Van ECK Associates Corp Grows Stock Position in IAMGOLD Co. (NYSE:IAG)

Van ECK Associates Corp boosted its stake in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 2.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 48,117,785 shares of the mining company’s stock after buying an additional 1,368,491 shares during the period. Van ECK Associates Corp owned 0.10% of IAMGOLD worth $121,736,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of IAG. CIBC Asset Management Inc boosted its holdings in shares of IAMGOLD by 0.9% during the third quarter. CIBC Asset Management Inc now owns 435,298 shares of the mining company’s stock worth $942,000 after purchasing an additional 4,000 shares during the period. Barclays PLC grew its position in shares of IAMGOLD by 1.9% in the 3rd quarter. Barclays PLC now owns 293,363 shares of the mining company’s stock worth $631,000 after buying an additional 5,470 shares during the last quarter. Public Sector Pension Investment Board increased its stake in shares of IAMGOLD by 0.9% during the third quarter. Public Sector Pension Investment Board now owns 987,468 shares of the mining company’s stock valued at $2,140,000 after buying an additional 8,485 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in shares of IAMGOLD during the fourth quarter valued at approximately $26,000. Finally, Koshinski Asset Management Inc. bought a new position in shares of IAMGOLD during the fourth quarter valued at approximately $34,000. Institutional investors own 47.08% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on IAG. BMO Capital Markets lifted their price target on shares of IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a report on Friday, April 5th. National Bank Financial reiterated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. StockNews.com raised shares of IAMGOLD from a “sell” rating to a “hold” rating in a research note on Friday. Scotiabank lifted their price objective on IAMGOLD from $3.25 to $3.75 and gave the company a “sector perform” rating in a research report on Thursday, April 18th. Finally, CIBC increased their target price on IAMGOLD from $3.00 to $3.10 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $3.55.

IAMGOLD Stock Down 4.2 %

Shares of IAG stock traded down $0.16 during trading hours on Tuesday, hitting $3.64. 2,579,563 shares of the company’s stock traded hands, compared to its average volume of 8,909,562. IAMGOLD Co. has a 12-month low of $1.99 and a 12-month high of $3.92. The company has a quick ratio of 0.77, a current ratio of 1.19 and a debt-to-equity ratio of 0.36. The stock has a market cap of $1.81 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 0.68 and a beta of 1.69. The stock’s fifty day simple moving average is $3.24 and its two-hundred day simple moving average is $2.73.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its earnings results on Thursday, February 15th. The mining company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.04. The business had revenue of $297.60 million during the quarter. IAMGOLD had a net margin of 9.55% and a return on equity of 1.97%. On average, analysts expect that IAMGOLD Co. will post 0.14 EPS for the current year.

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.