Bank of New York Mellon Corp Purchases 3,961 Shares of IAMGOLD Co. (NYSE:IAG)

Bank of New York Mellon Corp lifted its position in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 12.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 35,046 shares of the mining company’s stock after acquiring an additional 3,961 shares during the period. Bank of New York Mellon Corp’s holdings in IAMGOLD were worth $181,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Y Intercept Hong Kong Ltd acquired a new stake in shares of IAMGOLD in the fourth quarter valued at approximately $174,000. Leuthold Group LLC increased its stake in IAMGOLD by 55.4% during the 4th quarter. Leuthold Group LLC now owns 876,813 shares of the mining company’s stock worth $4,524,000 after acquiring an additional 312,504 shares during the period. Atria Wealth Solutions Inc. acquired a new position in IAMGOLD in the 4th quarter valued at $68,000. CIBC Asset Management Inc lifted its position in shares of IAMGOLD by 0.4% during the 4th quarter. CIBC Asset Management Inc now owns 700,955 shares of the mining company’s stock valued at $3,615,000 after acquiring an additional 2,848 shares during the period. Finally, Raab & Moskowitz Asset Management LLC acquired a new stake in shares of IAMGOLD during the 4th quarter worth $56,000. Institutional investors own 47.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on IAG shares. CIBC reaffirmed an “outperform” rating on shares of IAMGOLD in a research note on Thursday, March 20th. National Bank Financial upgraded shares of IAMGOLD to a “strong-buy” rating in a research report on Friday, March 21st. Raymond James upgraded shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, February 3rd. Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Finally, StockNews.com downgraded IAMGOLD from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Four analysts have rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $6.90.

IAMGOLD Stock Performance

Shares of IAMGOLD stock opened at $6.29 on Friday. The company’s 50 day moving average price is $5.99 and its two-hundred day moving average price is $5.59. The firm has a market capitalization of $3.60 billion, a P/E ratio of 4.33 and a beta of 1.63. IAMGOLD Co. has a fifty-two week low of $3.44 and a fifty-two week 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.

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

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.