Mackenzie Financial Corp Purchases 338,297 Shares of IAMGOLD Co. (NYSE:IAG)

Mackenzie Financial Corp grew its stake in shares of IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 7.1% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 5,123,756 shares of the mining company's stock after purchasing an additional 338,297 shares during the period. Mackenzie Financial Corp owned about 0.90% of IAMGOLD worth $26,456,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in IAG. Donald Smith & CO. Inc. boosted its position in shares of IAMGOLD by 0.7% during the fourth quarter. Donald Smith & CO. Inc. now owns 31,233,874 shares of the mining company's stock valued at $161,167,000 after buying an additional 216,751 shares during the last quarter. RCF Management L.L.C. purchased a new position in IAMGOLD during the 4th quarter worth $128,174,000. Vanguard Group Inc. grew its stake in shares of IAMGOLD by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 21,232,871 shares of the mining company's stock worth $109,741,000 after acquiring an additional 321,458 shares in the last quarter. Millennium Management LLC raised 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 during the last quarter. Finally, American Century Companies Inc. raised its holdings 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 purchasing an additional 2,092,803 shares during the last quarter. 47.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

IAG has been the subject of a number of recent analyst reports. Wall Street Zen downgraded shares of IAMGOLD from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Raymond James restated a "market perform" rating and set a $8.00 price target on shares of IAMGOLD in a research report on Friday, April 4th. BMO Capital Markets initiated coverage on shares of IAMGOLD in a research report on Wednesday, April 16th. They issued an "outperform" rating on the stock. CIBC boosted their target price on shares of IAMGOLD from $8.40 to $9.20 and gave the company an "outperformer" rating in a research note on Thursday, May 8th. Finally, National Bank Financial upgraded shares of IAMGOLD to a "strong-buy" rating in a research note on Friday, March 21st. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $7.74.

IAMGOLD Stock Performance

Shares of IAMGOLD stock traded down $0.20 during trading hours on Wednesday, reaching $6.85. The company had a trading volume of 16,248,346 shares, compared to its average volume of 10,571,565. The firm has a market cap of $3.94 billion, a PE ratio of 4.72 and a beta of 1.20. IAMGOLD Co. has a one year low of $3.44 and a one year high of $8.38. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. The business has a fifty day simple moving average of $6.71 and a 200 day simple moving average of $6.03.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last issued 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 business had revenue of $457.23 million for 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%. On average, analysts anticipate that IAMGOLD Co. will post 0.67 earnings per share for the current fiscal 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.