70,660 Shares in IAMGOLD Co. (NYSE:IAG) Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. bought a new position in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 70,660 shares of the mining company’s stock, valued at approximately $365,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in IAG. RCF Management L.L.C. purchased a new position in IAMGOLD in the fourth quarter worth $128,174,000. Invesco Ltd. grew its position in IAMGOLD by 41.6% in the fourth quarter. Invesco Ltd. now owns 7,139,935 shares of the mining company’s stock worth $36,842,000 after acquiring an additional 2,098,215 shares in the last quarter. American Century Companies Inc. grew its position in IAMGOLD by 25.9% in the fourth quarter. American Century Companies Inc. now owns 10,162,314 shares of the mining company’s stock worth $52,499,000 after acquiring an additional 2,092,803 shares in the last quarter. Cibc World Market Inc. grew its position in IAMGOLD by 54.0% in the fourth quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company’s stock worth $26,452,000 after acquiring an additional 1,795,869 shares in the last quarter. Finally, Intact Investment Management Inc. grew its position in IAMGOLD by 158.4% in the fourth quarter. Intact Investment Management Inc. now owns 2,733,450 shares of the mining company’s stock worth $14,127,000 after acquiring an additional 1,675,440 shares in the last quarter. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

IAMGOLD Stock Performance

IAMGOLD stock opened at $6.31 on Friday. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average of $6.61 and a 200-day moving average of $5.96. The firm has a market cap of $3.63 billion, a P/E ratio of 4.35 and a beta of 1.20. IAMGOLD Co. has a 1-year low of $3.44 and a 1-year high of $8.38.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its earnings results on Tuesday, May 6th. The mining company reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. The company had revenue of $457.23 million during the quarter, compared to analyst estimates of $578.70 million. IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. Sell-side analysts expect that IAMGOLD Co. will post 0.67 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Raymond James reiterated a “market perform” rating and issued a $8.00 target price on shares of IAMGOLD in a research report on Friday, April 4th. National Bank Financial upgraded shares of IAMGOLD to a “strong-buy” rating in a research report on Friday, March 21st. Scotiabank upped their price target on shares of IAMGOLD from $7.50 to $7.75 and gave the company a “sector perform” rating in a research report on Monday, May 12th. BMO Capital Markets began coverage on shares of IAMGOLD in a research report on Wednesday, April 16th. They set an “outperform” rating for the company. Finally, StockNews.com lowered shares of IAMGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, IAMGOLD presently has an average rating of “Moderate Buy” and an average target price of $7.74.

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.