Allspring Global Investments Holdings LLC Acquires 963,200 Shares of IAMGOLD Co. (NYSE:IAG)

Allspring Global Investments Holdings LLC raised its stake in IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 1,973.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,012,000 shares of the mining company's stock after acquiring an additional 963,200 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.18% of IAMGOLD worth $5,311,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. ORG Partners LLC bought a new position in shares of IAMGOLD in the third quarter worth about $29,000. TIAA Trust National Association bought a new position in IAMGOLD in the 2nd quarter valued at approximately $38,000. WINTON GROUP Ltd bought a new position in IAMGOLD in the 2nd quarter valued at approximately $52,000. Banque Cantonale Vaudoise bought a new position in IAMGOLD in the 2nd quarter valued at approximately $56,000. Finally, Cetera Advisors LLC bought a new position in IAMGOLD in the 1st quarter valued at approximately $50,000. Institutional investors own 47.08% of the company's stock.

IAMGOLD Stock Down 2.1 %

NYSE IAG traded down $0.12 during mid-day trading on Monday, hitting $5.65. The company's stock had a trading volume of 4,945,718 shares, compared to its average volume of 9,150,165. The company's 50 day simple moving average is $5.20 and its 200 day simple moving average is $4.38. IAMGOLD Co. has a twelve month low of $2.11 and a twelve month high of $6.37. The company has a current ratio of 1.34, a quick ratio of 0.90 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 20.18 and a beta of 1.59.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last issued its quarterly earnings data on Thursday, August 8th. The mining company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.08. IAMGOLD had a return on equity of 6.70% and a net margin of 10.36%. The business had revenue of $385.30 million for the quarter. During the same quarter last year, the business posted ($0.01) earnings per share. Analysts anticipate that IAMGOLD Co. will post 0.51 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on IAG. Canaccord Genuity Group upgraded shares of IAMGOLD from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. CIBC raised their price target on shares of IAMGOLD from $5.40 to $6.40 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. 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 target on shares of IAMGOLD in a report on Tuesday, October 22nd. Finally, Scotiabank raised their price objective on shares of IAMGOLD from $4.75 to $5.50 and gave the stock a "sector perform" rating in a research report on Monday, August 19th. One research 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. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $6.07.

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.