IAMGOLD Co. (NYSE:IAG) Position Raised by Triasima Portfolio Management inc.

Triasima Portfolio Management inc. raised its stake in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 44.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 352,315 shares of the mining company’s stock after buying an additional 108,524 shares during the quarter. Triasima Portfolio Management inc. owned approximately 0.06% of IAMGOLD worth $1,820,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Tobam acquired a new position in shares of IAMGOLD during the fourth quarter valued at $25,000. ORG Partners LLC acquired a new position in shares of IAMGOLD during the third quarter valued at $29,000. Eastern Bank acquired a new position in shares of IAMGOLD during the third quarter valued at $30,000. Blue Trust Inc. increased its holdings in shares of IAMGOLD by 157.1% during the fourth 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 period. Finally, International Assets Investment Management LLC acquired a new position in shares of IAMGOLD during the third quarter valued at $700,000. 47.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on IAG. Royal Bank of Canada reissued a “sector perform” rating and set a $6.00 price target on shares of IAMGOLD in a report on Tuesday, October 22nd. CIBC raised IAMGOLD from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 2nd. Raymond James raised IAMGOLD from a “strong sell” rating to a “hold” rating in a report on Monday. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating and lifted their target price for the stock from $7.75 to $10.50 in a report on Tuesday, October 22nd. Finally, Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $6.57.

IAMGOLD Trading Down 0.4 %

Shares of IAG opened at $6.46 on Friday. The business’s 50-day moving average price is $5.57 and its 200 day moving average price is $5.22. The stock has a market capitalization of $3.69 billion, a P/E ratio of 5.04 and a beta of 1.56. IAMGOLD Co. has a 1-year low of $2.32 and a 1-year high of $6.64. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Thursday, November 7th. The mining company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. The firm had revenue of $438.90 million for the quarter. IAMGOLD had a return on equity of 10.01% and a net margin of 49.56%. During the same period in the prior year, the business posted ($0.01) EPS. Analysts expect that IAMGOLD Co. will post 0.58 earnings per share for the current 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.