IAMGOLD Co. (NYSE:IAG) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp reduced its position in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 5.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,851,926 shares of the mining company’s stock after selling 3,042,764 shares during the period. Van ECK Associates Corp owned about 8.72% of IAMGOLD worth $257,239,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Tobam purchased a new stake in shares of IAMGOLD during the 4th quarter worth $25,000. ORG Partners LLC purchased a new position in IAMGOLD in the third quarter valued at approximately $29,000. Eastern Bank acquired a new stake in IAMGOLD during the 3rd quarter worth $30,000. Blue Trust Inc. lifted its holdings in shares of IAMGOLD by 157.1% in the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock valued at $47,000 after purchasing an additional 5,511 shares during the last quarter. Finally, Choreo LLC acquired a new stake in shares of IAMGOLD in the fourth quarter valued at approximately $88,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on IAG shares. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating and raised their price target for the stock from $7.75 to $10.50 in a report on Tuesday, October 22nd. Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. CIBC upgraded shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday, December 2nd. Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $6.00 target price on shares of IAMGOLD in a research note on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.57.

IAMGOLD Trading Up 3.4 %

NYSE:IAG opened at $6.60 on Thursday. The stock has a fifty day simple moving average of $5.65 and a 200 day simple moving average of $5.30. IAMGOLD Co. has a 1-year low of $2.32 and a 1-year high of $6.69. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $3.77 billion, a price-to-earnings ratio of 5.16 and a beta of 1.56.

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.