Freedom Investment Management Inc. Boosts Holdings in IAMGOLD Co. (NYSE:IAG)

Freedom Investment Management Inc. increased its position in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 4.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 108,747 shares of the mining company’s stock after buying an additional 4,399 shares during the quarter. Freedom Investment Management Inc.’s holdings in IAMGOLD were worth $561,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its stake in IAMGOLD by 27.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,289,000 shares of the mining company’s stock worth $6,654,000 after acquiring an additional 277,000 shares during the last quarter. Cibc World Market Inc. increased its position in shares of IAMGOLD by 54.0% during the 4th quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company’s stock worth $26,452,000 after purchasing an additional 1,795,869 shares during the last quarter. Triasima Portfolio Management inc. raised its holdings in IAMGOLD by 44.5% in the 4th quarter. Triasima Portfolio Management inc. now owns 352,315 shares of the mining company’s stock valued at $1,820,000 after buying an additional 108,524 shares during the period. JPMorgan Chase & Co. lifted its position in IAMGOLD by 66.6% in the third quarter. JPMorgan Chase & Co. now owns 1,511,328 shares of the mining company’s stock valued at $7,904,000 after buying an additional 604,259 shares during the last quarter. Finally, Atria Wealth Solutions Inc. purchased a new position in IAMGOLD during the fourth quarter worth about $68,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

IAG has been the topic of several recent analyst reports. BMO Capital Markets began coverage on shares of IAMGOLD in a report on Wednesday, April 16th. They issued an “outperform” rating on the stock. CIBC restated an “outperform” rating on shares of IAMGOLD in a research report on Thursday, March 20th. Scotiabank boosted their price objective on IAMGOLD from $6.75 to $7.50 and gave the company a “sector perform” rating in a report on Monday, April 14th. National Bank Financial upgraded IAMGOLD to a “strong-buy” rating in a report on Friday, March 21st. Finally, Raymond James reissued a “market perform” rating and set a $8.00 price target on shares of IAMGOLD in a research report on Friday, April 4th. 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $7.57.

IAMGOLD Price Performance

Shares of IAG opened at $7.82 on Monday. 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 Co. has a fifty-two week low of $3.44 and a fifty-two week high of $8.38. The firm has a 50-day simple moving average of $6.19 and a 200-day simple moving average of $5.75. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 5.39 and a beta of 1.52.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its earnings results on Thursday, February 20th. The mining company reported $0.10 earnings per share 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 during the quarter, compared to analysts’ expectations of $498.68 million. On average, equities research analysts anticipate that IAMGOLD Co. will post 0.67 earnings per share for the current year.

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.