Man Group plc Decreases Stake in IAMGOLD Co. (NYSE:IAG)

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

A number of other hedge funds have also recently made changes to their positions in the stock. Nuveen Asset Management LLC grew its holdings in shares of IAMGOLD by 3.3% in the fourth quarter. Nuveen Asset Management LLC now owns 2,742,119 shares of the mining company's stock worth $14,166,000 after purchasing an additional 87,743 shares during the last quarter. Numerai GP LLC bought a new position in shares of IAMGOLD in the fourth quarter worth about $648,000. Mudita Advisors LLP grew its holdings in shares of IAMGOLD by 83.6% in the fourth quarter. Mudita Advisors LLP now owns 1,474,605 shares of the mining company's stock worth $7,615,000 after purchasing an additional 671,405 shares during the last quarter. 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 worth $53,307,000 after purchasing an additional 4,846,254 shares during the last quarter. Finally, Gotham Asset Management LLC grew its holdings in shares of 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 purchasing an additional 20,424 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on IAG shares. Scotiabank upped their price target on shares of IAMGOLD from $7.50 to $7.75 and gave the stock a "sector perform" rating in a report on Monday, May 12th. CIBC upped their price objective on shares of IAMGOLD from $8.40 to $9.20 and gave the stock an "outperformer" rating in a research note on Thursday, May 8th. Wall Street Zen lowered shares of IAMGOLD from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. National Bank Financial raised shares of IAMGOLD to a "strong-buy" rating in a research note on Friday, March 21st. Finally, Raymond James reaffirmed a "market perform" rating and issued a $8.00 price objective on shares of IAMGOLD in a research note on Friday, April 4th. Four 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, the company has a consensus rating of "Moderate Buy" and a consensus target price of $7.74.

IAMGOLD Stock Up 9.0%

Shares of IAG stock traded up $0.62 during mid-day trading on Monday, hitting $7.48. 24,777,393 shares of the stock traded hands, compared to its average volume of 10,662,456. The stock has a market cap of $4.30 billion, a P/E ratio of 5.16 and a beta of 1.20. The stock's fifty day moving average is $6.76 and its two-hundred day moving average is $6.07. IAMGOLD Co. has a 52-week low of $3.44 and a 52-week 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.

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. The business had revenue of $457.23 million during the quarter, compared to analyst estimates of $578.70 million. IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. Equities analysts predict that IAMGOLD Co. will post 0.67 EPS for the current year.

About IAMGOLD

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.