Van ECK Associates Corp Sells 3,042,764 Shares of IAMGOLD Co. (NYSE:IAG)

Van ECK Associates Corp trimmed its holdings in shares of IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 5.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 49,851,926 shares of the mining company's stock after selling 3,042,764 shares during the period. Van ECK Associates Corp owned 8.72% of IAMGOLD worth $257,239,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. BNP Paribas Financial Markets raised its holdings in shares of IAMGOLD by 368.1% during the third quarter. BNP Paribas Financial Markets now owns 1,521,670 shares of the mining company's stock worth $7,772,000 after purchasing an additional 1,196,564 shares during the period. Semanteon Capital Management LP acquired a new stake in shares of IAMGOLD in the 3rd quarter worth about $503,000. Connor Clark & Lunn Investment Management Ltd. increased its holdings in shares of IAMGOLD by 158.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company's stock worth $24,301,000 after acquiring an additional 2,839,556 shares during the period. U S Global Investors Inc. increased its holdings in shares of IAMGOLD by 241.6% in the 3rd quarter. U S Global Investors Inc. now owns 854,114 shares of the mining company's stock worth $4,467,000 after acquiring an additional 604,114 shares during the period. Finally, Cibc World Market Inc. increased its holdings in shares of IAMGOLD by 54.0% in the 4th quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company's stock worth $26,452,000 after acquiring an additional 1,795,869 shares during the period. 47.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IAG has been the subject of a number of recent analyst reports. Cibc World Mkts upgraded shares of IAMGOLD from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 2nd. Canaccord Genuity Group upgraded shares of IAMGOLD from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. Raymond James upgraded IAMGOLD from a "strong sell" rating to a "hold" rating in a report on Monday, February 3rd. Canaccord Genuity Group upgraded shares of IAMGOLD from a "hold" rating to a "buy" rating and lifted their price target for the stock from $7.75 to $10.50 in a research note on Tuesday, October 22nd. Finally, StockNews.com upgraded shares of IAMGOLD from a "hold" rating to a "buy" rating in a research report on Thursday, February 6th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, IAMGOLD has an average rating of "Moderate Buy" and an average target price of $6.57.

IAMGOLD Stock Down 3.0 %

IAG traded down $0.20 during trading on Friday, reaching $6.34. 9,997,003 shares of the stock were exchanged, compared to its average volume of 12,636,900. The stock has a market cap of $3.62 billion, a P/E ratio of 4.96 and a beta of 1.56. IAMGOLD Co. has a twelve month low of $2.38 and a twelve month high of $6.69. The stock's 50 day moving average price is $5.70 and its two-hundred day moving average price is $5.34. 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 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.