Semanteon Capital Management LP Buys New Shares in IAMGOLD Co. (NYSE:IAG)

Semanteon Capital Management LP bought a new position in IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 96,092 shares of the mining company's stock, valued at approximately $503,000.

A number of other institutional investors and hedge funds have also modified their holdings of IAG. Millennium Management LLC increased its stake in IAMGOLD by 194.2% in the 2nd quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company's stock valued at $29,573,000 after buying an additional 5,204,715 shares during the period. Mackenzie Financial Corp increased its stake in shares of IAMGOLD by 133.8% in the second quarter. Mackenzie Financial Corp now owns 2,992,780 shares of the mining company's stock worth $11,246,000 after acquiring an additional 1,712,640 shares during the last quarter. American Century Companies Inc. increased its stake in shares of IAMGOLD by 28.6% in the second quarter. American Century Companies Inc. now owns 5,708,298 shares of the mining company's stock worth $21,423,000 after acquiring an additional 1,270,608 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of IAMGOLD by 1,973.8% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,012,000 shares of the mining company's stock worth $5,311,000 after acquiring an additional 963,200 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in IAMGOLD by 18.8% during 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 during the last quarter. Hedge funds and other institutional investors own 47.08% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on IAG shares. StockNews.com raised IAMGOLD from a "sell" rating to a "hold" rating in a research note on Saturday, August 17th. Canaccord Genuity Group raised shares of IAMGOLD from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. Scotiabank boosted their target price 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. Canaccord Genuity Group upgraded shares of IAMGOLD from a "hold" rating to a "buy" rating and raised their price target for the company from $7.75 to $10.50 in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $6.00 price objective on shares of IAMGOLD in a report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $6.07.

IAMGOLD Stock Performance

IAMGOLD stock traded up $0.12 on Tuesday, reaching $5.77. 6,214,931 shares of the stock were exchanged, compared to its average volume of 9,136,130. The stock has a market cap of $3.28 billion, a PE ratio of 20.18 and a beta of 1.59. The firm has a fifty day moving average price of $5.22 and a two-hundred day moving average price of $4.40. 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.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last announced its earnings results 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 firm had revenue of $385.30 million during the quarter. During the same quarter in the previous year, the company earned ($0.01) EPS. Sell-side analysts anticipate that IAMGOLD Co. will post 0.51 EPS for the current year.

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.