Intact Investment Management Inc. Acquires 1,675,440 Shares of IAMGOLD Co. (NYSE:IAG)

Intact Investment Management Inc. lifted its holdings in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 158.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,733,450 shares of the mining company’s stock after buying an additional 1,675,440 shares during the quarter. Intact Investment Management Inc.’s holdings in IAMGOLD were worth $14,127,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in IAG. GSA Capital Partners LLP bought a new position in shares of IAMGOLD in the third quarter worth about $296,000. Aigen Investment Management LP boosted its stake in shares of IAMGOLD by 10.6% in the third quarter. Aigen Investment Management LP now owns 70,244 shares of the mining company’s stock worth $368,000 after acquiring an additional 6,704 shares during the period. CIBC Asset Management Inc boosted its stake in shares of IAMGOLD by 2.6% in the third quarter. CIBC Asset Management Inc now owns 698,107 shares of the mining company’s stock worth $3,661,000 after acquiring an additional 17,608 shares during the period. PCJ Investment Counsel Ltd. boosted its stake in shares of IAMGOLD by 213.1% in the third quarter. PCJ Investment Counsel Ltd. now owns 942,900 shares of the mining company’s stock worth $4,942,000 after acquiring an additional 641,750 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of IAMGOLD by 158.1% in 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 acquiring an additional 2,839,556 shares during the period. Institutional investors own 47.08% of the company’s stock.

IAMGOLD Trading Up 1.1 %

Shares of IAG stock opened at $5.78 on Friday. IAMGOLD Co. has a 1 year low of $2.90 and a 1 year high of $6.69. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. The stock’s 50 day simple moving average is $5.87 and its two-hundred day simple moving average is $5.49. The company has a market cap of $3.30 billion, a PE ratio of 3.98 and a beta of 1.63.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Thursday, February 20th. The mining company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. The company had revenue of $469.90 million for the quarter, compared to analysts’ expectations of $498.68 million. Research analysts predict that IAMGOLD Co. will post 0.67 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently commented on IAG shares. StockNews.com lowered IAMGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Raymond James raised IAMGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, February 3rd. Finally, CIBC raised IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research note on Monday, December 2nd. Four research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target 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.