Arrowstreet Capital Limited Partnership Purchases 6,999 Shares of IAMGOLD Co. (NYSE:IAG)

Arrowstreet Capital Limited Partnership increased its position in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 0.0% during the fourth quarter, Holdings Channel reports. The firm owned 16,311,718 shares of the mining company’s stock after buying an additional 6,999 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in IAMGOLD were worth $84,198,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. CIBC Asset Management Inc boosted its position in IAMGOLD by 0.4% during the fourth quarter. CIBC Asset Management Inc now owns 700,955 shares of the mining company’s stock worth $3,615,000 after purchasing an additional 2,848 shares during the period. Bank of New York Mellon Corp raised its stake in IAMGOLD by 12.7% in the 4th quarter. Bank of New York Mellon Corp now owns 35,046 shares of the mining company’s stock worth $181,000 after purchasing an additional 3,961 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its holdings in IAMGOLD by 4.6% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 91,623 shares of the mining company’s stock valued at $473,000 after purchasing an additional 4,013 shares during the period. Tobam acquired a new stake in IAMGOLD during the fourth quarter worth approximately $25,000. Finally, Blue Trust Inc. increased its stake in IAMGOLD by 157.1% during 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 during the period. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. CIBC reissued an “outperform” rating on shares of IAMGOLD in a report on Thursday, March 20th. Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. National Bank Financial upgraded shares of IAMGOLD to a “strong-buy” rating in a research report on Friday, March 21st. Raymond James raised IAMGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, February 3rd. Finally, StockNews.com cut IAMGOLD from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Four analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $6.90.

IAMGOLD Stock Down 0.7 %

Shares of IAG opened at $6.25 on Tuesday. The stock has a market capitalization of $3.58 billion, a price-to-earnings ratio of 4.31 and a beta of 1.63. IAMGOLD Co. has a 52 week low of $3.44 and a 52 week high of $6.69. 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 stock has a fifty day moving average of $6.01 and a 200-day moving average of $5.60.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results 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 net margin of 50.19% and a return on equity of 10.64%. The firm had revenue of $469.90 million for the quarter, compared to analyst estimates of $498.68 million. As a group, sell-side analysts anticipate that IAMGOLD Co. will post 0.67 earnings per share for the current fiscal 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.