Polar Asset Management Partners Inc. Takes Position in IAMGOLD Co. (NYSE:IAG)

Polar Asset Management Partners Inc. acquired a new stake in IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,129,995 shares of the mining company's stock, valued at approximately $5,832,000. Polar Asset Management Partners Inc. owned approximately 0.20% of IAMGOLD at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. boosted its stake in IAMGOLD by 5.3% in the fourth quarter. Franklin Resources Inc. now owns 36,156 shares of the mining company's stock valued at $187,000 after acquiring an additional 1,836 shares in the last quarter. CIBC Asset Management Inc lifted its holdings in shares of IAMGOLD by 0.4% in the 4th quarter. CIBC Asset Management Inc now owns 700,955 shares of the mining company's stock valued at $3,615,000 after buying an additional 2,848 shares during the period. Bank of New York Mellon Corp boosted its position in shares of IAMGOLD by 12.7% during the 4th quarter. Bank of New York Mellon Corp now owns 35,046 shares of the mining company's stock worth $181,000 after purchasing an additional 3,961 shares in the last quarter. Northwest & Ethical Investments L.P. grew its position in IAMGOLD by 4.6% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 91,623 shares of the mining company's stock worth $473,000 after buying an additional 4,013 shares during the period. Finally, Freedom Investment Management Inc. grew its holdings in shares of IAMGOLD by 4.2% in the 4th quarter. Freedom Investment Management Inc. now owns 108,747 shares of the mining company's stock worth $561,000 after acquiring an additional 4,399 shares during the period. 47.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IAG has been the subject of a number of recent research reports. Scotiabank raised their price objective 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. National Bank Financial raised IAMGOLD to a "strong-buy" rating in a research report on Friday, March 21st. CIBC increased their price objective on shares of IAMGOLD from $8.40 to $9.20 and gave the stock 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 research note on Thursday, February 27th. Finally, BMO Capital Markets started coverage on IAMGOLD in a research note on Wednesday, April 16th. They set an "outperform" rating for the company. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, IAMGOLD has a consensus rating of "Moderate Buy" and a consensus target price of $7.74.

IAMGOLD Price Performance

IAMGOLD stock traded up $0.08 during midday trading on Friday, hitting $6.86. The company's stock had a trading volume of 15,454,588 shares, compared to its average volume of 10,605,585. The company has a market capitalization of $3.94 billion, a PE ratio of 4.73 and a beta of 1.20. IAMGOLD Co. has a 12 month low of $3.44 and a 12 month 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. The stock's 50-day moving average price is $6.76 and its 200-day moving average price is $6.06.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last posted its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.10 earnings per share (EPS) for the quarter, hitting 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 for the quarter, compared to the consensus estimate of $578.70 million. Analysts anticipate that IAMGOLD Co. will post 0.67 earnings per share for the current fiscal 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.