Virtu Financial LLC Acquires Shares of 50,977 IAMGOLD Co. (NYSE:IAG)

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

Other hedge funds have also modified their holdings of the company. Toronto Dominion Bank lifted its holdings in IAMGOLD by 15.6% during the 3rd quarter. Toronto Dominion Bank now owns 274,377 shares of the mining company’s stock worth $1,435,000 after buying an additional 37,005 shares in the last quarter. Geode Capital Management LLC raised its position in shares of IAMGOLD by 2.7% during the third quarter. Geode Capital Management LLC now owns 264,288 shares of the mining company’s stock worth $1,392,000 after acquiring an additional 6,874 shares during the last quarter. Public Employees Retirement System of Ohio bought a new position in IAMGOLD in the third quarter valued at about $1,083,000. XTX Topco Ltd increased its position in IAMGOLD by 84.5% in the third quarter. XTX Topco Ltd now owns 118,740 shares of the mining company’s stock worth $621,000 after purchasing an additional 54,392 shares during the period. Finally, National Bank of Canada FI raised its holdings in IAMGOLD by 48.8% during the 3rd quarter. National Bank of Canada FI now owns 1,914,730 shares of the mining company’s stock worth $10,018,000 after purchasing an additional 628,253 shares during the last quarter. 47.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

IAG has been the subject of several analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $6.00 price target on shares of IAMGOLD in a research report on Tuesday, October 22nd. Cibc World Mkts upgraded shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating and raised their price target for the stock from $7.75 to $10.50 in a research report on Tuesday, October 22nd. National Bank Financial raised IAMGOLD from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Finally, CIBC raised IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research note on Monday, December 2nd. Two analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $6.68.

IAMGOLD Price Performance

IAG opened at $5.31 on Wednesday. The stock has a market cap of $3.03 billion, a P/E ratio of 4.14 and a beta of 1.56. IAMGOLD Co. has a 12 month low of $2.23 and a 12 month high of $6.37. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The company has a fifty day simple moving average of $5.42 and a 200 day simple moving average of $4.78.

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.