Van ECK Associates Corp Purchases 1,368,491 Shares of IAMGOLD Co. (NYSE:IAG)

Van ECK Associates Corp boosted its position in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,117,785 shares of the mining company’s stock after acquiring an additional 1,368,491 shares during the quarter. Van ECK Associates Corp owned 10.00% of IAMGOLD worth $121,736,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Donald Smith & CO. Inc. raised its holdings in shares of IAMGOLD by 13.9% in the 4th quarter. Donald Smith & CO. Inc. now owns 35,778,309 shares of the mining company’s stock valued at $90,519,000 after purchasing an additional 4,358,444 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of IAMGOLD in the fourth quarter valued at approximately $10,972,000. Sprott Inc. boosted its stake in shares of IAMGOLD by 888.7% during the 3rd quarter. Sprott Inc. now owns 1,279,400 shares of the mining company’s stock worth $2,751,000 after acquiring an additional 1,150,000 shares during the period. Euro Pacific Asset Management LLC increased its holdings in shares of IAMGOLD by 48.1% during the 4th quarter. Euro Pacific Asset Management LLC now owns 2,727,065 shares of the mining company’s stock worth $6,898,000 after acquiring an additional 885,697 shares during the last quarter. Finally, Deutsche Bank AG raised its stake in IAMGOLD by 2,614.5% in the 3rd quarter. Deutsche Bank AG now owns 723,018 shares of the mining company’s stock valued at $1,554,000 after acquiring an additional 696,383 shares during the period. Institutional investors and hedge funds own 47.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. CIBC upped their price objective on shares of IAMGOLD from $3.00 to $3.10 and gave the company a “neutral” rating in a report on Wednesday, February 7th. National Bank Financial restated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. StockNews.com raised IAMGOLD from a “sell” rating to a “hold” rating in a research report on Friday. Scotiabank increased their price objective on IAMGOLD from $3.25 to $3.75 and gave the stock a “sector perform” rating in a research report on Thursday, April 18th. Finally, BMO Capital Markets boosted their target price on shares of IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $3.55.

IAMGOLD Price Performance

IAG traded down $0.16 during trading on Tuesday, hitting $3.64. 2,579,563 shares of the stock traded hands, compared to its average volume of 8,909,562. The business has a 50 day moving average price of $3.24 and a 200 day moving average price of $2.73. The company has a market cap of $1.81 billion, a price-to-earnings ratio of 20.00, a PEG ratio of 0.68 and a beta of 1.69. IAMGOLD Co. has a twelve month low of $1.99 and a twelve month high of $3.92. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.77.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Thursday, February 15th. The mining company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. The company had revenue of $297.60 million during the quarter. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. Equities research analysts forecast that IAMGOLD Co. will post 0.14 earnings per share for the current fiscal year.

IAMGOLD Company 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.