Cambridge Investment Research Advisors Inc. Takes $647,000 Position in Iamgold Corporation (NYSE:IAG)

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

Other hedge funds have also modified their holdings of the company. Alpha Omega Wealth Management LLC acquired a new stake in shares of Iamgold during the first quarter valued at about $75,000. Ritholtz Wealth Management acquired a new stake in shares of Iamgold during the first quarter valued at about $94,000. Tudor Investment Corp ET AL increased its position in shares of Iamgold by 63.3% during the fourth quarter. Tudor Investment Corp ET AL now owns 18,986 shares of the mining company's stock valued at $98,000 after acquiring an additional 7,359 shares during the last quarter. Bank of Nova Scotia purchased a new position in shares of Iamgold in the fourth quarter valued at approximately $101,000. Finally, CenterBook Partners LP boosted its stake 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 purchasing an additional 8,491 shares during the period. 47.08% of the stock is currently owned by institutional investors and hedge funds.

Iamgold Trading Down 8.0%

NYSE:IAG traded down $0.60 on Tuesday, reaching $6.90. The stock had a trading volume of 22,856,851 shares, compared to its average volume of 14,536,093. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 4.89, a P/E/G ratio of 0.38 and a beta of 1.15. 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 firm's fifty day moving average is $7.08 and its two-hundred day moving average is $6.43. Iamgold Corporation has a 12-month low of $3.44 and a 12-month high of $8.38.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last released its earnings results on Tuesday, May 6th. The mining company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.10. The company had revenue of $457.23 million for the quarter, compared to analyst estimates of $578.70 million. Iamgold had a net margin of 45.42% and a return on equity of 9.26%. Equities analysts expect that Iamgold Corporation will post 0.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. CIBC raised their price objective 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 Bank Financial raised shares of Iamgold to a "strong-buy" rating in a research note on Friday, March 21st. National Bankshares reiterated an "outperform" rating on shares of Iamgold in a research note on Tuesday, June 24th. Raymond James Financial upgraded shares of Iamgold to a "hold" rating and set a $8.00 price target for the company in a research note on Monday, June 30th. Finally, Scotiabank lifted their price target on shares of Iamgold from $7.50 to $7.75 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Four equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Iamgold presently has an average rating of "Moderate Buy" and an average price target of $8.29.

Iamgold Company 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.