Synergy Asset Management LLC Boosts Stake in IAMGOLD Co. (NYSE:IAG)

Synergy Asset Management LLC lifted its holdings in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 117.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,499 shares of the mining company’s stock after purchasing an additional 27,262 shares during the period. Synergy Asset Management LLC’s holdings in IAMGOLD were worth $274,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. ORG Partners LLC purchased a new stake in shares of IAMGOLD in the third quarter valued at approximately $29,000. Eastern Bank acquired a new stake in IAMGOLD in the 3rd quarter valued at $30,000. Blue Trust Inc. increased 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 worth $47,000 after acquiring an additional 5,511 shares in the last quarter. Flow Traders U.S. LLC acquired a new position in IAMGOLD during the third quarter worth $93,000. Finally, DGS Capital Management LLC purchased a new position in IAMGOLD during the fourth quarter valued at $110,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

Wall Street Analysts Forecast Growth

IAG has been the subject of a number of research reports. StockNews.com cut shares of IAMGOLD from a “buy” rating to a “hold” rating in a research note on Wednesday. CIBC raised IAMGOLD from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 2nd. Raymond James lowered their price target on IAMGOLD from $6.50 to $6.00 and set an “underperform” rating on the stock in a research note on Wednesday, January 15th. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating and raised their price objective for the company from $7.75 to $10.50 in a report on Tuesday, October 22nd. Finally, Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, IAMGOLD has a consensus rating of “Moderate Buy” and an average target price of $6.57.

IAMGOLD Stock Up 4.8 %

Shares of IAG opened at $6.29 on Friday. IAMGOLD Co. has a 52-week low of $2.32 and a 52-week high of $6.37. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The stock has a fifty day simple moving average of $5.49 and a two-hundred day simple moving average of $5.14. The company has a market capitalization of $3.59 billion, a PE ratio of 4.91 and a beta of 1.56.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings data on Thursday, November 7th. The mining company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.07. The firm had revenue of $438.90 million during the quarter. IAMGOLD had a net margin of 49.56% and a return on equity of 10.01%. During the same quarter in the previous year, the business posted ($0.01) earnings per share. As a group, equities analysts forecast that IAMGOLD Co. will post 0.58 EPS for the current year.

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.