IAMGOLD Co. (NYSE:IAG) Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its stake in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 3.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 471,617 shares of the mining company’s stock after purchasing an additional 17,891 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in IAMGOLD were worth $2,474,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Semanteon Capital Management LP purchased a new stake in shares of IAMGOLD during the 3rd quarter worth about $503,000. Connor Clark & Lunn Investment Management Ltd. grew its stake in IAMGOLD by 158.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company’s stock worth $24,301,000 after buying an additional 2,839,556 shares during the period. Van ECK Associates Corp increased its position 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 in the last quarter. U S Global Investors Inc. raised its stake in shares of IAMGOLD by 241.6% in the 3rd quarter. U S Global Investors Inc. now owns 854,114 shares of the mining company’s stock valued at $4,467,000 after acquiring an additional 604,114 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of IAMGOLD by 1,973.8% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,012,000 shares of the mining company’s stock valued at $5,311,000 after acquiring an additional 963,200 shares in the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on IAG. National Bank Financial upgraded IAMGOLD from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Cibc World Mkts upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. StockNews.com upgraded IAMGOLD from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Finally, Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating and increased their price objective for the company from $7.75 to $10.50 in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.68.

IAMGOLD Stock Performance

Shares of IAG opened at $5.35 on Monday. 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 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 4.18 and a beta of 1.56. The business’s 50 day moving average is $5.36 and its two-hundred day moving average is $4.71.

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.