Cibc World Market Inc. Buys 1,795,869 Shares of IAMGOLD Co. (NYSE:IAG)

Cibc World Market Inc. grew its holdings in IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 54.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 5,119,599 shares of the mining company's stock after buying an additional 1,795,869 shares during the quarter. Cibc World Market Inc. owned approximately 0.90% of IAMGOLD worth $26,452,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Van ECK Associates Corp increased its position in IAMGOLD by 8.8% in the 3rd quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company's stock valued at $276,639,000 after acquiring an additional 4,267,084 shares in the last quarter. Two Sigma Advisers LP increased its holdings in shares of IAMGOLD by 58.8% in the third quarter. Two Sigma Advisers LP now owns 10,083,115 shares of the mining company's stock valued at $52,735,000 after purchasing an additional 3,732,315 shares in the last quarter. FMR LLC raised its position in IAMGOLD by 107.9% in the 3rd quarter. FMR LLC now owns 8,819,600 shares of the mining company's stock worth $46,174,000 after purchasing an additional 4,577,599 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in IAMGOLD by 18.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 5,663,676 shares of the mining company's stock valued at $21,239,000 after buying an additional 898,077 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in shares of IAMGOLD by 130.6% in the 3rd quarter. Bank of Montreal Can now owns 5,384,778 shares of the mining company's stock valued at $28,385,000 after buying an additional 3,049,252 shares during the period. 47.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on IAG shares. StockNews.com cut IAMGOLD from a "buy" rating to a "hold" rating in a report on Wednesday, January 29th. Cibc World Mkts raised IAMGOLD from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 2nd. Canaccord Genuity Group upgraded IAMGOLD from a "hold" rating to a "buy" rating and boosted their target price for the stock from $7.75 to $10.50 in a research report on Tuesday, October 22nd. National Bank Financial upgraded shares of IAMGOLD from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 10th. Finally, Raymond James cut their target price on shares of IAMGOLD from $6.50 to $6.00 and set an "underperform" rating on the stock in a report on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, IAMGOLD presently has an average rating of "Moderate Buy" and a consensus target price of $6.57.

IAMGOLD Stock Down 1.3 %

IAMGOLD stock traded down $0.09 during mid-day trading on Tuesday, reaching $6.36. The company's stock had a trading volume of 9,044,954 shares, compared to its average volume of 12,110,592. The business's 50 day simple moving average is $5.51 and its 200 day simple moving average is $5.18. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. IAMGOLD Co. has a 12 month low of $2.32 and a 12 month high of $6.64. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of 5.00 and a beta of 1.56.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last announced its quarterly earnings data on Thursday, November 7th. The mining company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.11 by $0.07. IAMGOLD had a return on equity of 10.01% and a net margin of 49.56%. The company had revenue of $438.90 million during the quarter. During the same quarter in the previous year, the business earned ($0.01) EPS. As a group, research analysts anticipate that IAMGOLD Co. will post 0.58 earnings per share for the current year.

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.