Fmr LLC Has $46.17 Million Stock Holdings in IAMGOLD Co. (NYSE:IAG)

Fmr LLC boosted its holdings in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 107.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,819,600 shares of the mining company’s stock after buying an additional 4,577,599 shares during the period. Fmr LLC’s holdings in IAMGOLD were worth $46,174,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Millennium Management LLC grew its stake in IAMGOLD by 194.2% during the 2nd quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company’s stock valued at $29,573,000 after acquiring an additional 5,204,715 shares in the last quarter. Van ECK Associates Corp grew its position in IAMGOLD by 8.8% during the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock valued at $276,639,000 after purchasing an additional 4,267,084 shares in the last quarter. Bank of Montreal Can increased its stake in IAMGOLD by 130.6% in the 3rd quarter. Bank of Montreal Can now owns 5,384,778 shares of the mining company’s stock valued at $28,385,000 after buying an additional 3,049,252 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in IAMGOLD by 158.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company’s stock worth $24,301,000 after buying an additional 2,839,556 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in shares of IAMGOLD by 133.8% during the 2nd quarter. Mackenzie Financial Corp now owns 2,992,780 shares of the mining company’s stock valued at $11,246,000 after buying an additional 1,712,640 shares during the period. 47.08% of the stock is owned by hedge funds and other institutional investors.

IAMGOLD Stock Down 4.3 %

Shares of IAG stock opened at $5.35 on Friday. The company has a market capitalization of $3.06 billion, a price-to-earnings ratio of 4.18 and a beta of 1.56. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. The stock’s 50 day simple moving average is $5.36 and its 200 day simple moving average is $4.70. IAMGOLD Co. has a twelve month low of $2.11 and a twelve month high of $6.37.

Analysts Set New Price Targets

IAG has been the topic of a number of research reports. CIBC raised shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research note on Monday, December 2nd. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $6.00 price objective on shares of IAMGOLD in a research report on Tuesday, October 22nd. Finally, National Bank Financial upgraded shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, IAMGOLD presently has an average rating of “Moderate Buy” and a consensus target price of $6.68.

IAMGOLD Profile

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.