Van ECK Associates Corp Buys 4,267,084 Shares of IAMGOLD Co. (NYSE:IAG)

Van ECK Associates Corp raised its position in IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 8.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,894,690 shares of the mining company's stock after purchasing an additional 4,267,084 shares during the quarter. Van ECK Associates Corp owned 9.29% of IAMGOLD worth $276,639,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of IAG. Millennium Management LLC raised its position in IAMGOLD by 194.2% in the second quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company's stock valued at $29,573,000 after purchasing an additional 5,204,715 shares during the last quarter. Mackenzie Financial Corp raised its position in IAMGOLD by 133.8% in the second quarter. Mackenzie Financial Corp now owns 2,992,780 shares of the mining company's stock valued at $11,246,000 after purchasing an additional 1,712,640 shares during the last quarter. American Century Companies Inc. raised its position in IAMGOLD by 28.6% in the second quarter. American Century Companies Inc. now owns 5,708,298 shares of the mining company's stock valued at $21,423,000 after purchasing an additional 1,270,608 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in IAMGOLD by 1,973.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 1,012,000 shares of the mining company's stock valued at $5,311,000 after purchasing an additional 963,200 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position 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 during the last quarter. 47.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. Scotiabank increased their target price on IAMGOLD from $4.75 to $5.50 and gave the company a "sector perform" rating in a research report on Monday, August 19th. Canaccord Genuity Group raised IAMGOLD from a "hold" rating to a "buy" rating in a research note on Tuesday, October 22nd. StockNews.com raised IAMGOLD from a "sell" rating to a "hold" rating in a research note on Saturday, August 17th. Canaccord Genuity Group raised IAMGOLD from a "hold" rating to a "buy" rating and increased their price target for the company from $7.75 to $10.50 in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $6.00 price target on shares of IAMGOLD in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, IAMGOLD currently has a consensus rating of "Moderate Buy" and a consensus target price of $6.68.

IAMGOLD Trading Down 2.5 %

NYSE IAG traded down $0.14 during trading hours on Friday, hitting $5.40. 6,677,423 shares of the company's stock were exchanged, compared to its average volume of 10,052,197. The stock has a 50-day simple moving average of $5.25 and a 200 day simple moving average of $4.45. IAMGOLD Co. has a 1-year low of $2.11 and a 1-year high of $6.37. The firm has a market cap of $3.08 billion, a price-to-earnings ratio of 21.60 and a beta of 1.57. 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 released its earnings results on Thursday, August 8th. The mining company reported $0.16 EPS for the quarter, topping 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 during the quarter. During the same period in the prior year, the business earned ($0.01) EPS. On average, equities analysts forecast that IAMGOLD Co. will post 0.53 EPS for the current fiscal 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.