Bank of Montreal Can Has $23.97 Million Holdings in IAMGOLD Co. (NYSE:IAG)

Bank of Montreal Can lessened its position in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 13.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,642,692 shares of the mining company’s stock after selling 742,086 shares during the period. Bank of Montreal Can owned approximately 0.81% of IAMGOLD worth $23,967,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in IAG. Franklin Resources Inc. boosted its stake in IAMGOLD by 5.3% in the 4th quarter. Franklin Resources Inc. now owns 36,156 shares of the mining company’s stock valued at $187,000 after purchasing an additional 1,836 shares during the period. CIBC Asset Management Inc boosted its position in shares of IAMGOLD by 0.4% in the fourth quarter. CIBC Asset Management Inc now owns 700,955 shares of the mining company’s stock valued at $3,615,000 after acquiring an additional 2,848 shares during the period. Bank of New York Mellon Corp grew its stake in shares of IAMGOLD by 12.7% in the fourth quarter. Bank of New York Mellon Corp now owns 35,046 shares of the mining company’s stock valued at $181,000 after acquiring an additional 3,961 shares in the last quarter. Northwest & Ethical Investments L.P. increased its position in IAMGOLD by 4.6% during the fourth quarter. Northwest & Ethical Investments L.P. now owns 91,623 shares of the mining company’s stock worth $473,000 after acquiring an additional 4,013 shares during the period. Finally, Tobam acquired a new stake in IAMGOLD in the 4th quarter worth about $25,000. Institutional investors and hedge funds own 47.08% of the company’s stock.

IAMGOLD Stock Up 4.7 %

NYSE IAG opened at $7.20 on Friday. The business has a fifty day moving average price of $6.06 and a two-hundred day moving average price of $5.66. The stock has a market capitalization of $4.12 billion, a PE ratio of 4.97 and a beta of 1.52. IAMGOLD Co. has a fifty-two week low of $3.44 and a fifty-two week high of $7.42. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data 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 return on equity of 10.64% and a net margin of 50.19%. The business had revenue of $469.90 million for the quarter, compared to the consensus estimate of $498.68 million. Equities analysts expect that IAMGOLD Co. will post 0.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on IAG shares. Raymond James restated a “market perform” rating and set a $8.00 target price on shares of IAMGOLD in a research report on Friday, April 4th. CIBC reissued an “outperform” rating on shares of IAMGOLD in a research report on Thursday, March 20th. StockNews.com cut IAMGOLD from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Finally, National Bank Financial raised IAMGOLD to a “strong-buy” rating in a report on Friday, March 21st. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $7.23.

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.