Cambridge Investment Research Advisors Inc. Takes Position in Iamgold Corporation (NYSE:IAG)

Cambridge Investment Research Advisors Inc. purchased a new position in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 103,533 shares of the mining company's stock, valued at approximately $647,000.

Other hedge funds also recently made changes to their positions in the company. Alpha Omega Wealth Management LLC acquired a new position in Iamgold during the first quarter worth $75,000. Ritholtz Wealth Management acquired a new stake in Iamgold in the 1st quarter valued at $94,000. Tudor Investment Corp ET AL increased its stake in Iamgold by 63.3% in the 4th 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 last quarter. Bank of Nova Scotia acquired a new stake in Iamgold in the 4th quarter valued at $101,000. Finally, CenterBook Partners LP increased its position in shares of 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 acquiring an additional 8,491 shares during the last quarter. 47.08% of the stock is owned by institutional investors.

Iamgold Price Performance

NYSE:IAG traded up $0.10 during trading hours on Friday, reaching $7.05. 9,792,423 shares of the company were exchanged, compared to its average volume of 11,603,937. The business has a 50 day moving average of $7.08 and a 200 day moving average of $6.46. Iamgold Corporation has a 1-year low of $3.44 and a 1-year high of $8.38. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.41 and a quick ratio of 0.83. The company has a market capitalization of $4.05 billion, a P/E ratio of 5.00, a P/E/G ratio of 0.36 and a beta of 1.15.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last posted its quarterly earnings data on Tuesday, May 6th. The mining company reported $0.10 EPS for the quarter, hitting analysts' consensus estimates 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 analyst estimates of $578.70 million. Research analysts forecast that Iamgold Corporation will post 0.67 EPS for the current year.

Wall Street Analysts Forecast Growth

IAG has been the topic of a number of recent research reports. National Bank Financial raised Iamgold to a "strong-buy" rating in a research report on Friday, March 21st. CIBC raised their target price on shares of Iamgold from $8.40 to $9.20 and gave the company an "outperformer" rating in a research note on Thursday, May 8th. National Bankshares restated an "outperform" rating on shares of Iamgold in a report on Tuesday, June 24th. Raymond James Financial raised shares of Iamgold to a "hold" rating and set a $8.00 price objective for the company in a research report on Monday, June 30th. Finally, Scotiabank upped their target price 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 investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $8.29.

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.