Apollon Wealth Management LLC Acquires Shares of 20,229 IAMGOLD Co. (NYSE:IAG)

Apollon Wealth Management LLC bought a new position in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 20,229 shares of the mining company’s stock, valued at approximately $104,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Tobam bought a new stake in IAMGOLD in the 4th quarter valued at $25,000. Eastern Bank bought a new position in shares of IAMGOLD in the third quarter valued at about $30,000. Blue Trust Inc. raised its position in shares of IAMGOLD by 157.1% in 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 during the period. International Assets Investment Management LLC bought a new stake in shares of IAMGOLD during the 3rd quarter worth about $700,000. Finally, Choreo LLC bought a new stake in shares of IAMGOLD during the 4th quarter worth about $88,000. 47.08% of the stock is currently owned by institutional investors.

IAMGOLD Stock Performance

NYSE:IAG opened at $6.34 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. IAMGOLD Co. has a fifty-two week low of $2.38 and a fifty-two week high of $6.69. The company has a market cap of $3.62 billion, a price-to-earnings ratio of 4.96 and a beta of 1.56. The stock has a fifty day moving average price of $5.70 and a 200-day moving average price of $5.34.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. StockNews.com raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a report on Thursday, February 6th. Raymond James upgraded IAMGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, February 3rd. CIBC upgraded IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research note on Monday, December 2nd. Cibc World Mkts upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $6.57.

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.