IAMGOLD Co. (NYSE:IAG) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC boosted its holdings in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 1,973.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,012,000 shares of the mining company’s stock after buying an additional 963,200 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in IAMGOLD were worth $5,311,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. ORG Partners LLC purchased a new stake in IAMGOLD in the 3rd quarter valued at about $29,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in IAMGOLD by 3.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 306,980 shares of the mining company’s stock valued at $1,154,000 after purchasing an additional 8,972 shares during the period. Continuum Advisory LLC increased its position in IAMGOLD by 92.9% during the second quarter. Continuum Advisory LLC now owns 20,450 shares of the mining company’s stock worth $77,000 after purchasing an additional 9,850 shares during the last quarter. TIAA Trust National Association acquired a new position in IAMGOLD during the second quarter worth approximately $38,000. Finally, WINTON GROUP Ltd purchased a new position in IAMGOLD during the second quarter worth approximately $52,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

IAMGOLD Stock Down 3.7 %

Shares of NYSE:IAG opened at $5.77 on Monday. The company has a 50 day moving average of $5.20 and a two-hundred day moving average of $4.38. IAMGOLD Co. has a 52-week low of $2.11 and a 52-week high of $6.37. The company has a quick ratio of 0.90, a current ratio of 1.34 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $3.28 billion, a price-to-earnings ratio of 20.61 and a beta of 1.59.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.08. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. The firm had revenue of $385.30 million for the quarter. During the same period last year, the firm earned ($0.01) EPS. As a group, analysts forecast that IAMGOLD Co. will post 0.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

IAG has been the subject of several research reports. StockNews.com upgraded IAMGOLD from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $6.00 price objective on shares of IAMGOLD in a research note on Tuesday, October 22nd. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating and boosted their target price for the stock from $7.75 to $10.50 in a report on Tuesday, October 22nd. Finally, Scotiabank raised their price target on shares of IAMGOLD from $4.75 to $5.50 and gave the company a “sector perform” rating in a report on Monday, August 19th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $6.07.

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.