Numerai GP LLC Buys New Holdings in IAMGOLD Co. (NYSE:IAG)

Numerai GP LLC purchased a new stake in IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 125,676 shares of the mining company's stock, valued at approximately $648,000.

Other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its position 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 valued at $6,654,000 after purchasing an additional 277,000 shares in the last quarter. Cibc World Market Inc. grew its position 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 valued at $26,452,000 after purchasing an additional 1,795,869 shares in the last quarter. Triasima Portfolio Management inc. grew its position in shares of IAMGOLD by 44.5% in the fourth 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. JPMorgan Chase & Co. grew its position in shares of IAMGOLD by 66.6% in the third quarter. JPMorgan Chase & Co. now owns 1,511,328 shares of the mining company's stock valued at $7,904,000 after purchasing an additional 604,259 shares in the last quarter. Finally, Atria Wealth Solutions Inc. purchased a new position in shares of IAMGOLD in the fourth quarter valued at $68,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

IAMGOLD Price Performance

IAG stock traded up $0.05 during mid-day trading on Friday, hitting $6.31. 13,235,368 shares of the stock were exchanged, compared to its average volume of 10,465,999. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. The business has a fifty day moving average price of $6.61 and a 200 day moving average price of $5.96. IAMGOLD Co. has a 12 month low of $3.44 and a 12 month high of $8.38. The stock has a market capitalization of $3.63 billion, a price-to-earnings ratio of 4.35 and a beta of 1.20.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last issued its quarterly 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 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, sell-side analysts anticipate that IAMGOLD Co. will post 0.67 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on IAG. StockNews.com cut IAMGOLD from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. CIBC boosted their target price on IAMGOLD from $8.40 to $9.20 and gave the stock an "outperformer" rating in a research report on Thursday, May 8th. Raymond James restated a "market perform" rating and set a $8.00 target price on shares of IAMGOLD in a research report on Friday, April 4th. National Bank Financial upgraded IAMGOLD to a "strong-buy" rating in a research report on Friday, March 21st. Finally, Scotiabank boosted their target price on IAMGOLD from $7.50 to $7.75 and gave the stock a "sector perform" rating in a research report on Monday, May 12th. 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. According to data from MarketBeat, the stock currently has a consensus 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.