Vanguard Group Inc. Grows Stock Position in IAMGOLD Co. (NYSE:IAG)

Vanguard Group Inc. boosted its position in IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 2.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,375,017 shares of the mining company's stock after acquiring an additional 363,051 shares during the quarter. Vanguard Group Inc. owned 3.61% of IAMGOLD worth $37,356,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp raised its stake in shares of IAMGOLD by 4.0% during the 3rd quarter. Van ECK Associates Corp now owns 46,749,294 shares of the mining company's stock worth $100,513,000 after purchasing an additional 1,779,306 shares during the period. Renaissance Technologies LLC raised its stake in shares of IAMGOLD by 0.7% during the 1st quarter. Renaissance Technologies LLC now owns 17,085,400 shares of the mining company's stock valued at $46,308,000 after purchasing an additional 124,300 shares during the period. Two Sigma Investments LP lifted its holdings in IAMGOLD by 492.0% during the 1st quarter. Two Sigma Investments LP now owns 7,284,801 shares of the mining company's stock worth $19,742,000 after purchasing an additional 6,054,262 shares in the last quarter. Two Sigma Advisers LP boosted its stake in IAMGOLD by 269.0% in the 1st quarter. Two Sigma Advisers LP now owns 5,687,600 shares of the mining company's stock worth $15,413,000 after purchasing an additional 4,146,200 shares during the period. Finally, Norges Bank bought a new stake in shares of IAMGOLD during the fourth quarter valued at about $12,557,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

IAMGOLD Stock Up 3.9 %

IAMGOLD stock traded up $0.14 on Thursday, hitting $3.76. 14,698,328 shares of the stock traded hands, compared to its average volume of 8,484,212. IAMGOLD Co. has a 1 year low of $1.99 and a 1 year high of $3.84. The firm has a market cap of $1.86 billion, a P/E ratio of 19.79, a price-to-earnings-growth ratio of 2.20 and a beta of 1.70. The company has a current ratio of 1.19, a quick ratio of 0.77 and a debt-to-equity ratio of 0.36. The business's fifty day simple moving average is $2.93 and its 200 day simple moving average is $2.58.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last issued its quarterly earnings results on Thursday, February 15th. The mining company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.04. IAMGOLD had a net margin of 9.55% and a return on equity of 1.97%. The company had revenue of $297.60 million during the quarter. As a group, sell-side analysts forecast that IAMGOLD Co. will post 0.04 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on IAG shares. BMO Capital Markets lifted their price objective on shares of IAMGOLD from $4.00 to $4.25 and gave the stock an "outperform" rating in a report on Friday, April 5th. CIBC increased their target price on shares of IAMGOLD from $3.00 to $3.10 and gave the stock a "neutral" rating in a report on Wednesday, February 7th. National Bank Financial reaffirmed a "sector perform spec overwgt" rating on shares of IAMGOLD in a research report on Wednesday, January 3rd. Finally, StockNews.com raised IAMGOLD from a "sell" rating to a "hold" rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $3.52.

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.