Geode Capital Management LLC Grows Stock Holdings in IAMGOLD Co. (NYSE:IAG)

Geode Capital Management LLC grew its stake in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 264,288 shares of the mining company’s stock after acquiring an additional 6,874 shares during the period. Geode Capital Management LLC’s holdings in IAMGOLD were worth $1,392,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. ORG Partners LLC bought a new position in IAMGOLD in the 3rd quarter valued at $29,000. Eastern Bank purchased a new stake in shares of IAMGOLD in the third quarter worth $30,000. Aigen Investment Management LP boosted its stake in IAMGOLD by 10.6% during the third quarter. Aigen Investment Management LP now owns 70,244 shares of the mining company’s stock valued at $368,000 after buying an additional 6,704 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in IAMGOLD by 3.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 306,980 shares of the mining company’s stock worth $1,154,000 after buying an additional 8,972 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in IAMGOLD by 10.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 109,558 shares of the mining company’s stock worth $575,000 after acquiring an additional 10,715 shares during the last quarter. 47.08% of the stock is owned by institutional investors.

IAMGOLD Trading Up 3.5 %

Shares of IAG opened at $5.67 on Friday. IAMGOLD Co. has a 1-year low of $2.23 and a 1-year high of $6.37. 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 firm’s 50-day moving average price is $5.37 and its 200-day moving average price is $4.96. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 4.43 and a beta of 1.56.

Analysts Set New Price Targets

A number of analysts have recently issued reports on IAG shares. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating and boosted their price target for the stock from $7.75 to $10.50 in a research note on Tuesday, October 22nd. Royal Bank of Canada restated a “sector perform” rating and set a $6.00 price objective on shares of IAMGOLD in a research report on Tuesday, October 22nd. Finally, CIBC upgraded shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, IAMGOLD currently has a consensus rating of “Moderate Buy” and an average price target of $6.68.

IAMGOLD 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.