D. E. Shaw & Co. Inc. Lowers Position in IAMGOLD Co. (NYSE:IAG)

D. E. Shaw & Co. Inc. decreased its holdings in IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 28.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,286,046 shares of the mining company's stock after selling 2,089,613 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.93% of IAMGOLD worth $27,284,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in IAG. RCF Management L.L.C. purchased a new position in shares of IAMGOLD in the fourth quarter worth approximately $128,174,000. Invesco Ltd. lifted its holdings in IAMGOLD by 41.6% during the fourth quarter. Invesco Ltd. now owns 7,139,935 shares of the mining company's stock valued at $36,842,000 after purchasing an additional 2,098,215 shares in the last quarter. American Century Companies Inc. lifted its holdings in IAMGOLD by 25.9% during the fourth quarter. American Century Companies Inc. now owns 10,162,314 shares of the mining company's stock valued at $52,499,000 after purchasing an additional 2,092,803 shares in the last quarter. Cibc World Market Inc. lifted its holdings in IAMGOLD by 54.0% during the fourth quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company's stock valued at $26,452,000 after purchasing an additional 1,795,869 shares in the last quarter. Finally, Intact Investment Management Inc. lifted its holdings in IAMGOLD by 158.4% during the fourth quarter. Intact Investment Management Inc. now owns 2,733,450 shares of the mining company's stock valued at $14,127,000 after purchasing an additional 1,675,440 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company's stock.

IAMGOLD Trading Up 2.5%

IAG stock traded up $0.15 during mid-day trading on Thursday, reaching $6.27. 13,712,651 shares of the stock traded hands, compared to its average volume of 10,434,868. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. IAMGOLD Co. has a one year low of $3.44 and a one year high of $8.38. The stock has a market capitalization of $3.61 billion, a PE ratio of 4.32 and a beta of 1.20. The business has a 50-day moving average price of $6.58 and a two-hundred day moving average price of $5.95.

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 for the quarter, meeting analysts' consensus estimates of $0.10. The business had revenue of $457.23 million for the quarter, compared to analysts' expectations of $578.70 million. IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. Equities research analysts expect that IAMGOLD Co. will post 0.67 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on IAG. Scotiabank lifted their price target on shares of IAMGOLD from $7.50 to $7.75 and gave the company a "sector perform" rating in a report on Monday. BMO Capital Markets began coverage on shares of IAMGOLD in a report on Wednesday, April 16th. They set an "outperform" rating on the stock. National Bank Financial raised shares of IAMGOLD to a "strong-buy" rating in a report on Friday, March 21st. Raymond James restated a "market perform" rating and issued a $8.00 price target on shares of IAMGOLD in a research report on Friday, April 4th. Finally, CIBC boosted their price target on shares of IAMGOLD from $8.40 to $9.20 and gave the stock an "outperformer" rating in a research report on Thursday, May 8th. Four analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $7.74.

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.