PCJ Investment Counsel Ltd. Has $4.94 Million Stock Holdings in IAMGOLD Co. (NYSE:IAG)

PCJ Investment Counsel Ltd. grew its stake in shares of IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 213.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 942,900 shares of the mining company's stock after purchasing an additional 641,750 shares during the period. IAMGOLD comprises about 1.6% of PCJ Investment Counsel Ltd.'s holdings, making the stock its 19th biggest holding. PCJ Investment Counsel Ltd. owned 0.17% of IAMGOLD worth $4,942,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. CIBC Asset Management Inc grew its stake in IAMGOLD by 2.6% in the third quarter. CIBC Asset Management Inc now owns 698,107 shares of the mining company's stock valued at $3,661,000 after acquiring an additional 17,608 shares during the period. Aigen Investment Management LP boosted its stake in shares of IAMGOLD by 10.6% in the 3rd quarter. Aigen Investment Management LP now owns 70,244 shares of the mining company's stock worth $368,000 after buying an additional 6,704 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in IAMGOLD during the third quarter valued at about $296,000. Van ECK Associates Corp increased its position in shares of IAMGOLD by 8.8% during the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company's stock valued at $276,639,000 after acquiring an additional 4,267,084 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC purchased a new position in shares of IAMGOLD during the 3rd quarter worth $231,000. Institutional investors and hedge funds own 47.08% of the company's stock.

IAMGOLD Price Performance

Shares of IAMGOLD stock traded up $0.01 during trading hours on Wednesday, reaching $5.55. The stock had a trading volume of 4,571,163 shares, compared to its average volume of 9,045,661. 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 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The stock's 50 day moving average is $5.32 and its 200 day moving average is $4.59. The firm has a market capitalization of $3.17 billion, a PE ratio of 4.32 and a beta of 1.57.

Analysts Set New Price Targets

IAG has been the subject of several research reports. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $6.00 price target on shares of IAMGOLD in a research report on Tuesday, October 22nd. Canaccord Genuity Group upgraded shares of IAMGOLD from a "hold" rating to a "buy" rating in a report on Tuesday, October 22nd. StockNews.com upgraded shares of IAMGOLD from a "hold" rating to a "buy" rating in a research note on Monday, November 11th. National Bank Financial upgraded shares of IAMGOLD from a "sector perform" rating to an "outperform" rating in a research report on Thursday, October 10th. Finally, Scotiabank upped their target price on IAMGOLD from $4.75 to $5.50 and gave the stock a "sector perform" rating in a research report on Monday, August 19th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $6.68.

About IAMGOLD

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.