Tower Research Capital LLC TRC Buys 44,696 Shares of IAMGOLD Co. (NYSE:IAG)

Tower Research Capital LLC TRC lifted its stake in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 275.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 60,940 shares of the mining company’s stock after acquiring an additional 44,696 shares during the period. Tower Research Capital LLC TRC’s holdings in IAMGOLD were worth $167,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Van ECK Associates Corp lifted its holdings in shares of IAMGOLD by 14.0% during the 1st quarter. Van ECK Associates Corp now owns 51,174,133 shares of the mining company’s stock worth $138,678,000 after acquiring an additional 6,269,790 shares during the last quarter. Kopernik Global Investors LLC lifted its stake in IAMGOLD by 1.0% in the fourth quarter. Kopernik Global Investors LLC now owns 24,042,429 shares of the mining company’s stock worth $62,029,000 after purchasing an additional 239,188 shares during the last quarter. Vanguard Group Inc. boosted its position in IAMGOLD by 2.9% during the third quarter. Vanguard Group Inc. now owns 16,240,870 shares of the mining company’s stock valued at $17,378,000 after buying an additional 460,969 shares during the period. Norges Bank purchased a new stake in IAMGOLD during the fourth quarter valued at about $12,557,000. Finally, Nomura Holdings Inc. purchased a new stake in IAMGOLD during the fourth quarter valued at about $7,776,000. 49.40% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. TD Securities cut their price target on shares of IAMGOLD from $6.00 to $5.50 and set a “buy” rating for the company in a research report on Monday, August 14th. CSFB cut their price target on shares of IAMGOLD from $3.00 to $2.50 and set a “neutral” rating for the company in a research report on Thursday, August 17th. Finally, StockNews.com assumed coverage on shares of IAMGOLD in a research report on Thursday, August 17th. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $3.03.

IAMGOLD Stock Performance

Shares of NYSE:IAG opened at $2.46 on Wednesday. The company has a market cap of $1.18 billion, a price-to-earnings ratio of 82.03, a price-to-earnings-growth ratio of 1.35 and a beta of 1.43. The company has a 50-day moving average price of $2.56 and a 200-day moving average price of $2.67. The company has a current ratio of 2.38, a quick ratio of 1.87 and a debt-to-equity ratio of 0.36. IAMGOLD Co. has a 12 month low of $0.92 and a 12 month high of $3.34.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Friday, August 11th. The mining company reported ($0.01) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. IAMGOLD had a net margin of 1.99% and a negative return on equity of 0.05%. The company had revenue of $238.80 million during the quarter. During the same period in the previous year, the company earned ($0.01) earnings per share. As a group, equities analysts anticipate that IAMGOLD Co. will post 0.04 EPS for the current year.

IAMGOLD Profile

IAMGOLD Corporation, through its subsidiaries, explores, develops, and operates gold mining properties in North America and West Africa. The company owns 100% interest in the Westwood mine, covers an area of 1,925 hectare and located in Quebec and the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and 90% interests in the Essakane mine situated in Burkina Faso and Boto gold project located in Senegal, West Africa.