CIBC Asset Management Inc Buys 2,848 Shares of IAMGOLD Co. (NYSE:IAG)

CIBC Asset Management Inc boosted its stake in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 700,955 shares of the mining company’s stock after purchasing an additional 2,848 shares during the period. CIBC Asset Management Inc’s holdings in IAMGOLD were worth $3,615,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Raab & Moskowitz Asset Management LLC bought a new position in shares of IAMGOLD during the fourth quarter valued at $56,000. Allspring Global Investments Holdings LLC raised its stake in shares of IAMGOLD by 27.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,289,000 shares of the mining company’s stock valued at $6,654,000 after acquiring an additional 277,000 shares during the last quarter. Apollon Wealth Management LLC bought a new position in shares of IAMGOLD during the fourth quarter valued at $104,000. Triasima Portfolio Management inc. raised its stake in shares of IAMGOLD by 44.5% during the fourth quarter. Triasima Portfolio Management inc. now owns 352,315 shares of the mining company’s stock valued at $1,820,000 after acquiring an additional 108,524 shares during the last quarter. Finally, Tobam bought a new position in shares of IAMGOLD during the fourth quarter valued at $25,000. Institutional investors own 47.08% of the company’s stock.

IAMGOLD Trading Up 1.5 %

NYSE:IAG opened at $6.32 on Friday. 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 stock has a market capitalization of $3.61 billion, a price-to-earnings ratio of 4.93 and a beta of 1.56. The firm has a fifty day simple moving average of $5.76 and a two-hundred day simple moving average of $5.39. IAMGOLD Co. has a 12 month low of $2.48 and a 12 month high of $6.69.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Thursday, February 20th. The mining company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). IAMGOLD had a return on equity of 10.01% and a net margin of 49.56%. Analysts expect that IAMGOLD Co. will post 0.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Raymond James upgraded shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, February 3rd. StockNews.com upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. Finally, CIBC upgraded shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, IAMGOLD presently has an average rating of “Moderate Buy” and a consensus target price of $6.57.

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.