Virtu Financial LLC Invests $267,000 in IAMGOLD Co. (NYSE:IAG)

Virtu Financial LLC acquired a new stake in shares of IAMGOLD Co. (NYSE:IAG) (TSE:IMG) in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 50,977 shares of the mining company’s stock, valued at approximately $267,000.

Several other hedge funds have also made changes to their positions in the stock. Millennium Management LLC raised its holdings in IAMGOLD by 194.2% in the 2nd quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company’s stock valued at $29,573,000 after acquiring an additional 5,204,715 shares in the last quarter. FMR LLC grew its holdings in shares of IAMGOLD by 107.9% during the 3rd quarter. FMR LLC now owns 8,819,600 shares of the mining company’s stock worth $46,174,000 after purchasing an additional 4,577,599 shares in the last quarter. Van ECK Associates Corp increased its position in shares of IAMGOLD by 8.8% during the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock valued at $276,639,000 after purchasing an additional 4,267,084 shares during the period. Two Sigma Advisers LP raised its stake in shares of IAMGOLD by 58.8% in the third quarter. Two Sigma Advisers LP now owns 10,083,115 shares of the mining company’s stock valued at $52,735,000 after purchasing an additional 3,732,315 shares in the last quarter. Finally, Bank of Montreal Can lifted its position in IAMGOLD by 130.6% in the third quarter. Bank of Montreal Can now owns 5,384,778 shares of the mining company’s stock worth $28,385,000 after purchasing an additional 3,049,252 shares during the period. Institutional investors own 47.08% of the company’s stock.

IAMGOLD Price Performance

NYSE IAG opened at $5.31 on Wednesday. The stock’s 50 day simple moving average is $5.42 and its 200 day simple moving average is $4.78. IAMGOLD Co. has a one year low of $2.23 and a one year high of $6.37. The firm has a market cap of $3.03 billion, a PE ratio of 4.14 and a beta of 1.56. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 price target on shares of IAMGOLD in a research report on Tuesday, October 22nd. Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. CIBC raised IAMGOLD from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 2nd. Finally, StockNews.com raised IAMGOLD from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $6.68.

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.