Voloridge Investment Management LLC Grows Stake in IAMGOLD Co. (NYSE:IAG)

Voloridge Investment Management LLC lifted its holdings in IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 5.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,520,218 shares of the mining company's stock after acquiring an additional 76,856 shares during the quarter. Voloridge Investment Management LLC owned 0.27% of IAMGOLD worth $7,844,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in IAG. Allspring Global Investments Holdings LLC lifted its stake in shares of IAMGOLD by 27.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,289,000 shares of the mining company's stock worth $6,654,000 after buying an additional 277,000 shares in the last quarter. Cibc World Market Inc. grew its stake in shares of IAMGOLD by 54.0% during the 4th quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company's stock worth $26,452,000 after purchasing an additional 1,795,869 shares during the period. Triasima Portfolio Management inc. increased its holdings in IAMGOLD by 44.5% during the 4th quarter. Triasima Portfolio Management inc. now owns 352,315 shares of the mining company's stock valued at $1,820,000 after acquiring an additional 108,524 shares in the last quarter. Atria Wealth Solutions Inc. acquired a new stake in shares of IAMGOLD during the 4th quarter worth about $68,000. Finally, Franklin Resources Inc. boosted its stake in shares of IAMGOLD by 5.3% during the 4th quarter. Franklin Resources Inc. now owns 36,156 shares of the mining company's stock worth $187,000 after purchasing an additional 1,836 shares during the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

IAMGOLD Stock Down 0.1%

Shares of NYSE:IAG traded down $0.01 during trading on Friday, hitting $6.78. 8,760,604 shares of the company's stock traded hands, compared to its average volume of 10,591,655. The company has a market cap of $3.90 billion, a price-to-earnings ratio of 4.68 and a beta of 1.20. The company has a 50-day moving average price of $6.75 and a 200-day moving average price of $6.04. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. IAMGOLD Co. has a 52 week low of $3.44 and a 52 week high of $8.38.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last released its earnings results on Tuesday, May 6th. The mining company reported $0.10 earnings per share for the quarter, meeting analysts' consensus estimates of $0.10. The firm had revenue of $457.23 million during the quarter, compared to the consensus estimate of $578.70 million. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. As a group, research analysts forecast that IAMGOLD Co. will post 0.67 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Scotiabank lifted their price objective on shares of IAMGOLD from $7.50 to $7.75 and gave the company a "sector perform" rating in a research note on Monday, May 12th. CIBC upped their target price on IAMGOLD from $8.40 to $9.20 and gave the company an "outperformer" rating in a report on Thursday, May 8th. BMO Capital Markets began coverage on IAMGOLD in a report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Wall Street Zen downgraded IAMGOLD from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. 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 company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $7.74.

IAMGOLD Company 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.