JPMorgan Chase & Co. boosted its holdings in IAMGOLD Co. (NYSE:IAG – Free Report) (TSE:IMG) by 66.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,511,328 shares of the mining company’s stock after purchasing an additional 604,259 shares during the period. JPMorgan Chase & Co.’s holdings in IAMGOLD were worth $7,904,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in IAG. Millennium Management LLC boosted its holdings in shares of IAMGOLD by 194.2% during the second quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company’s stock worth $29,573,000 after purchasing an additional 5,204,715 shares during the period. FMR LLC raised its position in IAMGOLD by 107.9% during the 3rd quarter. FMR LLC now owns 8,819,600 shares of the mining company’s stock valued at $46,174,000 after purchasing an additional 4,577,599 shares during the last quarter. Van ECK Associates Corp lifted its holdings in IAMGOLD by 8.8% in the 3rd quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock worth $276,639,000 after buying an additional 4,267,084 shares during the period. Two Sigma Advisers LP grew its position in shares of IAMGOLD by 58.8% in the 3rd quarter. Two Sigma Advisers LP now owns 10,083,115 shares of the mining company’s stock worth $52,735,000 after buying an additional 3,732,315 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in shares of IAMGOLD by 130.6% during the third quarter. Bank of Montreal Can now owns 5,384,778 shares of the mining company’s stock valued at $28,385,000 after buying an additional 3,049,252 shares during the period. 47.08% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
IAG has been the topic of several research analyst reports. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 target price on shares of IAMGOLD in a research report on Tuesday, October 22nd. Cibc World Mkts upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. StockNews.com downgraded IAMGOLD from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, National Bank Financial upgraded shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.68.
IAMGOLD Stock Performance
NYSE IAG opened at $5.58 on Wednesday. The business’s 50 day moving average price is $5.38 and its 200-day moving average price is $5.01. IAMGOLD Co. has a fifty-two week low of $2.23 and a fifty-two week high of $6.37. The company has a market cap of $3.19 billion, a P/E ratio of 4.36 and a beta of 1.56. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89.
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.
Featured Articles
- Five stocks we like better than IAMGOLD
- Best Stocks Under $10.00
- The Fed Is More Likely to Hike Than Cut Rates in 2025
- Stock Analyst Ratings and Canadian Analyst Ratings
- Investors Navigate Uncertainty by Seeking Refuge in Gold and Oil
- How to Invest in the FAANG Stocks
- Archer Aviation Shares Slide, Now Bargain Priced for 2025
Want to see what other hedge funds are holding IAG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for IAMGOLD Co. (NYSE:IAG – Free Report) (TSE:IMG).
Receive News & Ratings for IAMGOLD Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IAMGOLD and related companies with MarketBeat.com's FREE daily email newsletter.