IAMGOLD Co. (NYSE:IAG) Shares Purchased by BNP Paribas Financial Markets

BNP Paribas Financial Markets raised its position in IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 368.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,521,670 shares of the mining company's stock after buying an additional 1,196,564 shares during the quarter. BNP Paribas Financial Markets owned about 0.27% of IAMGOLD worth $7,772,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in IAMGOLD by 1.0% during the first quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company's stock valued at $58,871,000 after purchasing an additional 168,302 shares during the last quarter. Cetera Advisors LLC bought a new position in IAMGOLD in the first quarter worth $50,000. Continuum Advisory LLC increased its stake in shares of IAMGOLD by 92.9% in the 2nd quarter. Continuum Advisory LLC now owns 20,450 shares of the mining company's stock worth $77,000 after acquiring an additional 9,850 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in IAMGOLD during the 2nd quarter valued at about $183,000. Finally, Intact Investment Management Inc. grew its holdings in IAMGOLD by 99.2% in the second quarter. Intact Investment Management Inc. now owns 1,313,100 shares of the mining company's stock worth $4,933,000 after purchasing an additional 654,000 shares during the period. Institutional investors own 47.08% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on IAG. Canaccord Genuity Group raised IAMGOLD from a "hold" rating to a "buy" rating and upped their price target for the company from $7.75 to $10.50 in a report on Tuesday, October 22nd. CIBC raised IAMGOLD from a "neutral" rating to a "sector outperform" rating in a report on Monday. National Bank Financial upgraded IAMGOLD from a "sector perform" rating to an "outperform" rating in a research report on Thursday, October 10th. Canaccord Genuity Group upgraded shares of IAMGOLD from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. Finally, Scotiabank raised their price objective on shares of IAMGOLD from $4.75 to $5.50 and gave the stock a "sector perform" rating in a research note on Monday, August 19th. Two research analysts have rated the stock with a hold rating and six have assigned a 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 target price of $6.68.

IAMGOLD Stock Up 5.2 %

Shares of IAG traded up $0.28 during mid-day trading on Tuesday, hitting $5.71. 5,006,823 shares of the company traded hands, compared to its average volume of 8,937,165. The company has a market capitalization of $3.26 billion, a PE ratio of 4.24 and a beta of 1.56. IAMGOLD Co. has a 1-year low of $2.11 and a 1-year high of $6.37. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The business has a 50 day moving average of $5.34 and a 200 day moving average of $4.68.

About IAMGOLD

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.