Connor Clark & Lunn Investment Management Ltd. Boosts Stock Holdings in IAMGOLD Co. (NYSE:IAG)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 158.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,636,087 shares of the mining company’s stock after buying an additional 2,839,556 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.81% of IAMGOLD worth $24,301,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. ORG Partners LLC purchased a new position in IAMGOLD in the 3rd quarter worth approximately $29,000. Eastern Bank bought a new stake in IAMGOLD during the 3rd quarter valued at $30,000. TIAA Trust National Association purchased a new stake in IAMGOLD during the 2nd quarter valued at $38,000. Cetera Advisors LLC purchased a new stake in IAMGOLD during the 1st quarter valued at $50,000. Finally, WINTON GROUP Ltd bought a new stake in IAMGOLD in the 2nd quarter worth $52,000. Institutional investors own 47.08% of the company’s stock.

IAMGOLD Stock Performance

Shares of IAG stock opened at $5.58 on Thursday. IAMGOLD Co. has a 12 month low of $2.11 and a 12 month high of $6.37. The company’s fifty day moving average price is $5.32 and its 200-day moving average price is $4.59. The stock has a market cap of $3.18 billion, a PE ratio of 4.36 and a beta of 1.57. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. StockNews.com upgraded IAMGOLD from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Scotiabank upped their target price on IAMGOLD from $4.75 to $5.50 and gave the company a “sector perform” rating in a report on Monday, August 19th. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada reissued 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 lifted their target price on shares of IAMGOLD from $5.40 to $6.40 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Three investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.