Picton Mahoney Asset Management Buys Shares of 58,900 IAMGOLD Corp (IAG)

Picton Mahoney Asset Management acquired a new position in shares of IAMGOLD Corp (NYSE:IAG) (TSE:IMG) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 58,900 shares of the mining company’s stock, valued at approximately $432,000.

Several other institutional investors and hedge funds have also modified their holdings of IAG. Royal Bank of Canada grew its stake in IAMGOLD by 496.5% in the 2nd quarter. Royal Bank of Canada now owns 4,484,298 shares of the mining company’s stock worth $23,138,000 after acquiring an additional 3,732,543 shares during the period. Heartland Advisors Inc. grew its stake in IAMGOLD by 372.1% in the 3rd quarter. Heartland Advisors Inc. now owns 3,634,511 shares of the mining company’s stock worth $22,222,000 after acquiring an additional 2,864,661 shares during the period. Tocqueville Asset Management L.P. grew its stake in IAMGOLD by 21.1% in the 3rd quarter. Tocqueville Asset Management L.P. now owns 8,294,577 shares of the mining company’s stock worth $50,597,000 after acquiring an additional 1,444,277 shares during the period. Hillsdale Investment Management Inc. grew its stake in IAMGOLD by 96.2% in the 3rd quarter. Hillsdale Investment Management Inc. now owns 2,066,300 shares of the mining company’s stock worth $12,644,000 after acquiring an additional 1,013,300 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in shares of IAMGOLD by 1.6% in the 3rd quarter. Van ECK Associates Corp now owns 56,732,518 shares of the mining company’s stock valued at $346,069,000 after purchasing an additional 880,887 shares during the last quarter. 58.09% of the stock is owned by institutional investors and hedge funds.

Shares of IAMGOLD Corp (NYSE IAG) opened at $5.88 on Tuesday. The firm has a market cap of $2,739.36, a PE ratio of 58.80, a PEG ratio of 23.33 and a beta of -0.31. IAMGOLD Corp has a 1 year low of $3.36 and a 1 year high of $7.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.78 and a quick ratio of 3.85.

IAG has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a report on Monday, October 23rd. Royal Bank of Canada set a $7.00 target price on shares of IAMGOLD and gave the company a “hold” rating in a report on Friday, November 10th. Scotiabank restated a “hold” rating on shares of IAMGOLD in a report on Tuesday, November 14th. Desjardins restated a “buy” rating on shares of IAMGOLD in a report on Monday, December 11th. Finally, TheStreet lowered shares of IAMGOLD from a “b” rating to a “c+” rating in a report on Thursday, November 16th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $7.07.

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IAMGOLD Profile

IAMGOLD Corporation (IAMGOLD) is engaged primarily in the exploration for, and the development and production of, mineral resource properties throughout the world. Through its holdings, IAMGOLD has interests in various operations, exploration and development properties. IAMGOLD is a mid-tier mining company with approximately four operating gold mines on over three continents.

Institutional Ownership by Quarter for IAMGOLD (NYSE:IAG)

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