Trexquant Investment LP Purchases New Stake in IAMGOLD Co. (NYSE:IAG)

Trexquant Investment LP acquired a new position in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,156,628 shares of the mining company’s stock, valued at approximately $5,968,000. Trexquant Investment LP owned 0.20% of IAMGOLD at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of IAG. The Manufacturers Life Insurance Company boosted its holdings in shares of IAMGOLD by 3.9% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 471,617 shares of the mining company’s stock worth $2,474,000 after buying an additional 17,891 shares during the period. FMR LLC boosted its holdings in shares of IAMGOLD by 107.9% during the third quarter. FMR LLC now owns 8,819,600 shares of the mining company’s stock worth $46,174,000 after acquiring an additional 4,577,599 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of IAMGOLD by 10.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 109,558 shares of the mining company’s stock valued at $575,000 after purchasing an additional 10,715 shares during the last quarter. Verition Fund Management LLC bought a new position in shares of IAMGOLD during the third quarter worth approximately $114,000. Finally, Flow Traders U.S. LLC acquired a new stake in IAMGOLD during the 3rd quarter worth approximately $93,000. 47.08% of the stock is currently owned by institutional investors and hedge funds.

IAMGOLD Price Performance

Shares of NYSE:IAG opened at $5.64 on Friday. The firm has a 50 day moving average of $6.04 and a 200-day moving average of $5.62. IAMGOLD Co. has a 12 month low of $3.44 and a 12 month high of $6.69. 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 stock has a market capitalization of $3.23 billion, a PE ratio of 3.89 and a beta of 1.63.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its earnings results 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. On average, equities research analysts predict that IAMGOLD Co. will post 0.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

IAG has been the topic of several recent research reports. National Bank Financial upgraded IAMGOLD to a “strong-buy” rating in a research report on Friday, March 21st. StockNews.com lowered shares of IAMGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. CIBC reiterated an “outperform” rating on shares of IAMGOLD in a research note on Thursday, March 20th. Finally, Raymond James upgraded shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $6.90.

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.