Point72 Asset Management L.P. Buys Shares of 512,843 IAMGOLD Co. (NYSE:IAG)

Point72 Asset Management L.P. acquired a new stake in IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 512,843 shares of the mining company's stock, valued at approximately $2,646,000. Point72 Asset Management L.P. owned 0.09% of IAMGOLD as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in IAG. Tobam acquired a new stake in IAMGOLD in the fourth quarter valued at approximately $25,000. Blue Trust Inc. boosted its position in shares of IAMGOLD by 157.1% during the fourth quarter. Blue Trust Inc. now owns 9,018 shares of the mining company's stock valued at $47,000 after buying an additional 5,511 shares during the last quarter. Raab & Moskowitz Asset Management LLC purchased a new position in shares of IAMGOLD during the fourth quarter valued at approximately $56,000. Atria Wealth Solutions Inc. purchased a new position in shares of IAMGOLD during the fourth quarter valued at approximately $68,000. Finally, Choreo LLC purchased a new position in shares of IAMGOLD during the fourth quarter valued at approximately $88,000. Institutional investors and hedge funds own 47.08% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on IAG. Wall Street Zen cut IAMGOLD from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Raymond James reaffirmed a "market perform" rating and set a $8.00 target price on shares of IAMGOLD in a research report on Friday, April 4th. BMO Capital Markets began coverage on IAMGOLD in a research report on Wednesday, April 16th. They set an "outperform" rating on the stock. CIBC lifted their target price on IAMGOLD from $8.40 to $9.20 and gave the company an "outperformer" rating in a research report on Thursday, May 8th. Finally, National Bank Financial raised IAMGOLD to a "strong-buy" rating in a research report on Friday, March 21st. Four investment 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.com, IAMGOLD currently has an average rating of "Moderate Buy" and a consensus price target of $7.74.

IAMGOLD Stock Performance

IAMGOLD stock traded up $0.17 during mid-day trading on Friday, reaching $6.74. 18,591,926 shares of the company's stock were exchanged, compared to its average volume of 10,526,854. The business's fifty day simple moving average is $6.67 and its 200 day simple moving average is $5.99. The firm has a market capitalization of $3.87 billion, a PE ratio of 4.64 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 quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last issued its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.10 EPS for the quarter, hitting analysts' consensus estimates of $0.10. The business had revenue of $457.23 million for 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%. On average, sell-side analysts expect that IAMGOLD Co. will post 0.67 earnings per share 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.