U S Global Investors Inc. Buys 604,114 Shares of IAMGOLD Co. (NYSE:IAG)

U S Global Investors Inc. grew its stake in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) by 241.6% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 854,114 shares of the mining company’s stock after purchasing an additional 604,114 shares during the quarter. U S Global Investors Inc.’s holdings in IAMGOLD were worth $4,467,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. ORG Partners LLC bought a new stake in shares of IAMGOLD in the third quarter valued at $29,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of IAMGOLD by 3.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 306,980 shares of the mining company’s stock worth $1,154,000 after purchasing an additional 8,972 shares in the last quarter. Continuum Advisory LLC boosted its holdings in shares of IAMGOLD by 92.9% in the 2nd quarter. Continuum Advisory LLC now owns 20,450 shares of the mining company’s stock worth $77,000 after purchasing an additional 9,850 shares in the last quarter. TIAA Trust National Association purchased a new position in shares of IAMGOLD in the 2nd quarter worth about $38,000. Finally, WINTON GROUP Ltd purchased a new position in shares of IAMGOLD in the 2nd quarter worth about $52,000. 47.08% of the stock is currently owned by institutional investors.

IAMGOLD Trading Up 2.6 %

Shares of NYSE IAG traded up $0.16 during trading hours on Tuesday, hitting $6.31. 974,662 shares of the company traded hands, compared to its average volume of 9,131,638. The company has a current ratio of 1.34, a quick ratio of 0.90 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $3.59 billion, a price-to-earnings ratio of 21.96 and a beta of 1.59. IAMGOLD Co. has a 12 month low of $2.11 and a 12 month high of $6.37. The company’s 50 day moving average price is $5.12 and its 200 day moving average price is $4.32.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Thursday, August 8th. The mining company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.08. IAMGOLD had a return on equity of 6.70% and a net margin of 10.36%. The firm had revenue of $385.30 million during the quarter. During the same quarter last year, the company earned ($0.01) earnings per share. On average, equities research analysts anticipate that IAMGOLD Co. will post 0.49 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday. Scotiabank upped their price target on IAMGOLD from $4.75 to $5.50 and gave the company a “sector perform” rating in a research report on Monday, August 19th. National Bank Financial upgraded IAMGOLD from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. CIBC upped their target price on IAMGOLD from $4.90 to $5.40 and gave the stock a “neutral” rating in a report on Monday, August 12th. Finally, Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $4.73.

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.