Toronto Dominion Bank Increases Stake in IAMGOLD Co. (NYSE:IAG)

Toronto Dominion Bank boosted its position in shares of IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 28.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 352,827 shares of the mining company's stock after acquiring an additional 78,450 shares during the period. Toronto Dominion Bank owned 0.06% of IAMGOLD worth $1,821,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. RCF Management L.L.C. purchased a new stake in shares of IAMGOLD in the fourth quarter worth about $128,174,000. Millennium Management LLC grew its holdings 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 purchasing an additional 4,846,254 shares in the last quarter. Invesco Ltd. increased its position in IAMGOLD by 41.6% in the fourth quarter. Invesco Ltd. now owns 7,139,935 shares of the mining company's stock worth $36,842,000 after purchasing an additional 2,098,215 shares during the last quarter. American Century Companies Inc. raised its stake 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. Finally, Cibc World Market Inc. lifted its position 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 during the last quarter. 47.08% of the stock is currently owned by institutional investors.

IAMGOLD Stock Up 4.9%

Shares of IAG stock traded up $0.33 during trading hours on Tuesday, reaching $7.06. 25,148,474 shares of the company's stock were exchanged, compared to its average volume of 10,544,297. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The company has a market cap of $4.06 billion, a price-to-earnings ratio of 4.87 and a beta of 1.20. The stock's 50 day moving average is $6.70 and its 200-day moving average is $6.02. IAMGOLD Co. has a fifty-two week low of $3.44 and a fifty-two week high of $8.38.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last released 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 during the quarter, compared to analyst estimates of $578.70 million. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. Analysts predict that IAMGOLD Co. will post 0.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on IAG. CIBC upped their target price on shares of IAMGOLD from $8.40 to $9.20 and gave the company an "outperformer" rating in a research report on Thursday, May 8th. BMO Capital Markets initiated coverage on IAMGOLD in a research report on Wednesday, April 16th. They set an "outperform" rating on the stock. Scotiabank lifted their target price on IAMGOLD from $7.50 to $7.75 and gave the stock a "sector perform" rating in a report on Monday, May 12th. National Bank Financial upgraded IAMGOLD to a "strong-buy" rating in a report on Friday, March 21st. Finally, Wall Street Zen lowered shares of IAMGOLD from a "buy" rating to a "hold" rating in a research note 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. According to data from MarketBeat, IAMGOLD has an average rating of "Moderate Buy" and an average price target of $7.74.

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.