Invesco Ltd. Purchases 2,098,215 Shares of IAMGOLD Co. (NYSE:IAG)

Invesco Ltd. lifted its position in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 41.6% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,139,935 shares of the mining company’s stock after buying an additional 2,098,215 shares during the quarter. Invesco Ltd. owned about 1.25% of IAMGOLD worth $36,842,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cerity Partners LLC acquired a new stake in IAMGOLD in the 4th quarter worth about $303,000. Russell Investments Group Ltd. grew its position in shares of IAMGOLD by 153.1% during the 4th quarter. Russell Investments Group Ltd. now owns 562,937 shares of the mining company’s stock worth $2,906,000 after purchasing an additional 340,535 shares in the last quarter. Donald Smith & CO. Inc. increased its holdings in shares of IAMGOLD by 0.7% during the fourth quarter. Donald Smith & CO. Inc. now owns 31,233,874 shares of the mining company’s stock worth $161,167,000 after purchasing an additional 216,751 shares during the period. Trexquant Investment LP acquired a new stake in shares of IAMGOLD in the fourth quarter valued at approximately $5,968,000. Finally, Geode Capital Management LLC boosted its stake in shares of IAMGOLD by 4.0% in the fourth quarter. Geode Capital Management LLC now owns 274,756 shares of the mining company’s stock valued at $1,435,000 after buying an additional 10,468 shares during the period. Institutional investors own 47.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on IAG. StockNews.com lowered IAMGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Scotiabank raised their price target on IAMGOLD from $6.75 to $7.50 and gave the stock a “sector perform” rating in a research report on Monday. CIBC reaffirmed an “outperform” rating on shares of IAMGOLD in a research report on Thursday, March 20th. Raymond James reissued a “market perform” rating and issued a $8.00 target price on shares of IAMGOLD in a report on Friday, April 4th. Finally, BMO Capital Markets started coverage on shares of IAMGOLD in a report on Wednesday. They set an “outperform” rating for the company. Four analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.57.

IAMGOLD Trading Up 9.1 %

IAG opened at $8.12 on Thursday. The company has a market cap of $4.65 billion, a P/E ratio of 5.60 and a beta of 1.52. 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 company’s 50 day moving average is $6.13 and its 200-day moving average is $5.71. IAMGOLD Co. has a 1-year low of $3.44 and a 1-year high of $8.38.

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

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.