Invesco Ltd. Boosts Stock Holdings in IAMGOLD Co. (NYSE:IAG)

Invesco Ltd. boosted its stake in shares of IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 41.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,139,935 shares of the mining company's stock after acquiring an additional 2,098,215 shares during the quarter. Invesco Ltd. owned about 1.25% of IAMGOLD worth $36,842,000 as of its most recent SEC filing.

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

IAMGOLD Trading Down 1.8 %

Shares of IAG traded down $0.14 on Tuesday, hitting $7.64. 17,062,686 shares of the stock traded hands, compared to its average volume of 10,089,240. The firm has a market capitalization of $4.39 billion, a P/E ratio of 5.27 and a beta of 1.52. 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 Co. has a 1 year low of $3.44 and a 1 year high of $8.38. The stock's 50 day moving average is $6.24 and its two-hundred day moving average is $5.78.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last posted its quarterly earnings data 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 business had revenue of $469.90 million for the quarter, compared to analyst estimates of $498.68 million. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. As a group, sell-side analysts predict that IAMGOLD Co. will post 0.67 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Raymond James restated a "market perform" rating and set a $8.00 target price on shares of IAMGOLD in a report on Friday, April 4th. CIBC reaffirmed an "outperform" rating on shares of IAMGOLD in a report on Thursday, March 20th. National Bank Financial upgraded IAMGOLD to a "strong-buy" rating in a research note on Friday, March 21st. BMO Capital Markets initiated coverage on shares of IAMGOLD in a research note on Wednesday, April 16th. They issued an "outperform" rating on the stock. Finally, Scotiabank boosted their price objective on shares of IAMGOLD from $6.75 to $7.50 and gave the stock a "sector perform" rating in a report on Monday, April 14th. Four analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $7.57.

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.