Russell Investments Group Ltd. Buys 340,535 Shares of IAMGOLD Co. (NYSE:IAG)

Russell Investments Group Ltd. raised its stake in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 153.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 562,937 shares of the mining company’s stock after buying an additional 340,535 shares during the period. Russell Investments Group Ltd.’s holdings in IAMGOLD were worth $2,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Tobam bought a new stake in shares of IAMGOLD during the 4th quarter worth about $25,000. Blue Trust Inc. boosted its holdings in shares of IAMGOLD by 157.1% during the fourth quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock worth $47,000 after acquiring an additional 5,511 shares during the period. Raab & Moskowitz Asset Management LLC acquired a new position in shares of IAMGOLD in the fourth quarter valued at approximately $56,000. Atria Wealth Solutions Inc. bought a new position in shares of IAMGOLD during the fourth quarter worth approximately $68,000. Finally, Choreo LLC acquired a new stake in IAMGOLD during the 4th quarter worth approximately $88,000. 47.08% of the stock is owned by institutional investors.

IAMGOLD Stock Performance

Shares of NYSE:IAG opened at $7.82 on Friday. The company’s 50 day simple moving average is $6.16 and its 200 day simple moving average is $5.72. 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 Co. has a 1 year low of $3.44 and a 1 year high of $8.38. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 5.39 and a beta of 1.52.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced 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). The business had revenue of $469.90 million for the quarter, compared to the consensus estimate of $498.68 million. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. As a group, research analysts predict that IAMGOLD Co. will post 0.67 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on IAG shares. StockNews.com lowered IAMGOLD from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Scotiabank upped their price target on shares of IAMGOLD from $6.75 to $7.50 and gave the company a “sector perform” rating in a research note on Monday. CIBC reiterated an “outperform” rating on shares of IAMGOLD in a research note on Thursday, March 20th. Raymond James restated a “market perform” rating and set a $8.00 target price on shares of IAMGOLD in a research report on Friday, April 4th. Finally, National Bank Financial raised shares of IAMGOLD to a “strong-buy” rating in a report on Friday, March 21st. Four analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $7.57.

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.