Intact Investment Management Inc. Has $14.13 Million Stake in IAMGOLD Co. (NYSE:IAG)

Intact Investment Management Inc. increased its stake in shares of IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 158.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,733,450 shares of the mining company's stock after purchasing an additional 1,675,440 shares during the quarter. Intact Investment Management Inc. owned about 0.48% of IAMGOLD worth $14,127,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Tobam bought a new position in IAMGOLD in the 4th quarter valued at $25,000. Blue Trust Inc. lifted its stake in shares of IAMGOLD by 157.1% during the fourth quarter. Blue Trust Inc. now owns 9,018 shares of the mining company's stock valued at $47,000 after acquiring an additional 5,511 shares during the period. Raab & Moskowitz Asset Management LLC bought a new position in IAMGOLD in the fourth quarter valued at about $56,000. Atria Wealth Solutions Inc. acquired a new stake in IAMGOLD in the fourth quarter worth about $68,000. Finally, Choreo LLC bought a new stake in IAMGOLD during the 4th quarter worth about $88,000. Institutional investors and hedge funds own 47.08% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on IAG shares. Cibc World Mkts raised shares of IAMGOLD from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 2nd. Raymond James upgraded shares of IAMGOLD from a "strong sell" rating to a "hold" rating in a report on Monday, February 3rd. CIBC raised shares of IAMGOLD from a "neutral" rating to a "sector outperform" rating in a research note on Monday, December 2nd. Finally, StockNews.com cut shares of IAMGOLD from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $6.57.

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IAMGOLD Trading Down 1.6 %

NYSE:IAG traded down $0.10 during trading hours on Tuesday, hitting $5.98. The stock had a trading volume of 8,855,592 shares, compared to its average volume of 9,466,286. The business's 50 day moving average is $5.89 and its 200-day moving average is $5.51. 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 $3.42 billion, a price-to-earnings ratio of 4.12 and a beta of 1.63. IAMGOLD Co. has a one year low of $2.90 and a one year high of $6.69.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last announced its quarterly earnings results on Thursday, February 20th. The mining company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.05). The firm had revenue of $469.90 million during the quarter, compared to analyst estimates of $498.68 million. IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. Sell-side analysts anticipate that IAMGOLD Co. will post 0.67 EPS for the current fiscal 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.