Bank of Montreal Can Has $23.97 Million Stock Holdings in IAMGOLD Co. (NYSE:IAG)

Bank of Montreal Can cut its holdings in shares of IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 13.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,642,692 shares of the mining company's stock after selling 742,086 shares during the period. Bank of Montreal Can owned approximately 0.81% of IAMGOLD worth $23,967,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in IAG. Verition Fund Management LLC purchased a new position in shares of IAMGOLD in the third quarter worth approximately $114,000. XTX Topco Ltd lifted its holdings in shares of IAMGOLD by 84.5% in the third quarter. XTX Topco Ltd now owns 118,740 shares of the mining company's stock valued at $621,000 after purchasing an additional 54,392 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new stake in shares of IAMGOLD in the third quarter worth $1,083,000. Geode Capital Management LLC grew its holdings in shares of IAMGOLD by 2.7% during the third quarter. Geode Capital Management LLC now owns 264,288 shares of the mining company's stock valued at $1,392,000 after buying an additional 6,874 shares in the last quarter. Finally, Toronto Dominion Bank lifted its stake in IAMGOLD by 15.6% in the 3rd quarter. Toronto Dominion Bank now owns 274,377 shares of the mining company's stock worth $1,435,000 after acquiring an additional 37,005 shares in the last quarter. 47.08% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

Several research firms recently commented on IAG. CIBC restated an "outperform" rating on shares of IAMGOLD in a report on Thursday, March 20th. BMO Capital Markets started coverage on IAMGOLD in a research note on Wednesday. They issued an "outperform" rating on the stock. Scotiabank lifted their price target on IAMGOLD from $6.75 to $7.50 and gave the company a "sector perform" rating in a report on Monday. StockNews.com downgraded shares of IAMGOLD from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Finally, Raymond James reiterated a "market perform" rating and issued a $8.00 price objective on shares of IAMGOLD in a report on Friday, April 4th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $7.57.

IAMGOLD Stock Performance

NYSE:IAG traded up $0.68 during mid-day trading on Wednesday, hitting $8.12. 23,681,292 shares of the company's stock traded hands, compared to its average volume of 10,043,912. IAMGOLD Co. has a 12 month low of $3.44 and a 12 month high of $8.38. The firm has a market capitalization of $4.65 billion, a price-to-earnings ratio of 5.60 and a beta of 1.52. The firm has a 50 day moving average of $6.10 and a two-hundred day moving average of $5.69. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24.

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). IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. The company had revenue of $469.90 million during the quarter, compared to analyst estimates of $498.68 million. On average, equities analysts forecast that IAMGOLD Co. will post 0.67 earnings per share 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.