Polar Asset Management Partners Inc. Takes $5.50 Million Position in IAMGOLD Co. (NYSE:IAG)

Polar Asset Management Partners Inc. acquired a new position in shares of IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,129,995 shares of the mining company's stock, valued at approximately $5,500,000. Polar Asset Management Partners Inc. owned 0.20% of IAMGOLD as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Donald Smith & CO. Inc. grew its holdings in IAMGOLD by 0.7% in the fourth quarter. Donald Smith & CO. Inc. now owns 31,233,874 shares of the mining company's stock worth $161,167,000 after purchasing an additional 216,751 shares during the period. RCF Management L.L.C. bought a new position in shares of IAMGOLD during the 4th quarter worth about $128,174,000. Vanguard Group Inc. grew its stake in shares of IAMGOLD by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 21,232,871 shares of the mining company's stock valued at $109,741,000 after buying an additional 321,458 shares during the period. Millennium Management LLC increased its position in IAMGOLD by 88.4% in the 4th quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company's stock valued at $53,307,000 after buying an additional 4,846,254 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in IAMGOLD by 25.9% during the 4th quarter. American Century Companies Inc. now owns 10,162,314 shares of the mining company's stock worth $52,499,000 after buying an additional 2,092,803 shares during the period. Institutional investors own 47.08% of the company's stock.

Analyst Ratings Changes

IAG has been the subject of a number of research reports. National Bank Financial raised IAMGOLD to a "strong-buy" rating in a research note on Friday, March 21st. CIBC increased their target price on IAMGOLD from $8.40 to $9.20 and gave the stock an "outperformer" rating in a report on Thursday, May 8th. StockNews.com downgraded shares of IAMGOLD from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Raymond James restated a "market perform" rating and set a $8.00 price target on shares of IAMGOLD in a research note on Friday, April 4th. Finally, Scotiabank raised 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. Four analysts have rated the stock with a hold rating, three have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, IAMGOLD currently has an average rating of "Moderate Buy" and a consensus target price of $7.74.

IAMGOLD Stock Up 1.6%

NYSE:IAG traded up $0.10 during trading hours on Monday, hitting $6.40. 5,258,731 shares of the company traded hands, compared to its average volume of 10,445,174. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The company has a market cap of $3.68 billion, a PE ratio of 4.41 and a beta of 1.20. The firm's 50-day simple moving average is $6.61 and its 200-day simple moving average is $5.97. IAMGOLD Co. has a one year low of $3.44 and a one year high of $8.38.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last released its quarterly 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. 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 analyst estimates of $578.70 million. Equities analysts predict that IAMGOLD Co. will post 0.67 earnings per share for the current year.

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.