Apollon Wealth Management LLC Acquires New Shares in IAMGOLD Co. (NYSE:IAG)

Apollon Wealth Management LLC bought a new position in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 20,229 shares of the mining company’s stock, valued at approximately $104,000.

Several other large investors also recently modified their holdings of IAG. Tobam bought a new position in shares of IAMGOLD during the 4th quarter valued at about $25,000. Eastern Bank bought a new position in IAMGOLD in the third quarter valued at approximately $30,000. Blue Trust Inc. increased its position 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 in the last quarter. International Assets Investment Management LLC bought a new stake in shares of IAMGOLD during the third quarter worth $700,000. Finally, Choreo LLC bought a new stake in IAMGOLD in the 4th quarter valued at $88,000. 47.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on IAG shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $6.00 target price on shares of IAMGOLD in a report on Tuesday, October 22nd. Cibc World Mkts upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating and boosted their target price for the company from $7.75 to $10.50 in a research note on Tuesday, October 22nd. StockNews.com raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a research note on Thursday, February 6th. Finally, Raymond James raised shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $6.57.

IAMGOLD Price Performance

NYSE:IAG opened at $6.34 on Friday. 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 has a fifty day simple moving average of $5.70 and a 200 day simple moving average of $5.34. IAMGOLD Co. has a 1-year low of $2.38 and a 1-year high of $6.69. The stock has a market capitalization of $3.62 billion, a PE ratio of 4.96 and a beta of 1.56.

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.