Nuveen Asset Management LLC Raises Stake in IAMGOLD Co. (NYSE:IAG)

Nuveen Asset Management LLC raised its holdings in shares of IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,742,119 shares of the mining company's stock after purchasing an additional 87,743 shares during the period. Nuveen Asset Management LLC owned 0.48% of IAMGOLD worth $14,166,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. RCF Management L.L.C. purchased a new position in IAMGOLD during the 4th quarter worth $128,174,000. Millennium Management LLC grew its stake in shares of IAMGOLD by 88.4% during the fourth quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company's stock worth $53,307,000 after acquiring an additional 4,846,254 shares during the last quarter. Invesco Ltd. raised its position in shares of IAMGOLD by 41.6% in the 4th 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 during the last quarter. American Century Companies Inc. raised its position in shares of IAMGOLD by 25.9% in the 4th 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 during the last quarter. Finally, Cibc World Market Inc. boosted its stake in IAMGOLD by 54.0% in the 4th quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company's stock worth $26,452,000 after purchasing an additional 1,795,869 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on IAG shares. Scotiabank lifted their price objective on shares of IAMGOLD from $7.50 to $7.75 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. National Bank Financial raised IAMGOLD to a "strong-buy" rating in a research report on Friday, March 21st. Raymond James reiterated a "market perform" rating and set a $8.00 price target on shares of IAMGOLD in a research note on Friday, April 4th. Wall Street Zen cut IAMGOLD from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Finally, BMO Capital Markets assumed coverage on shares of IAMGOLD in a report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Four research 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. According to data from MarketBeat, IAMGOLD has an average rating of "Moderate Buy" and a consensus target price of $7.74.

IAMGOLD Stock Performance

IAMGOLD stock traded down $0.02 during mid-day trading on Friday, hitting $6.77. The company had a trading volume of 3,865,065 shares, compared to its average volume of 13,619,856. The company has a market capitalization of $3.89 billion, a price-to-earnings ratio of 4.67 and a beta of 1.20. IAMGOLD Co. has a 12-month low of $3.44 and a 12-month high of $8.38. The company's fifty day moving average is $6.75 and its 200-day moving average is $6.04. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last released its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. The company had revenue of $457.23 million for the quarter, compared to analyst estimates of $578.70 million. Equities research analysts predict that IAMGOLD Co. will post 0.67 EPS for the current year.

IAMGOLD Company 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.