IAMGOLD Co. (NYSE:IAG) Position Trimmed by Man Group plc

Man Group plc decreased its holdings in IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 81.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 32,533 shares of the mining company's stock after selling 143,267 shares during the quarter. Man Group plc's holdings in IAMGOLD were worth $168,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Nuveen Asset Management LLC boosted its position in shares of IAMGOLD by 3.3% during the 4th quarter. Nuveen Asset Management LLC now owns 2,742,119 shares of the mining company's stock worth $14,166,000 after acquiring an additional 87,743 shares in the last quarter. Numerai GP LLC acquired a new position in IAMGOLD in the 4th quarter valued at $648,000. Mudita Advisors LLP increased its stake in shares of IAMGOLD by 83.6% during the fourth quarter. Mudita Advisors LLP now owns 1,474,605 shares of the mining company's stock worth $7,615,000 after acquiring an additional 671,405 shares during the period. Millennium Management LLC raised its stake in shares of IAMGOLD by 88.4% during the 4th quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company's stock worth $53,307,000 after buying an additional 4,846,254 shares in the last quarter. Finally, Gotham Asset Management LLC raised its position in IAMGOLD by 89.4% in the fourth quarter. Gotham Asset Management LLC now owns 43,262 shares of the mining company's stock worth $223,000 after acquiring an additional 20,424 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on IAG shares. BMO Capital Markets started coverage on shares of IAMGOLD in a research report on Wednesday, April 16th. They set an "outperform" rating for the company. Raymond James reaffirmed a "market perform" rating and set a $8.00 price target on shares of IAMGOLD in a research note on Friday, April 4th. CIBC upped their target price on IAMGOLD from $8.40 to $9.20 and gave the company an "outperformer" rating in a research note on Thursday, May 8th. Scotiabank increased their price target 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. Finally, National Bank Financial raised IAMGOLD to a "strong-buy" rating in a research note on Friday, March 21st. Four research analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $7.74.

IAMGOLD Stock Up 1.2%

Shares of IAG traded up $0.08 during midday trading on Friday, hitting $6.86. The company had a trading volume of 15,454,588 shares, compared to its average volume of 10,609,950. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The stock has a market cap of $3.94 billion, a price-to-earnings ratio of 4.73 and a beta of 1.20. IAMGOLD Co. has a 52 week low of $3.44 and a 52 week high of $8.38. The company's 50 day moving average price is $6.75 and its 200 day moving average price is $6.04.

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

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.