Geode Capital Management LLC Buys 6,874 Shares of IAMGOLD Co. (NYSE:IAG)

Geode Capital Management LLC grew its stake in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 2.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 264,288 shares of the mining company’s stock after acquiring an additional 6,874 shares during the quarter. Geode Capital Management LLC’s holdings in IAMGOLD were worth $1,392,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of IAG. BNP Paribas Financial Markets raised its holdings in IAMGOLD by 368.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,521,670 shares of the mining company’s stock worth $7,772,000 after acquiring an additional 1,196,564 shares during the last quarter. Semanteon Capital Management LP bought a new position in IAMGOLD during the 3rd quarter valued at about $503,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of IAMGOLD by 158.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company’s stock valued at $24,301,000 after acquiring an additional 2,839,556 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of IAMGOLD by 8.8% in the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock worth $276,639,000 after acquiring an additional 4,267,084 shares during the period. Finally, U S Global Investors Inc. raised its holdings in shares of IAMGOLD by 241.6% during the third quarter. U S Global Investors Inc. now owns 854,114 shares of the mining company’s stock valued at $4,467,000 after purchasing an additional 604,114 shares during the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently issued reports on IAG shares. StockNews.com cut shares of IAMGOLD from a “buy” rating to a “hold” rating in a report on Wednesday, January 1st. Royal Bank of Canada restated a “sector perform” rating and issued a $6.00 price target on shares of IAMGOLD in a research note on Tuesday, October 22nd. Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Finally, Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating and boosted their price target for the company from $7.75 to $10.50 in a research note on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $6.68.

IAMGOLD Price Performance

Shares of IAMGOLD stock opened at $5.67 on Friday. The stock has a market cap of $3.24 billion, a P/E ratio of 4.43 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 fifty day moving average is $5.37 and its 200 day moving average is $4.96. IAMGOLD Co. has a one year low of $2.23 and a one year high of $6.37.

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.