JPMorgan Chase & Co. Raises Stock Holdings in IAMGOLD Co. (NYSE:IAG)

JPMorgan Chase & Co. boosted its holdings in shares of IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 66.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,511,328 shares of the mining company's stock after acquiring an additional 604,259 shares during the period. JPMorgan Chase & Co. owned 0.26% of IAMGOLD worth $7,904,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. American Century Companies Inc. increased 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 acquiring an additional 1,270,608 shares during the last quarter. WINTON GROUP Ltd acquired a new position in IAMGOLD during the second quarter valued at approximately $52,000. Dimensional Fund Advisors LP increased its stake in IAMGOLD by 18.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,663,676 shares of the mining company's stock valued at $21,239,000 after purchasing an additional 898,077 shares in the last quarter. XTX Topco Ltd acquired a new stake in IAMGOLD in the second quarter worth $241,000. Finally, Marshall Wace LLP bought a new position in shares of IAMGOLD during the second quarter worth $592,000. Institutional investors own 47.08% of the company's stock.

IAMGOLD Trading Up 2.7 %

Shares of IAMGOLD stock opened at $5.71 on Wednesday. The company has a 50 day simple moving average of $5.38 and a two-hundred day simple moving average of $5.01. IAMGOLD Co. has a 1 year low of $2.23 and a 1 year high of $6.37. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. The firm has a market cap of $3.26 billion, a PE ratio of 4.46 and a beta of 1.56.

Analysts Set New Price Targets

Several brokerages have recently weighed in on IAG. Cibc World Mkts raised shares of IAMGOLD from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 2nd. Canaccord Genuity Group raised IAMGOLD from a "hold" rating to a "buy" rating and raised their price objective for the company from $7.75 to $10.50 in a research report on Tuesday, October 22nd. Royal Bank of Canada restated a "sector perform" rating and set a $6.00 target price on shares of IAMGOLD in a research note on Tuesday, October 22nd. National Bank Financial raised IAMGOLD from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 10th. Finally, Canaccord Genuity Group upgraded IAMGOLD from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. Three 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 company's stock. Based on data from MarketBeat, the company 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.