Cerity Partners LLC Invests $303,000 in IAMGOLD Co. (NYSE:IAG)

Cerity Partners LLC purchased a new position in shares of IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 58,775 shares of the mining company's stock, valued at approximately $303,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC raised its holdings in shares of IAMGOLD by 27.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 1,289,000 shares of the mining company's stock valued at $6,654,000 after purchasing an additional 277,000 shares in the last quarter. Cibc World Market Inc. raised its stake in IAMGOLD by 54.0% during the 4th quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company's stock worth $26,452,000 after acquiring an additional 1,795,869 shares in the last quarter. Triasima Portfolio Management inc. raised its stake in IAMGOLD by 44.5% during the 4th quarter. Triasima Portfolio Management inc. now owns 352,315 shares of the mining company's stock worth $1,820,000 after acquiring an additional 108,524 shares in the last quarter. JPMorgan Chase & Co. raised its stake in IAMGOLD by 66.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,511,328 shares of the mining company's stock worth $7,904,000 after acquiring an additional 604,259 shares in the last quarter. Finally, Atria Wealth Solutions Inc. acquired a new stake in IAMGOLD during the 4th quarter worth $68,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on IAG shares. CIBC reiterated an "outperform" rating on shares of IAMGOLD in a research note on Thursday, March 20th. BMO Capital Markets started coverage on shares of IAMGOLD in a research note on Wednesday, April 16th. They issued an "outperform" rating on the stock. StockNews.com lowered shares of IAMGOLD from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Scotiabank lifted their price objective on shares of IAMGOLD from $6.75 to $7.50 and gave the company a "sector perform" rating in a research note on Monday, April 14th. Finally, National Bank Financial raised shares of IAMGOLD to a "strong-buy" rating in a report on Friday, March 21st. Four research analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, IAMGOLD has a consensus rating of "Moderate Buy" and an average price target of $7.57.

IAMGOLD Price Performance

IAG stock traded down $0.13 during trading on Tuesday, reaching $7.07. 924,840 shares of the company were exchanged, compared to its average volume of 10,134,304. The company has a market cap of $4.06 billion, a P/E ratio of 4.87 and a beta of 1.52. IAMGOLD Co. has a 52-week low of $3.44 and a 52-week high of $8.38. The stock's 50 day moving average price is $6.30 and its 200 day moving average price is $5.86. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last announced its quarterly earnings results on Thursday, February 20th. The mining company reported $0.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.15 by ($0.05). IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. The business had revenue of $469.90 million during the quarter, compared to analysts' expectations of $498.68 million. As a group, analysts predict that IAMGOLD Co. 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.