Cerity Partners LLC Buys 16,475 Shares of Iamgold Corporation (NYSE:IAG)

Cerity Partners LLC boosted its stake in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 28.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 75,250 shares of the mining company’s stock after purchasing an additional 16,475 shares during the quarter. Cerity Partners LLC’s holdings in Iamgold were worth $470,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of Iamgold in the 1st quarter valued at about $647,000. Ritholtz Wealth Management purchased a new stake in shares of Iamgold in the 1st quarter valued at about $94,000. Franklin Resources Inc. raised its holdings in shares of Iamgold by 5.3% in the 4th quarter. Franklin Resources Inc. now owns 36,156 shares of the mining company’s stock valued at $187,000 after acquiring an additional 1,836 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Iamgold by 4.0% in the 4th quarter. Geode Capital Management LLC now owns 274,756 shares of the mining company’s stock valued at $1,435,000 after acquiring an additional 10,468 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Iamgold in the 4th quarter valued at about $107,000. Institutional investors own 47.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on IAG. CIBC reiterated an “outperform” rating on shares of Iamgold in a research report on Tuesday, July 15th. BMO Capital Markets began coverage on Iamgold in a research report on Wednesday, April 16th. They set an “outperform” rating on the stock. Scotiabank increased their price objective on Iamgold from $7.50 to $7.75 and gave the company a “sector perform” rating in a research report on Monday, May 12th. National Bankshares reiterated an “outperform” rating on shares of Iamgold in a research report on Tuesday, June 24th. Finally, Raymond James Financial upgraded Iamgold to a “hold” rating and set a $8.00 price objective on the stock in a research report on Monday, June 30th. Four investment 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 stock. According to MarketBeat.com, Iamgold presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.53.

Iamgold Price Performance

Shares of Iamgold stock opened at $7.03 on Friday. The stock’s 50-day simple moving average is $7.18 and its 200-day simple moving average is $6.59. Iamgold Corporation has a 52 week low of $3.44 and a 52 week high of $8.38. The company has a market capitalization of $4.04 billion, a price-to-earnings ratio of 4.98, a PEG ratio of 0.34 and a beta of 1.15. The company has a quick ratio of 0.83, a current ratio of 1.41 and a debt-to-equity ratio of 0.29.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its 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. Iamgold had a return on equity of 9.26% and a net margin of 45.42%. The firm had revenue of $457.23 million for the quarter, compared to analysts’ expectations of $578.70 million. As a group, analysts expect that Iamgold Corporation will post 0.67 earnings per share for the current fiscal year.

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.