Point72 Asset Management L.P. Takes Position in IAMGOLD Co. (NYSE:IAG)

Point72 Asset Management L.P. acquired a new position in IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 512,843 shares of the mining company's stock, valued at approximately $2,646,000. Point72 Asset Management L.P. owned approximately 0.09% of IAMGOLD at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of IAG. RCF Management L.L.C. purchased a new stake in shares of IAMGOLD during the fourth quarter worth about $128,174,000. Millennium Management LLC grew its holdings in IAMGOLD by 88.4% during the 4th quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company's stock valued at $53,307,000 after buying an additional 4,846,254 shares in the last quarter. Invesco Ltd. raised its position in shares of IAMGOLD by 41.6% during the fourth quarter. Invesco Ltd. now owns 7,139,935 shares of the mining company's stock valued at $36,842,000 after buying an additional 2,098,215 shares during the last quarter. American Century Companies Inc. lifted 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 worth $52,499,000 after buying an additional 2,092,803 shares in the last quarter. Finally, Cibc World Market Inc. lifted its holdings in shares of IAMGOLD by 54.0% in the fourth quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company's stock worth $26,452,000 after buying an additional 1,795,869 shares in the last quarter. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

IAMGOLD Stock Performance

Shares of IAG traded up $0.17 during mid-day trading on Monday, reaching $6.74. The company had a trading volume of 18,591,926 shares, compared to its average volume of 10,485,151. The stock has a market capitalization of $3.87 billion, a P/E ratio of 4.64 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 stock has a 50 day moving average of $6.68 and a two-hundred day moving average of $6.01. 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 announced its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. The firm had revenue of $457.23 million during the quarter, compared to analyst estimates of $578.70 million. On average, analysts expect that IAMGOLD Co. will post 0.67 earnings per share for the current year.

Wall Street Analyst Weigh In

IAG has been the subject of a number of research reports. Raymond James reissued a "market perform" rating and set a $8.00 price target on shares of IAMGOLD in a research note on Friday, April 4th. National Bank Financial raised IAMGOLD to a "strong-buy" rating in a report on Friday, March 21st. CIBC increased 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. Wall Street Zen lowered shares of IAMGOLD from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Finally, 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. Four equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, IAMGOLD has an average rating of "Moderate Buy" and a consensus price target of $7.74.

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.