Two Sigma Advisers LP Grows Stock Holdings in IAMGOLD Co. (NYSE:IAG)

Two Sigma Advisers LP increased its holdings in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 58.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 10,083,115 shares of the mining company’s stock after acquiring an additional 3,732,315 shares during the quarter. Two Sigma Advisers LP’s holdings in IAMGOLD were worth $52,735,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in IAG. ORG Partners LLC acquired a new stake in IAMGOLD during the 3rd quarter worth about $29,000. Eastern Bank acquired a new stake in IAMGOLD during the third quarter worth about $30,000. TIAA Trust National Association purchased a new position in IAMGOLD during the second quarter valued at approximately $38,000. Cetera Advisors LLC acquired a new position in IAMGOLD in the first quarter valued at approximately $50,000. Finally, WINTON GROUP Ltd purchased a new stake in IAMGOLD in the 2nd quarter worth approximately $52,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Analyst Upgrades and Downgrades

IAG has been the topic of a number of research reports. StockNews.com upgraded IAMGOLD from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Scotiabank raised their price target on shares of IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $6.00 price objective on shares of IAMGOLD in a report on Tuesday, October 22nd. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating and lifted their target price for the company from $7.75 to $10.50 in a research report on Tuesday, October 22nd. Finally, CIBC upgraded IAMGOLD from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 2nd. Two research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $6.68.

IAMGOLD Trading Down 4.3 %

IAG opened at $5.35 on Friday. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The firm has a market cap of $3.06 billion, a P/E ratio of 4.18 and a beta of 1.56. IAMGOLD Co. has a 52 week low of $2.11 and a 52 week high of $6.37. The business has a fifty day simple moving average of $5.36 and a 200-day simple moving average of $4.70.

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.