IAMGOLD Co. (NYSE:IAG) Shares Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC increased its position in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 1,002.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 424,452 shares of the mining company’s stock after purchasing an additional 385,955 shares during the period. Cubist Systematic Strategies LLC owned 0.07% of IAMGOLD worth $1,592,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of IAG. Helikon Investments Ltd grew its stake in shares of IAMGOLD by 250.5% during the first quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock worth $109,429,000 after purchasing an additional 23,485,183 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of IAMGOLD by 8.2% during the first quarter. Van ECK Associates Corp now owns 52,053,035 shares of the mining company’s stock worth $173,340,000 after purchasing an additional 3,935,250 shares in the last quarter. Norges Bank acquired a new position in shares of IAMGOLD during the fourth quarter worth $8,642,000. American Century Companies Inc. lifted its position in IAMGOLD by 28.6% in the second quarter. American Century Companies Inc. now owns 5,708,298 shares of the mining company’s stock valued at $21,423,000 after acquiring an additional 1,270,608 shares during the last quarter. Finally, Polunin Capital Partners Ltd lifted its position in IAMGOLD by 12.1% in the first quarter. Polunin Capital Partners Ltd now owns 8,995,059 shares of the mining company’s stock valued at $29,954,000 after acquiring an additional 968,104 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IAG. Scotiabank boosted their price target on shares of IAMGOLD from $4.75 to $5.50 and gave the company a “sector perform” rating in a research report on Monday, August 19th. StockNews.com raised shares of IAMGOLD from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $5.00 target price on shares of IAMGOLD in a report on Thursday, June 6th. Finally, CIBC upped their target price on shares of IAMGOLD from $4.90 to $5.40 and gave the company a “neutral” rating in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, IAMGOLD currently has an average rating of “Hold” and a consensus price target of $4.73.

IAMGOLD Trading Up 2.0 %

NYSE IAG opened at $5.34 on Wednesday. The stock has a market capitalization of $3.04 billion, a P/E ratio of 19.05 and a beta of 1.58. IAMGOLD Co. has a 52-week low of $1.99 and a 52-week high of $5.60. The firm has a 50-day moving average price of $4.79 and a 200 day moving average price of $4.13. The company has a quick ratio of 0.90, a current ratio of 1.34 and a debt-to-equity ratio of 0.30.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.08. The firm had revenue of $385.30 million during the quarter. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. During the same period in the prior year, the company earned ($0.01) earnings per share. Equities research analysts expect that IAMGOLD Co. will post 0.45 EPS for the current 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.