PKO Investment Management Joint Stock Co acquired a new stake in shares of IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 240,000 shares of the mining company's stock, valued at approximately $1,241,000.
A number of other hedge funds have also modified their holdings of IAG. RCF Management L.L.C. acquired a new stake in shares of IAMGOLD in the fourth quarter valued at about $128,174,000. Millennium Management LLC raised its position in shares of IAMGOLD by 88.4% in the fourth quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company's stock valued at $53,307,000 after buying an additional 4,846,254 shares during the last quarter. Invesco Ltd. raised its position in shares of IAMGOLD by 41.6% in the fourth quarter. Invesco Ltd. now owns 7,139,935 shares of the mining company's stock valued at $36,842,000 after buying an additional 2,098,215 shares during the last quarter. American Century Companies Inc. raised its position in shares of IAMGOLD by 25.9% in 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 buying an additional 2,092,803 shares during the last quarter. Finally, Cibc World Market Inc. raised its position in shares of IAMGOLD by 54.0% in 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 buying an additional 1,795,869 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have recently commented on IAG. BMO Capital Markets began coverage on shares of IAMGOLD in a research report on Wednesday, April 16th. They issued an "outperform" rating for the company. Wall Street Zen cut shares of IAMGOLD from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Scotiabank raised their price objective on shares of IAMGOLD from $7.50 to $7.75 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. Raymond James restated a "market perform" rating and set a $8.00 price objective on shares of IAMGOLD in a research report on Friday, April 4th. Finally, CIBC raised their price objective 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 investment analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, IAMGOLD has an average rating of "Moderate Buy" and an average target price of $7.74.
View Our Latest Stock Report on IAG
IAMGOLD Trading Up 1.2%
Shares of IAG traded up $0.08 during trading on Friday, reaching $6.86. 15,454,588 shares of the company traded hands, compared to its average volume of 10,605,585. IAMGOLD Co. has a twelve month low of $3.44 and a twelve month high of $8.38. The stock has a market cap of $3.94 billion, a PE ratio of 4.73 and a beta of 1.20. The stock has a 50-day simple moving average of $6.76 and a 200-day simple moving average of $6.07. 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 announced its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.10 earnings per share for the quarter, meeting analysts' consensus estimates of $0.10. IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. The business had revenue of $457.23 million during the quarter, compared to analysts' expectations of $578.70 million. On average, analysts anticipate that IAMGOLD Co. will post 0.67 earnings per share for the current year.
About IAMGOLD
(
Free Report)
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.
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