Canada Pension Plan Investment Board Has $2.34 Million Position in IAMGOLD Co. (NYSE:IAG)

Canada Pension Plan Investment Board boosted its stake in IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 15.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 453,200 shares of the mining company's stock after buying an additional 60,900 shares during the period. Canada Pension Plan Investment Board owned 0.08% of IAMGOLD worth $2,340,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Franklin Resources Inc. boosted its holdings in shares of IAMGOLD by 5.3% in the fourth quarter. Franklin Resources Inc. now owns 36,156 shares of the mining company's stock valued at $187,000 after acquiring an additional 1,836 shares in the last quarter. CIBC Asset Management Inc lifted its position in IAMGOLD by 0.4% in the fourth quarter. CIBC Asset Management Inc now owns 700,955 shares of the mining company's stock worth $3,615,000 after purchasing an additional 2,848 shares during the period. Bank of New York Mellon Corp boosted its stake in IAMGOLD by 12.7% during the 4th quarter. Bank of New York Mellon Corp now owns 35,046 shares of the mining company's stock valued at $181,000 after purchasing an additional 3,961 shares in the last quarter. Northwest & Ethical Investments L.P. increased its position in shares of IAMGOLD by 4.6% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 91,623 shares of the mining company's stock valued at $473,000 after purchasing an additional 4,013 shares during the period. Finally, Tobam bought a new stake in shares of IAMGOLD in the 4th quarter worth $25,000. Institutional investors and hedge funds own 47.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Scotiabank lifted their target price on IAMGOLD from $6.75 to $7.50 and gave the stock a "sector perform" rating in a report on Monday, April 14th. BMO Capital Markets started coverage on shares of IAMGOLD in a research note on Wednesday, April 16th. They issued an "outperform" rating on the stock. CIBC reiterated an "outperform" rating on shares of IAMGOLD in a report on Thursday, March 20th. National Bank Financial upgraded shares of IAMGOLD to a "strong-buy" rating in a report on Friday, March 21st. Finally, Raymond James reaffirmed a "market perform" rating and issued a $8.00 price target on shares of IAMGOLD in a report on Friday, April 4th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $7.57.

IAMGOLD Trading Down 2.1 %

Shares of NYSE:IAG traded down $0.15 during mid-day trading on Friday, hitting $7.04. The stock had a trading volume of 10,282,192 shares, compared to its average volume of 10,145,362. The company's 50 day moving average is $6.28 and its 200-day moving average is $5.83. IAMGOLD Co. has a 12-month low of $3.44 and a 12-month high of $8.38. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. The company has a market cap of $4.05 billion, a PE ratio of 4.86 and a beta of 1.52.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last released its earnings results on Thursday, February 20th. The mining company reported $0.10 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.15 by ($0.05). IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. The business had revenue of $469.90 million during the quarter, compared to analysts' expectations of $498.68 million. On average, sell-side analysts predict that IAMGOLD Co. will post 0.67 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.