Bank of Montreal Can Has $28.39 Million Stock Position in IAMGOLD Co. (NYSE:IAG)

Bank of Montreal Can increased its holdings in shares of IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 130.6% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 5,384,778 shares of the mining company's stock after purchasing an additional 3,049,252 shares during the period. Bank of Montreal Can owned 0.94% of IAMGOLD worth $28,385,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of IAG. Vanguard Group Inc. lifted its position in shares of IAMGOLD by 1.0% in the first quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company's stock valued at $58,871,000 after buying an additional 168,302 shares during the last quarter. Cetera Advisors LLC acquired a new stake in IAMGOLD during the 1st quarter valued at $50,000. Continuum Advisory LLC increased its holdings in shares of IAMGOLD by 92.9% in the second quarter. Continuum Advisory LLC now owns 20,450 shares of the mining company's stock valued at $77,000 after purchasing an additional 9,850 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of IAMGOLD in the second quarter valued at $183,000. Finally, Intact Investment Management Inc. raised its position in shares of IAMGOLD by 99.2% in the second quarter. Intact Investment Management Inc. now owns 1,313,100 shares of the mining company's stock valued at $4,933,000 after purchasing an additional 654,000 shares during the period. Institutional investors own 47.08% of the company's stock.

IAMGOLD Price Performance

NYSE IAG traded up $0.11 during midday trading on Friday, hitting $5.50. The company had a trading volume of 3,014,636 shares, compared to its average volume of 8,964,482. The firm has a 50-day moving average price of $5.34 and a 200-day moving average price of $4.67. The company has a market capitalization of $3.14 billion, a PE ratio of 4.30 and a beta of 1.57. 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 Co. has a twelve month low of $2.11 and a twelve month high of $6.37.

Wall Street Analysts Forecast Growth

IAG has been the subject of several research analyst reports. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $6.00 target price on shares of IAMGOLD in a report on Tuesday, October 22nd. Canaccord Genuity Group raised IAMGOLD from a "hold" rating to a "buy" rating and upped their target price for the company from $7.75 to $10.50 in a research report on Tuesday, October 22nd. National Bank Financial raised IAMGOLD from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 10th. Scotiabank upped their price objective on IAMGOLD from $4.75 to $5.50 and gave the company a "sector perform" rating in a report on Monday, August 19th. Finally, Canaccord Genuity Group raised IAMGOLD from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $6.68.

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.