Balyasny Asset Management L.P. Invests $365,000 in IAMGOLD Co. (NYSE:IAG)

Balyasny Asset Management L.P. purchased a new stake in shares of IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 70,660 shares of the mining company's stock, valued at approximately $365,000.

Other institutional investors also recently modified their holdings of the company. Tobam bought a new stake in IAMGOLD during the 4th quarter valued at $25,000. Blue Trust Inc. raised its stake in shares of IAMGOLD by 157.1% during the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company's stock valued at $47,000 after purchasing an additional 5,511 shares during the period. Raab & Moskowitz Asset Management LLC purchased a new stake in IAMGOLD during the 4th quarter worth about $56,000. Atria Wealth Solutions Inc. bought a new position in IAMGOLD in the 4th quarter worth about $68,000. Finally, Choreo LLC bought a new position in IAMGOLD in the 4th quarter worth about $88,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IAG. BMO Capital Markets began coverage on IAMGOLD in a research report on Wednesday, April 16th. They set an "outperform" rating on the stock. Raymond James reiterated a "market perform" rating and issued a $8.00 target price on shares of IAMGOLD in a research note on Friday, April 4th. CIBC upped their price target on shares of IAMGOLD from $8.40 to $9.20 and gave the stock an "outperformer" rating in a report on Thursday, May 8th. National Bank Financial upgraded IAMGOLD to a "strong-buy" rating in a research report on Friday, March 21st. Finally, StockNews.com cut IAMGOLD from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, IAMGOLD currently has a consensus rating of "Moderate Buy" and an average price target of $7.74.

IAMGOLD Price Performance

Shares of NYSE IAG traded up $0.22 during mid-day trading on Tuesday, reaching $6.62. 11,473,902 shares of the company were exchanged, compared to its average volume of 10,449,274. IAMGOLD Co. has a 52 week low of $3.44 and a 52 week high of $8.38. The company's 50 day moving average price is $6.63 and its 200 day moving average price is $5.97. The stock has a market capitalization of $3.81 billion, a PE ratio of 4.57 and a beta of 1.20. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last posted its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.10 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.10. The firm had revenue of $457.23 million during the quarter, compared to analysts' expectations of $578.70 million. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. Sell-side analysts forecast that IAMGOLD Co. will post 0.67 earnings per share for the current fiscal year.

IAMGOLD Profile

IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.