Synergy Asset Management LLC Purchases 27,262 Shares of IAMGOLD Co. (NYSE:IAG)

Synergy Asset Management LLC boosted its holdings in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 117.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 50,499 shares of the mining company’s stock after acquiring an additional 27,262 shares during the period. Synergy Asset Management LLC’s holdings in IAMGOLD were worth $274,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of IAG. Blue Trust Inc. boosted its position in 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 in the last quarter. ORG Partners LLC bought a new stake in shares of IAMGOLD in the 3rd quarter valued at about $29,000. Eastern Bank purchased a new position in shares of IAMGOLD in the 3rd quarter worth approximately $30,000. Aigen Investment Management LP raised its stake in shares of IAMGOLD by 10.6% during the 3rd quarter. Aigen Investment Management LP now owns 70,244 shares of the mining company’s stock worth $368,000 after acquiring an additional 6,704 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in IAMGOLD by 2.7% during the third quarter. Geode Capital Management LLC now owns 264,288 shares of the mining company’s stock valued at $1,392,000 after acquiring an additional 6,874 shares during the last quarter. Institutional investors own 47.08% of the company’s stock.

IAMGOLD Stock Performance

IAG opened at $6.29 on Friday. 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 Co. has a 12-month low of $2.32 and a 12-month high of $6.37. The firm has a 50 day moving average of $5.49 and a two-hundred day moving average of $5.14. The firm has a market capitalization of $3.59 billion, a PE ratio of 4.91 and a beta of 1.56.

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

Wall Street Analyst Weigh In

Several analysts have recently commented on IAG shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $6.00 price objective on shares of IAMGOLD in a report on Tuesday, October 22nd. Cibc World Mkts upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Raymond James dropped their price target on IAMGOLD from $6.50 to $6.00 and set an “underperform” rating on the stock in a research note on Wednesday, January 15th. National Bank Financial raised shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Finally, Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating and boosted their target price for the stock from $7.75 to $10.50 in a research report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $6.57.

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.