Renaissance Technologies LLC Lowers Holdings in IAMGOLD Co. (NYSE:IAG)

Renaissance Technologies LLC cut its holdings in shares of IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 4.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,749,400 shares of the mining company's stock after selling 601,296 shares during the quarter. Renaissance Technologies LLC owned about 2.41% of IAMGOLD worth $70,947,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IAG. Tobam acquired a new position in IAMGOLD in the 4th quarter valued at about $25,000. Blue Trust Inc. lifted its holdings in IAMGOLD by 157.1% during the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company's stock worth $47,000 after buying an additional 5,511 shares in the last quarter. Raab & Moskowitz Asset Management LLC purchased a new position in IAMGOLD in the 4th quarter valued at approximately $56,000. Atria Wealth Solutions Inc. acquired a new position in shares of IAMGOLD in the fourth quarter worth $68,000. Finally, Choreo LLC purchased a new stake in shares of IAMGOLD during the fourth quarter worth $88,000. 47.08% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on IAG. StockNews.com lowered IAMGOLD from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. CIBC reiterated an "outperform" rating on shares of IAMGOLD in a research note on Thursday, March 20th. Raymond James reissued a "market perform" rating and set a $8.00 price objective on shares of IAMGOLD in a research report on Friday, April 4th. Scotiabank lifted their price target on shares of IAMGOLD from $6.75 to $7.50 and gave the stock a "sector perform" rating in a research note on Monday. Finally, National Bank Financial raised shares of IAMGOLD to a "strong-buy" rating in a research report on Friday, March 21st. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $7.57.

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IAMGOLD Stock Up 1.1 %

Shares of NYSE:IAG traded up $0.08 during trading on Monday, hitting $7.30. 13,085,530 shares of the company were exchanged, compared to its average volume of 10,011,146. The firm's 50 day moving average price is $6.06 and its 200-day moving average price is $5.66. IAMGOLD Co. has a 12-month low of $3.44 and a 12-month high of $7.42. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. The stock has a market capitalization of $4.18 billion, a P/E ratio of 5.03 and a beta of 1.52.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last announced its quarterly earnings results on Thursday, February 20th. The mining company reported $0.10 earnings per share for the quarter, missing analysts' consensus estimates of $0.15 by ($0.05). The company had revenue of $469.90 million during the quarter, compared to analysts' expectations of $498.68 million. IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. On average, research analysts predict that IAMGOLD Co. will post 0.67 earnings per share for the current fiscal year.

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.