Northwest & Ethical Investments L.P. Raises Stock Holdings in IAMGOLD Co. (NYSE:IAG)

Northwest & Ethical Investments L.P. boosted its stake in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 4.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 91,623 shares of the mining company’s stock after buying an additional 4,013 shares during the period. Northwest & Ethical Investments L.P.’s holdings in IAMGOLD were worth $473,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tobam purchased a new stake in IAMGOLD in the 4th quarter valued at about $25,000. Blue Trust Inc. raised its holdings in IAMGOLD by 157.1% in the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock valued at $47,000 after buying an additional 5,511 shares during the period. Raab & Moskowitz Asset Management LLC purchased a new stake in IAMGOLD in the 4th quarter valued at about $56,000. Atria Wealth Solutions Inc. purchased a new stake in IAMGOLD in the 4th quarter valued at about $68,000. Finally, Choreo LLC purchased a new stake in IAMGOLD in the 4th quarter valued at about $88,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

IAMGOLD Stock Performance

Shares of IAMGOLD stock opened at $6.05 on Friday. IAMGOLD Co. has a one year low of $2.94 and a one year high of $6.69. The company has a market cap of $3.46 billion, a PE ratio of 4.17 and a beta of 1.63. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. The business has a 50-day simple moving average of $5.93 and a 200-day simple moving average of $5.54.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Thursday, February 20th. The mining company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. The company had revenue of $469.90 million for the quarter, compared to analyst estimates of $498.68 million. On average, equities research analysts forecast that IAMGOLD Co. will post 0.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on IAG shares. Raymond James raised IAMGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, February 3rd. CIBC lifted their target price on IAMGOLD from $7.60 to $8.40 and gave the company an “outperformer” rating in a research report on Thursday. StockNews.com downgraded IAMGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Finally, Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.90.

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.