Polar Asset Management Partners Inc. Makes New Investment in IAMGOLD Co. (NYSE:IAG)

Polar Asset Management Partners Inc. bought a new position in IAMGOLD Co. (NYSE:IAG) (TSE:IMG) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,129,995 shares of the mining company’s stock, valued at approximately $5,500,000. Polar Asset Management Partners Inc. owned approximately 0.20% of IAMGOLD as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IAG. DGS Capital Management LLC purchased a new stake in IAMGOLD in the 4th quarter worth approximately $110,000. Blue Trust Inc. raised its holdings in shares of IAMGOLD by 157.1% during the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock valued at $47,000 after purchasing an additional 5,511 shares in the last quarter. Synergy Asset Management LLC raised its holdings in shares of IAMGOLD by 117.3% during the 4th quarter. Synergy Asset Management LLC now owns 50,499 shares of the mining company’s stock valued at $274,000 after purchasing an additional 27,262 shares in the last quarter. Cibc World Market Inc. raised its holdings in shares of IAMGOLD by 54.0% during the 4th quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company’s stock valued at $26,452,000 after purchasing an additional 1,795,869 shares in the last quarter. Finally, Choreo LLC bought a new position in shares of IAMGOLD during the 4th quarter valued at $88,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

IAMGOLD Stock Performance

NYSE IAG opened at $6.27 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. The firm has a market capitalization of $3.61 billion, a price-to-earnings ratio of 4.32 and a beta of 1.20. The company’s fifty day moving average is $6.60 and its two-hundred day moving average is $5.96. IAMGOLD Co. has a 52-week low of $3.44 and a 52-week high of $8.38.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $457.23 million for the quarter, compared to analyst estimates of $578.70 million. IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. Equities research analysts forecast that IAMGOLD Co. will post 0.67 EPS for the current year.

Wall Street Analyst Weigh In

IAG has been the topic of a number of recent research reports. CIBC raised their price target on shares of IAMGOLD from $8.40 to $9.20 and gave the company an “outperformer” rating in a report on Thursday, May 8th. Raymond James restated a “market perform” rating and set a $8.00 price target on shares of IAMGOLD in a report on Friday, April 4th. National Bank Financial upgraded shares of IAMGOLD to a “strong-buy” rating in a report on Friday, March 21st. BMO Capital Markets initiated coverage on shares of IAMGOLD in a report on Wednesday, April 16th. They set an “outperform” rating on the stock. Finally, StockNews.com downgraded shares of IAMGOLD from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, IAMGOLD presently has a consensus rating of “Moderate Buy” and a consensus price target of $7.74.

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.