Alps Advisors Inc. Invests $840,000 in Iamgold Corporation (NYSE:IAG)

Alps Advisors Inc. bought a new stake in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 134,392 shares of the mining company's stock, valued at approximately $840,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in IAG. Alpha Omega Wealth Management LLC purchased a new position in shares of Iamgold during the 1st quarter worth about $75,000. Ritholtz Wealth Management purchased a new position in shares of Iamgold during the 1st quarter worth about $94,000. Tudor Investment Corp ET AL raised its holdings in Iamgold by 63.3% in the fourth quarter. Tudor Investment Corp ET AL now owns 18,986 shares of the mining company's stock valued at $98,000 after buying an additional 7,359 shares during the period. Bank of Nova Scotia purchased a new position in Iamgold in the fourth quarter valued at approximately $101,000. Finally, CenterBook Partners LP raised its holdings in Iamgold by 75.8% in the fourth quarter. CenterBook Partners LP now owns 19,691 shares of the mining company's stock valued at $102,000 after buying an additional 8,491 shares during the period. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Iamgold Stock Down 0.4%

NYSE:IAG traded down $0.03 during trading hours on Tuesday, hitting $7.03. The stock had a trading volume of 13,648,217 shares, compared to its average volume of 11,614,924. The company has a current ratio of 1.41, a quick ratio of 0.83 and a debt-to-equity ratio of 0.29. Iamgold Corporation has a 1-year low of $3.44 and a 1-year high of $8.38. The business has a 50 day simple moving average of $7.08 and a two-hundred day simple moving average of $6.50. The company has a market cap of $4.04 billion, a PE ratio of 4.98, a price-to-earnings-growth ratio of 0.36 and a beta of 1.15.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last issued its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. Iamgold had a net margin of 45.42% and a return on equity of 9.26%. The company had revenue of $457.23 million during the quarter, compared to the consensus estimate of $578.70 million. Analysts predict that Iamgold Corporation will post 0.67 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently commented on IAG. BMO Capital Markets began coverage on shares of Iamgold in a report on Wednesday, April 16th. They issued an "outperform" rating on the stock. CIBC restated an "outperform" rating on shares of Iamgold in a report on Tuesday. Raymond James Financial upgraded shares of Iamgold to a "hold" rating and set a $8.00 price target on the stock in a report on Monday, June 30th. National Bank Financial upgraded shares of Iamgold to a "strong-buy" rating in a report on Friday, March 21st. Finally, Scotiabank raised their price target on shares of Iamgold from $7.50 to $7.75 and gave the company a "sector perform" rating in a report on Monday, May 12th. Four research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Iamgold has a consensus rating of "Moderate Buy" and an average price target of $8.53.

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.