Allspring Global Investments Holdings LLC Purchases 277,000 Shares of IAMGOLD Co. (NYSE:IAG)

Allspring Global Investments Holdings LLC increased its position in shares of IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 27.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,289,000 shares of the mining company's stock after acquiring an additional 277,000 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.23% of IAMGOLD worth $6,654,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in IAG. BNP Paribas Financial Markets grew its position in IAMGOLD by 368.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,521,670 shares of the mining company's stock worth $7,772,000 after purchasing an additional 1,196,564 shares in the last quarter. Semanteon Capital Management LP bought a new stake in IAMGOLD in the third quarter worth $503,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in IAMGOLD by 158.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company's stock worth $24,301,000 after purchasing an additional 2,839,556 shares in the last quarter. Van ECK Associates Corp boosted its holdings in IAMGOLD by 8.8% in the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company's stock worth $276,639,000 after purchasing an additional 4,267,084 shares in the last quarter. Finally, Cibc World Market Inc. boosted its holdings in IAMGOLD by 54.0% in the fourth quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company's stock worth $26,452,000 after purchasing an additional 1,795,869 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company's stock.

IAMGOLD Trading Down 8.8 %

IAMGOLD stock traded down $0.56 during mid-day trading on Friday, hitting $5.76. 12,195,474 shares of the stock were exchanged, compared to its average volume of 12,194,562. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. IAMGOLD Co. has a 12 month low of $2.51 and a 12 month high of $6.69. The firm's fifty day simple moving average is $5.76 and its two-hundred day simple moving average is $5.39. The stock has a market capitalization of $3.29 billion, a price-to-earnings ratio of 4.50 and a beta of 1.56.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last posted its quarterly earnings results on Thursday, February 20th. The mining company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.05). The business had revenue of $469.90 million during the quarter, compared to analyst estimates of $498.68 million. IAMGOLD had a net margin of 49.56% and a return on equity of 10.01%. Analysts forecast that IAMGOLD Co. will post 0.57 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on IAG. Cibc World Mkts raised shares of IAMGOLD from a "hold" rating to a "strong-buy" rating in a report on Monday, December 2nd. Raymond James upgraded shares of IAMGOLD from a "strong sell" rating to a "hold" rating in a research report on Monday, February 3rd. CIBC raised shares of IAMGOLD from a "neutral" rating to a "sector outperform" rating in a research note on Monday, December 2nd. Finally, StockNews.com raised shares of IAMGOLD from a "hold" rating to a "buy" rating in a research note on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $6.57.

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.