Intact Investment Management Inc. Buys 1,675,440 Shares of IAMGOLD Co. (NYSE:IAG)

Intact Investment Management Inc. grew its stake in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 158.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,733,450 shares of the mining company’s stock after acquiring an additional 1,675,440 shares during the quarter. Intact Investment Management Inc. owned 0.48% of IAMGOLD worth $14,127,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Swiss National Bank raised its stake in shares of IAMGOLD by 0.6% in the fourth quarter. Swiss National Bank now owns 1,127,300 shares of the mining company’s stock worth $5,824,000 after purchasing an additional 6,800 shares during the last quarter. Generali Investments CEE investicni spolecnost a.s. purchased a new position in shares of IAMGOLD in the fourth quarter worth $103,000. Raymond James Financial Inc. purchased a new position in shares of IAMGOLD in the fourth quarter worth $107,000. Aigen Investment Management LP raised its stake in shares of IAMGOLD by 25.8% in the fourth quarter. Aigen Investment Management LP now owns 88,341 shares of the mining company’s stock worth $456,000 after purchasing an additional 18,097 shares during the last quarter. Finally, DJE Kapital AG purchased a new position in shares of IAMGOLD in the fourth quarter worth $1,419,000. 47.08% of the stock is owned by institutional investors.

IAMGOLD Stock Up 1.1 %

IAMGOLD stock opened at $5.78 on Friday. The stock has a fifty day moving average of $5.87 and a 200 day moving average of $5.49. IAMGOLD Co. has a one year low of $2.90 and a one year 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 market cap of $3.30 billion, a PE ratio of 3.98 and a beta of 1.63.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its quarterly earnings results on Thursday, February 20th. The mining company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.05). IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. The company had revenue of $469.90 million for the quarter, compared to the consensus estimate of $498.68 million. As a group, sell-side analysts predict that IAMGOLD Co. will post 0.67 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on IAG shares. Cibc World Mkts upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. StockNews.com cut IAMGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. Raymond James upgraded IAMGOLD from a “strong sell” rating to a “hold” rating in a research note on Monday, February 3rd. Finally, CIBC upgraded IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday, December 2nd. Four analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, IAMGOLD currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.57.

IAMGOLD 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.