International Assets Investment Management LLC Makes New Investment in IAMGOLD Co. (NYSE:IAG)

International Assets Investment Management LLC bought a new position in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 13,352 shares of the mining company’s stock, valued at approximately $700,000.

A number of other large investors have also added to or reduced their stakes in the stock. ORG Partners LLC bought a new stake in IAMGOLD in the 3rd quarter worth approximately $29,000. Eastern Bank bought a new stake in IAMGOLD in the 3rd quarter worth approximately $30,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in IAMGOLD by 3.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 306,980 shares of the mining company’s stock worth $1,154,000 after purchasing an additional 8,972 shares during the period. Continuum Advisory LLC grew its position in IAMGOLD by 92.9% in the 2nd quarter. Continuum Advisory LLC now owns 20,450 shares of the mining company’s stock worth $77,000 after purchasing an additional 9,850 shares during the period. Finally, TIAA Trust National Association bought a new stake in IAMGOLD in the 2nd quarter worth approximately $38,000. Institutional investors own 47.08% of the company’s stock.

IAMGOLD Stock Up 0.8 %

IAG opened at $5.33 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.90 and a current ratio of 1.34. IAMGOLD Co. has a fifty-two week low of $2.11 and a fifty-two week high of $6.37. The firm’s fifty day moving average is $5.25 and its 200 day moving average is $4.48. The stock has a market cap of $3.04 billion, a price-to-earnings ratio of 21.32 and a beta of 1.57.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. The company had revenue of $385.30 million for the quarter. During the same quarter last year, the firm posted ($0.01) EPS. On average, sell-side analysts forecast that IAMGOLD Co. will post 0.53 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating and boosted their price objective for the company from $7.75 to $10.50 in a research report on Tuesday, October 22nd. CIBC boosted their price objective on shares of IAMGOLD from $5.40 to $6.40 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Scotiabank boosted their price objective 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. Finally, StockNews.com raised shares of IAMGOLD from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $6.68.

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.