Raab & Moskowitz Asset Management LLC Invests $56,000 in IAMGOLD Co. (NYSE:IAG)

Raab & Moskowitz Asset Management LLC bought a new stake in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,923 shares of the mining company’s stock, valued at approximately $56,000.

Other institutional investors have also recently bought and sold shares of the company. Tobam acquired a new position in shares of IAMGOLD in the 4th quarter valued at $25,000. ORG Partners LLC acquired a new stake in shares of IAMGOLD during the 3rd quarter worth $29,000. Eastern Bank purchased a new position in shares of IAMGOLD in the 3rd quarter worth $30,000. Blue Trust Inc. boosted its holdings in IAMGOLD by 157.1% in the fourth quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock valued at $47,000 after acquiring an additional 5,511 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in IAMGOLD during the third quarter valued at about $700,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

IAMGOLD Price Performance

Shares of IAG stock opened at $6.60 on Thursday. IAMGOLD Co. has a twelve month low of $2.32 and a twelve month high of $6.69. The company has a market capitalization of $3.77 billion, a PE ratio of 5.16 and a beta of 1.56. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The firm has a fifty day simple moving average of $5.65 and a 200-day simple moving average of $5.30.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on IAG shares. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating and raised their price objective for the stock from $7.75 to $10.50 in a report on Tuesday, October 22nd. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. CIBC raised shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday, December 2nd. Royal Bank of Canada restated a “sector perform” rating and set a $6.00 target price on shares of IAMGOLD in a report on Tuesday, October 22nd. Finally, Raymond James upgraded IAMGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, February 3rd. Three 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $6.57.

IAMGOLD 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.