U S Global Investors Inc. Purchases 604,114 Shares of IAMGOLD Co. (NYSE:IAG)

U S Global Investors Inc. boosted its position in shares of IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 241.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 854,114 shares of the mining company's stock after purchasing an additional 604,114 shares during the period. U S Global Investors Inc. owned about 0.15% of IAMGOLD worth $4,467,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Van ECK Associates Corp grew its position in shares of IAMGOLD by 8.2% during the 1st quarter. Van ECK Associates Corp now owns 52,053,035 shares of the mining company's stock worth $173,340,000 after buying an additional 3,935,250 shares during the period. Donald Smith & CO. Inc. grew its position in shares of IAMGOLD by 0.8% during the 1st quarter. Donald Smith & CO. Inc. now owns 36,077,268 shares of the mining company's stock worth $120,137,000 after buying an additional 298,959 shares during the period. Helikon Investments Ltd grew its position in shares of IAMGOLD by 250.5% during the 1st quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company's stock worth $109,429,000 after buying an additional 23,485,183 shares during the period. Vanguard Group Inc. grew its position in shares of IAMGOLD by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company's stock worth $58,871,000 after buying an additional 168,302 shares during the period. Finally, Millennium Management LLC grew its position in shares of IAMGOLD by 194.2% during the 2nd quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company's stock worth $29,573,000 after buying an additional 5,204,715 shares during the period. 47.08% of the stock is owned by institutional investors.

IAMGOLD Stock Down 0.7 %

IAG traded down $0.04 during trading on Tuesday, reaching $6.11. The company had a trading volume of 10,049,531 shares, compared to its average volume of 9,177,287. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.34 and a quick ratio of 0.90. IAMGOLD Co. has a 12 month low of $2.11 and a 12 month high of $6.37. The business's fifty day moving average price is $5.12 and its 200 day moving average price is $4.32. The company has a market cap of $3.48 billion, a P/E ratio of 21.82 and a beta of 1.59.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last announced its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.08. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. The firm had revenue of $385.30 million for the quarter. During the same period in the previous year, the firm posted ($0.01) EPS. Equities analysts anticipate that IAMGOLD Co. will post 0.49 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. CIBC boosted their price objective on shares of IAMGOLD from $5.40 to $6.40 and gave the company a "neutral" rating in a report on Tuesday. National Bank Financial upgraded shares of IAMGOLD from a "sector perform" rating to an "outperform" rating in a report on Thursday, October 10th. Royal Bank of Canada restated a "sector perform" rating and set a $6.00 price objective on shares of IAMGOLD in a report on Tuesday. StockNews.com upgraded shares of IAMGOLD from a "sell" rating to a "hold" rating in a report on Saturday, August 17th. Finally, Canaccord Genuity Group upgraded shares of IAMGOLD from a "hold" rating to a "buy" rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $6.07.

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.