Cetera Investment Advisers Boosts Position in IAMGOLD Co. (NYSE:IAG)

Cetera Investment Advisers lifted its holdings in shares of IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 23.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 303,699 shares of the mining company's stock after purchasing an additional 58,287 shares during the quarter. Cetera Investment Advisers owned about 0.05% of IAMGOLD worth $1,567,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Donald Smith & CO. Inc. grew its holdings in shares of IAMGOLD by 0.7% during the 4th quarter. Donald Smith & CO. Inc. now owns 31,233,874 shares of the mining company's stock worth $161,167,000 after purchasing an additional 216,751 shares during the period. RCF Management L.L.C. purchased a new position in IAMGOLD during the 4th quarter valued at about $128,174,000. Vanguard Group Inc. boosted its holdings in IAMGOLD by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 21,232,871 shares of the mining company's stock valued at $109,741,000 after acquiring an additional 321,458 shares during the period. American Century Companies Inc. boosted its holdings in IAMGOLD by 25.9% during the 4th quarter. American Century Companies Inc. now owns 10,162,314 shares of the mining company's stock valued at $52,499,000 after acquiring an additional 2,092,803 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in IAMGOLD by 21.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 9,267,628 shares of the mining company's stock valued at $47,818,000 after acquiring an additional 1,637,158 shares during the period. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Scotiabank raised their target price on IAMGOLD from $7.50 to $7.75 and gave the company a "sector perform" rating in a report on Monday, May 12th. Raymond James restated a "market perform" rating and set a $8.00 target price on shares of IAMGOLD in a report on Friday, April 4th. National Bank Financial upgraded IAMGOLD to a "strong-buy" rating in a report on Friday, March 21st. BMO Capital Markets assumed coverage on IAMGOLD in a report on Wednesday, April 16th. They set an "outperform" rating for the company. Finally, Wall Street Zen lowered IAMGOLD from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Four analysts have rated the stock with a hold rating, three have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, IAMGOLD presently has a consensus rating of "Moderate Buy" and an average target price of $7.74.

IAMGOLD Stock Up 2.5%

IAG stock traded up $0.17 during trading on Monday, hitting $6.74. 18,591,926 shares of the company's stock were exchanged, compared to its average volume of 10,485,151. The business has a 50-day moving average price of $6.70 and a two-hundred day moving average price of $6.02. The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of 4.64 and a beta of 1.20. IAMGOLD Co. has a 52-week low of $3.44 and a 52-week high of $8.38. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last posted its earnings results on Tuesday, May 6th. The mining company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. The firm had revenue of $457.23 million during the quarter, compared to analysts' expectations of $578.70 million. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. As a group, equities research analysts expect that IAMGOLD Co. will post 0.67 EPS for the current 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.