National Bank of Canada FI Raises Stock Holdings in IAMGOLD Co. (NYSE:IAG)

National Bank of Canada FI raised its holdings in shares of IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 48.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,914,730 shares of the mining company's stock after purchasing an additional 628,253 shares during the quarter. National Bank of Canada FI owned 0.34% of IAMGOLD worth $10,018,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ORG Partners LLC purchased a new position in shares of IAMGOLD in the 3rd quarter worth about $29,000. Eastern Bank purchased a new stake in shares of IAMGOLD during the third quarter valued at approximately $30,000. TIAA Trust National Association purchased a new stake in shares of IAMGOLD during the second quarter valued at approximately $38,000. Cetera Advisors LLC purchased a new stake in shares of IAMGOLD during the first quarter valued at approximately $50,000. Finally, WINTON GROUP Ltd purchased a new stake in shares of IAMGOLD during the second quarter valued at approximately $52,000. Institutional investors own 47.08% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on IAG. CIBC raised IAMGOLD from a "neutral" rating to a "sector outperform" rating in a research note on Monday, December 2nd. Canaccord Genuity Group upgraded IAMGOLD from a "hold" rating to a "buy" rating and raised their price target for the stock from $7.75 to $10.50 in a research note on Tuesday, October 22nd. Cibc World Mkts raised IAMGOLD from a "hold" rating to a "strong-buy" rating in a report on Monday, December 2nd. Royal Bank of Canada reissued a "sector perform" rating and set a $6.00 price target on shares of IAMGOLD in a report on Tuesday, October 22nd. Finally, National Bank Financial raised IAMGOLD from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $6.68.

IAMGOLD Price Performance

IAMGOLD stock traded down $0.36 during midday trading on Thursday, reaching $5.56. 6,516,301 shares of the stock traded hands, compared to its average volume of 8,872,324. The stock's fifty day moving average is $5.38 and its 200-day moving average is $4.74. IAMGOLD Co. has a 12 month low of $2.11 and a 12 month high of $6.37. The stock has a market cap of $3.18 billion, a P/E ratio of 4.62 and a beta of 1.56. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24.

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.