Mackenzie Financial Corp Has $11.25 Million Holdings in IAMGOLD Co. (NYSE:IAG)

Mackenzie Financial Corp lifted its stake in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 133.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,992,780 shares of the mining company’s stock after purchasing an additional 1,712,640 shares during the period. Mackenzie Financial Corp owned approximately 0.53% of IAMGOLD worth $11,246,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in IAMGOLD during the 4th quarter worth $8,642,000. TD Asset Management Inc lifted its stake in shares of IAMGOLD by 2.8% during the fourth quarter. TD Asset Management Inc now owns 1,237,660 shares of the mining company’s stock valued at $3,135,000 after acquiring an additional 33,959 shares during the period. CIBC Asset Management Inc boosted its holdings in IAMGOLD by 3.4% in the fourth quarter. CIBC Asset Management Inc now owns 449,918 shares of the mining company’s stock valued at $1,138,000 after acquiring an additional 14,620 shares during the last quarter. P Schoenfeld Asset Management LP increased its position in IAMGOLD by 11.1% in the fourth quarter. P Schoenfeld Asset Management LP now owns 8,234,284 shares of the mining company’s stock worth $20,833,000 after purchasing an additional 822,149 shares during the period. Finally, Helikon Investments Ltd raised its holdings in IAMGOLD by 250.5% during the 1st quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock worth $109,429,000 after purchasing an additional 23,485,183 shares during the last quarter. 47.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on IAG shares. BMO Capital Markets reaffirmed an “outperform” rating and issued a $5.00 target price on shares of IAMGOLD in a research note on Thursday, June 6th. CIBC lifted their target price on shares of IAMGOLD from $4.90 to $5.40 and gave the stock a “neutral” rating in a report on Monday, August 12th. Scotiabank upped their target price on shares of IAMGOLD from $4.75 to $5.50 and gave the company a “sector perform” rating in a research report on Monday, August 19th. Finally, StockNews.com upgraded IAMGOLD from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $4.73.

IAMGOLD Stock Down 4.3 %

Shares of NYSE IAG opened at $5.28 on Monday. IAMGOLD Co. has a 52-week low of $1.99 and a 52-week high of $5.60. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.90 and a current ratio of 1.34. The stock has a market cap of $3.01 billion, a P/E ratio of 18.86 and a beta of 1.58. The firm has a 50 day moving average price of $4.77 and a 200 day moving average price of $4.10.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.08. The company had revenue of $385.30 million during the quarter. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. During the same period last year, the firm earned ($0.01) EPS. Analysts expect that IAMGOLD Co. will post 0.45 EPS 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.