Aigen Investment Management LP Buys 6,704 Shares of IAMGOLD Co. (NYSE:IAG)

Aigen Investment Management LP raised its stake in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 10.6% during the third quarter, HoldingsChannel.com reports. The fund owned 70,244 shares of the mining company’s stock after purchasing an additional 6,704 shares during the quarter. Aigen Investment Management LP’s holdings in IAMGOLD were worth $368,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Van ECK Associates Corp grew its position in shares of IAMGOLD by 8.8% during the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock valued at $276,639,000 after purchasing an additional 4,267,084 shares in the last quarter. Donald Smith & CO. Inc. grew its holdings in IAMGOLD by 0.8% during the 1st quarter. Donald Smith & CO. Inc. now owns 36,077,268 shares of the mining company’s stock valued at $120,137,000 after buying an additional 298,959 shares in the last quarter. Vanguard Group Inc. increased its stake in IAMGOLD by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company’s stock worth $58,871,000 after acquiring an additional 168,302 shares during the last quarter. Millennium Management LLC raised its holdings in shares of IAMGOLD by 194.2% during the 2nd quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company’s stock worth $29,573,000 after acquiring an additional 5,204,715 shares in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of IAMGOLD by 28.6% during the 2nd quarter. American Century Companies Inc. now owns 5,708,298 shares of the mining company’s stock valued at $21,423,000 after acquiring an additional 1,270,608 shares during the last quarter. Hedge funds and other institutional investors own 47.08% of the company’s stock.

IAMGOLD Stock Performance

IAMGOLD stock opened at $4.99 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. The firm has a market capitalization of $2.85 billion, a P/E ratio of 3.90 and a beta of 1.57. IAMGOLD Co. has a 1-year low of $2.11 and a 1-year high of $6.37. The company’s 50-day moving average is $5.29 and its 200 day moving average is $4.54.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on IAG shares. National Bank Financial upgraded shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. 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 reiterated a “sector perform” rating and issued a $6.00 price target on shares of IAMGOLD in a research report on Tuesday, October 22nd. Scotiabank upped their price objective on IAMGOLD from $4.75 to $5.50 and gave the company a “sector perform” rating in a research report on Monday, August 19th. Finally, CIBC lifted their target price on IAMGOLD from $5.40 to $6.40 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, IAMGOLD currently has an average rating of “Moderate Buy” and an average target price of $6.68.

About IAMGOLD

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.