IAMGOLD Co. (NYSE:IAG) Shares Acquired by Millennium Management LLC

Millennium Management LLC grew its position in shares of IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 88.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,330,194 shares of the mining company's stock after purchasing an additional 4,846,254 shares during the quarter. Millennium Management LLC owned approximately 1.81% of IAMGOLD worth $53,307,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC increased its holdings in shares of IAMGOLD by 27.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,289,000 shares of the mining company's stock valued at $6,654,000 after purchasing an additional 277,000 shares in the last quarter. Cibc World Market Inc. increased its holdings 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 valued at $26,452,000 after purchasing an additional 1,795,869 shares in the last quarter. Triasima Portfolio Management inc. increased its holdings 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 valued at $1,820,000 after purchasing an additional 108,524 shares in the last quarter. Atria Wealth Solutions Inc. purchased a new position in shares of IAMGOLD during the 4th quarter valued at approximately $68,000. Finally, Franklin Resources Inc. increased its holdings 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 valued at $187,000 after purchasing an additional 1,836 shares in the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

IAMGOLD Price Performance

IAG traded up $0.10 on Monday, hitting $6.40. 5,258,731 shares of the company's stock were exchanged, compared to its average volume of 10,445,174. IAMGOLD Co. has a fifty-two week low of $3.44 and a fifty-two week high of $8.38. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average price of $6.61 and a 200-day moving average price of $5.97. The stock has a market cap of $3.68 billion, a price-to-earnings ratio of 4.41 and a beta of 1.20.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last announced its earnings results 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 net margin of 50.19% and a return on equity of 10.64%. The company had revenue of $457.23 million for the quarter, compared to analysts' expectations of $578.70 million. As a group, equities analysts anticipate that IAMGOLD Co. will post 0.67 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently weighed in on IAG. BMO Capital Markets initiated coverage on shares of IAMGOLD in a report on Wednesday, April 16th. They set an "outperform" rating for the company. StockNews.com downgraded IAMGOLD from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Scotiabank upped their target price on IAMGOLD from $7.50 to $7.75 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Raymond James reaffirmed a "market perform" rating and set a $8.00 target price on shares of IAMGOLD in a research note on Friday, April 4th. Finally, National Bank Financial raised IAMGOLD to a "strong-buy" rating in a research note on Friday, March 21st. Four investment analysts have rated the stock with a hold rating, three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $7.74.

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.