Fmr LLC Boosts Stake in IAMGOLD Co. (NYSE:IAG)

FMR LLC boosted its position in shares of IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 107.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,819,600 shares of the mining company's stock after acquiring an additional 4,577,599 shares during the quarter. FMR LLC owned 1.54% of IAMGOLD worth $46,174,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of IAG. Van ECK Associates Corp boosted its stake in shares of 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 buying an additional 4,267,084 shares during the period. Millennium Management LLC boosted its stake in shares of IAMGOLD by 194.2% in the 2nd quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company's stock valued at $29,573,000 after buying an additional 5,204,715 shares during the period. American Century Companies Inc. boosted its stake in shares of IAMGOLD by 28.6% in the 2nd quarter. American Century Companies Inc. now owns 5,708,298 shares of the mining company's stock valued at $21,423,000 after buying an additional 1,270,608 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of 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 period. Finally, Bank of Montreal Can boosted 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 currently owned by hedge funds and other institutional investors.

IAMGOLD Stock Performance

IAG traded down $0.24 during trading on Friday, hitting $5.35. 7,619,206 shares of the stock were exchanged, compared to its average volume of 6,906,552. The firm has a market capitalization of $3.06 billion, a P/E ratio of 4.18 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 stock has a fifty day moving average price of $5.36 and a two-hundred day moving average price of $4.70. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on IAG shares. StockNews.com upgraded IAMGOLD from a "hold" rating to a "buy" rating in a research note on Monday, November 11th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $6.00 price objective on shares of IAMGOLD in a research note on Tuesday, October 22nd. Canaccord Genuity Group raised IAMGOLD from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. CIBC raised IAMGOLD from a "neutral" rating to a "sector outperform" rating in a research report on Monday, December 2nd. Finally, Canaccord Genuity Group raised IAMGOLD from a "hold" rating to a "buy" rating and raised their target price for the stock from $7.75 to $10.50 in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus 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.