Management Cuts Stake in Iamgold Corporation by 13.3%

Jupiter Asset Management Ltd. has reduced its holdings in Iamgold Corporation (NYSE:IAG, TSE:IMG) by **13.3%** during the second quarter of the year. According to Holdings Channel.com, the institutional investor now owns **152,423 shares** after selling **23,394 shares** during this period. As of its latest filing with the Securities and Exchange Commission (SEC), Jupiter’s stake in Iamgold was valued at approximately **$1,120,000**.

Other institutional investors have also made adjustments to their positions in Iamgold. Notably, Parallel Advisors LLC increased its stake by an impressive **272.9%**, now holding **3,584 shares** valued at **$26,000** after acquiring an additional **2,623 shares**. Similarly, Summit Securities Group LLC purchased a new stake valued at about **$35,000** in the first quarter, while Campbell & CO Investment Adviser LLC and Atria Wealth Solutions Inc. acquired stakes worth approximately **$90,000** and **$92,000**, respectively, during the second quarter. Savant Capital LLC also joined the ranks of investors in Iamgold with a new position worth around **$100,000**.

As it stands, institutional investors control **47.08%** of Iamgold’s stock, reflecting a strong interest in the mining company.

Market Performance and Analyst Ratings

On the trading front, shares of Iamgold opened at **$13.74** on Friday, reflecting a **0.3%** decrease. The company maintains a debt-to-equity ratio of **0.31**, a current ratio of **1.47**, and a quick ratio of **0.76**. Over the past year, Iamgold’s stock has fluctuated significantly, with a low of **$4.93** and a high of **$14.68**. Currently, the company’s **fifty-day** moving average is **$12.34**, while its **200-day** moving average is **$9.14**. Iamgold boasts a market capitalization of **$7.91 billion**, a price-to-earnings ratio of **9.89**, a PEG ratio of **0.39**, and a beta of **1.22**.

Several brokerages have recently updated their price targets for Iamgold. CIBC raised its target from **$10.40** to **$19.00**, assigning the company an “outperformer” rating. Wall Street Zen upgraded Iamgold from a “hold” to a “buy” rating, while Scotiabank increased its price objective from **$8.50** to **$15.00**, maintaining a “sector perform” rating. Stifel Canada also elevated Iamgold’s rating from “hold” to “strong-buy.”

Currently, three equity research analysts have rated Iamgold with a “Strong Buy,” five have given it a “Buy,” and three have issued a “Hold” rating. Data from MarketBeat.com indicates that Iamgold has an average rating of “Buy” with a consensus price target of **$15.25**.

About Iamgold Corporation

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer primarily in Canada and Burkina Faso. It holds a **100%** interest in the Westwood project located in Quebec, covering an area of **1,925 hectares**. Additionally, the company owns a **60%** interest in the Côte gold project in Ontario, which spans **596 square kilometers**, and a **90%** interest in the Essakane project in Burkina Faso, covering **274,000 square kilometers**.

As Iamgold continues to navigate the market, investors and analysts alike will be closely watching its performance and strategic decisions in the coming quarters.