Verition Fund Management LLC Purchases New Position in IAMGOLD Co. (NYSE:IAG)

Verition Fund Management LLC acquired a new position in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 21,888 shares of the mining company’s stock, valued at approximately $114,000.

A number of other institutional investors also recently made changes to their positions in the company. ORG Partners LLC bought a new position in IAMGOLD during the third quarter worth about $29,000. Eastern Bank bought a new stake in shares of IAMGOLD in the third quarter valued at approximately $30,000. TIAA Trust National Association bought a new position in IAMGOLD during the 2nd quarter worth $38,000. Cetera Advisors LLC acquired a new position in IAMGOLD in the 1st quarter valued at $50,000. Finally, WINTON GROUP Ltd bought a new stake in shares of IAMGOLD during the 2nd quarter valued at $52,000. Institutional investors own 47.08% of the company’s stock.

IAMGOLD Price Performance

IAMGOLD stock opened at $5.32 on Tuesday. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The business’s 50 day simple moving average is $5.39 and its 200 day simple moving average is $4.77. IAMGOLD Co. has a 12 month low of $2.23 and a 12 month high of $6.37. The company has a market cap of $3.04 billion, a price-to-earnings ratio of 4.18 and a beta of 1.56.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. StockNews.com upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a research report on Monday, November 11th. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating and boosted their price target for the stock from $7.75 to $10.50 in a report on Tuesday, October 22nd. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. CIBC raised shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 2nd. Finally, National Bank Financial raised shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Two equities research 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. According to MarketBeat, IAMGOLD currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.68.

IAMGOLD Company 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.