IAMGOLD Co. (NYSE:IAG) Stake Lifted by LPL Financial LLC

LPL Financial LLC raised its stake in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 79.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 54,277 shares of the mining company’s stock after buying an additional 23,990 shares during the quarter. LPL Financial LLC’s holdings in IAMGOLD were worth $280,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. American Century Companies Inc. lifted its position in IAMGOLD by 25.9% in the fourth quarter. American Century Companies Inc. now owns 10,162,314 shares of the mining company’s stock worth $52,499,000 after purchasing an additional 2,092,803 shares during the period. Cibc World Market Inc. boosted its stake in IAMGOLD by 54.0% during 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 buying an additional 1,795,869 shares in the last quarter. Intact Investment Management Inc. grew its holdings in IAMGOLD by 158.4% during the fourth quarter. Intact Investment Management Inc. now owns 2,733,450 shares of the mining company’s stock worth $14,127,000 after acquiring an additional 1,675,440 shares during the period. JPMorgan Chase & Co. raised its position in IAMGOLD by 66.6% in the third quarter. JPMorgan Chase & Co. now owns 1,511,328 shares of the mining company’s stock worth $7,904,000 after acquiring an additional 604,259 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in IAMGOLD by 27.4% in 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 acquiring an additional 277,000 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. CIBC reissued an “outperform” rating on shares of IAMGOLD in a research note on Thursday, March 20th. StockNews.com cut IAMGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Raymond James reiterated a “market perform” rating and issued a $8.00 target price on shares of IAMGOLD in a report on Friday, April 4th. Scotiabank raised their price objective on shares of IAMGOLD from $6.75 to $7.50 and gave the stock a “sector perform” rating in a research note on Monday, April 14th. Finally, National Bank Financial raised shares of IAMGOLD to a “strong-buy” rating in a research note on Friday, March 21st. Four analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, IAMGOLD presently has an average rating of “Moderate Buy” and an average target price of $7.57.

IAMGOLD Price Performance

IAMGOLD stock opened at $7.21 on Tuesday. The business has a 50 day simple moving average of $6.30 and a 200 day simple moving average of $5.86. 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 company has a market capitalization of $4.15 billion, a PE ratio of 4.97 and a beta of 1.52. IAMGOLD Co. has a one year low of $3.44 and a one year high of $8.38.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its earnings results on Thursday, February 20th. The mining company reported $0.10 EPS for the quarter, missing the consensus estimate of $0.15 by ($0.05). The firm had revenue of $469.90 million during the quarter, compared to analyst estimates of $498.68 million. IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. On average, sell-side analysts forecast that IAMGOLD Co. will post 0.67 EPS for the current fiscal year.

IAMGOLD Company 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.