Mariner LLC Grows Stock Position in IAMGOLD Co. (NYSE:IAG)

Mariner LLC increased its stake in shares of IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 651.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 81,691 shares of the mining company's stock after buying an additional 70,813 shares during the quarter. Mariner LLC's holdings in IAMGOLD were worth $422,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in IAG. Allspring Global Investments Holdings LLC raised its holdings in IAMGOLD by 27.4% during 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 purchasing an additional 277,000 shares in the last quarter. Cibc World Market Inc. increased its position in 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. raised its stake in shares of IAMGOLD by 44.5% during the 4th quarter. Triasima Portfolio Management inc. now owns 352,315 shares of the mining company's stock worth $1,820,000 after buying an additional 108,524 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of IAMGOLD by 66.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,511,328 shares of the mining company's stock valued at $7,904,000 after buying an additional 604,259 shares during the period. Finally, Atria Wealth Solutions Inc. purchased a new stake in shares of IAMGOLD in the fourth quarter valued at approximately $68,000. Institutional investors and hedge funds own 47.08% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. BMO Capital Markets started coverage on IAMGOLD in a research report on Wednesday, April 16th. They issued an "outperform" rating for the company. StockNews.com cut shares of IAMGOLD from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. CIBC reiterated an "outperform" rating on shares of IAMGOLD in a research report on Thursday, March 20th. 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. Finally, Scotiabank boosted their target price on IAMGOLD from $6.75 to $7.50 and gave the stock a "sector perform" rating in a research report on Monday, April 14th. Four analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $7.57.

IAMGOLD Price Performance

IAMGOLD stock traded up $0.42 during midday trading on Tuesday, reaching $7.38. 17,971,013 shares of the company were exchanged, compared to its average volume of 10,291,515. The firm's 50-day simple moving average is $6.41 and its 200-day simple moving average is $5.92. IAMGOLD Co. has a 1 year low of $3.44 and a 1 year high of $8.38. The company has a market capitalization of $4.24 billion, a price-to-earnings ratio of 5.09 and a beta of 1.20. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89.

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 for the quarter, missing analysts' consensus estimates of $0.12 by ($0.02). IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. On average, analysts anticipate that IAMGOLD Co. will post 0.67 EPS for the current 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.