Allspring Global Investments Holdings LLC Purchases 277,000 Shares of IAMGOLD Co. (NYSE:IAG)

Allspring Global Investments Holdings LLC lifted its position in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 27.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,289,000 shares of the mining company’s stock after acquiring an additional 277,000 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.23% of IAMGOLD worth $6,654,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in IAG. BNP Paribas Financial Markets boosted its holdings in shares of IAMGOLD by 368.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,521,670 shares of the mining company’s stock valued at $7,772,000 after acquiring an additional 1,196,564 shares during the last quarter. Semanteon Capital Management LP bought a new position in IAMGOLD in the third quarter worth approximately $503,000. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of IAMGOLD by 158.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company’s stock worth $24,301,000 after acquiring an additional 2,839,556 shares during the last quarter. Van ECK Associates Corp grew its holdings in IAMGOLD by 8.8% during the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock valued at $276,639,000 after purchasing an additional 4,267,084 shares during the period. Finally, Cibc World Market Inc. lifted its position in shares of IAMGOLD by 54.0% during the 4th quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company’s stock valued at $26,452,000 after buying an additional 1,795,869 shares in the last quarter. Institutional investors own 47.08% of the company’s stock.

IAMGOLD Trading Down 2.6 %

NYSE:IAG opened at $6.21 on Thursday. The firm has a market cap of $3.55 billion, a P/E ratio of 4.85 and a beta of 1.56. The firm has a 50-day simple moving average of $5.74 and a 200-day simple moving average of $5.39. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. IAMGOLD Co. has a one year low of $2.48 and a one year high of $6.69.

Analysts Set New Price Targets

A number of research firms recently weighed in on IAG. Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. StockNews.com upgraded IAMGOLD from a “hold” rating to a “buy” rating in a research report on Thursday, February 6th. CIBC upgraded IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday, December 2nd. Finally, Raymond James raised shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, February 3rd. Three 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 company. According to MarketBeat, IAMGOLD currently has an average rating of “Moderate Buy” and a consensus target price of $6.57.

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.