Cetera Investment Advisers Has $2.39 Million Stake in Iamgold Corporation $IAG

Cetera Investment Advisers grew its holdings in Iamgold Corporation (NYSE:IAG) (TSE:IMG) by 4.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 325,697 shares of the mining company’s stock after acquiring an additional 14,321 shares during the quarter. Cetera Investment Advisers owned 0.06% of Iamgold worth $2,394,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of IAG. T. Rowe Price Investment Management Inc. bought a new stake in Iamgold during the 1st quarter worth approximately $45,911,000. Bornite Capital Management LP acquired a new position in shares of Iamgold in the second quarter valued at approximately $34,089,000. Nuveen LLC bought a new stake in shares of Iamgold during the first quarter worth $20,620,000. Anson Funds Management LP raised its holdings in shares of Iamgold by 2,100.0% during the first quarter. Anson Funds Management LP now owns 3,300,000 shares of the mining company’s stock worth $20,598,000 after acquiring an additional 3,150,000 shares during the period. Finally, Ninety One UK Ltd raised its holdings in shares of Iamgold by 127.7% during the second quarter. Ninety One UK Ltd now owns 5,347,405 shares of the mining company’s stock worth $39,303,000 after acquiring an additional 2,998,882 shares during the period. Institutional investors own 47.08% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on IAG. Raymond James Financial upped their target price on shares of Iamgold from $9.00 to $13.00 and gave the stock a “market perform” rating in a research note on Friday, October 10th. Zacks Research cut Iamgold from a “strong-buy” rating to a “hold” rating in a research report on Friday, August 15th. CIBC lifted their target price on Iamgold from $10.40 to $19.00 and gave the company an “outperformer” rating in a research report on Friday, October 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Iamgold in a report on Wednesday, October 8th. Finally, Stifel Canada upgraded shares of Iamgold from a “hold” rating to a “strong-buy” rating in a report on Monday, October 20th. Three analysts have rated the stock with a Strong Buy rating, five have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Iamgold has an average rating of “Buy” and an average price target of $15.25.

Iamgold Trading Up 2.4%

NYSE IAG opened at $15.67 on Friday. Iamgold Corporation has a 12 month low of $4.98 and a 12 month high of $15.60. The company has a current ratio of 1.47, a quick ratio of 0.76 and a debt-to-equity ratio of 0.31. The stock has a 50 day moving average of $12.98 and a 200-day moving average of $9.64. The company has a market cap of $9.02 billion, a PE ratio of 11.27, a PEG ratio of 0.39 and a beta of 1.22.

Iamgold (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings data on Tuesday, November 4th. The mining company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.21 by $0.09. Iamgold had a net margin of 40.61% and a return on equity of 8.54%. The company had revenue of $714.61 million during the quarter, compared to the consensus estimate of $759.45 million. On average, equities research analysts anticipate that Iamgold Corporation will post 0.67 EPS for the current fiscal year.

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.