Cetera Investment Advisers Sells 92,552 Shares of Iamgold Corporation $IAG

Key Points

• Cetera Investment Advisers reduced its IAMGOLD stake by 33.1% in the first quarter, selling 92,552 shares and retaining 187,101 shares valued at approximately $3.52 million. Institutional investors collectively own 47.08% of the company.
• IAMGOLD reported quarterly EPS of $0.66, beating estimates of $0.52, while revenue reached $1.01 billion versus the $955.17 million consensus forecast.
• Analysts maintain a consensus “Moderate Buy” rating with a $19.00 price target, although several firms recently reduced their targets. The stock opened at $15.95, compared with a 52-week range of $7.11 to $24.87.

Cetera Investment Advisers cut its stake in Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 33.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 187,101 shares of the mining company's stock after selling 92,552 shares during the quarter. Cetera Investment Advisers' holdings in Iamgold were worth $3,521,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Mariner LLC lifted its position in shares of Iamgold by 0.6% during the 4th quarter. Mariner LLC now owns 110,033 shares of the mining company's stock valued at $1,814,000 after buying an additional 615 shares in the last quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA lifted its position in Iamgold by 1.9% during the fourth quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 37,000 shares of the mining company's stock valued at $612,000 after purchasing an additional 700 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in Iamgold by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 220,452 shares of the mining company's stock worth $2,849,000 after acquiring an additional 1,303 shares during the last quarter. Northwest & Ethical Investments L.P. lifted its position in Iamgold by 0.4% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 343,605 shares of the mining company's stock worth $5,716,000 after buying an additional 1,424 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in shares of Iamgold by 4.8% during the 4th quarter. Franklin Resources Inc. now owns 32,011 shares of the mining company's stock worth $528,000 after purchasing an additional 1,474 shares during the period. Hedge funds and other institutional investors own 47.08% of the company's stock.

Iamgold Price Performance

NYSE:IAG opened at $15.95 on Thursday. Iamgold Corporation has a one year low of $7.11 and a one year high of $24.87. The company has a debt-to-equity ratio of 0.12, a quick ratio of 1.21 and a current ratio of 1.89. The stock has a 50 day moving average price of $15.76 and a 200 day moving average price of $18.10. The stock has a market cap of $9.16 billion, a PE ratio of 9.27, a P/E/G ratio of 0.66 and a beta of 1.32.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last issued its earnings results on Tuesday, May 5th. The mining company reported $0.66 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.14. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $955.17 million. Iamgold had a net margin of 29.49% and a return on equity of 26.65%. Equities research analysts expect that Iamgold Corporation will post 1.98 EPS for the current fiscal year.

Analyst Ratings Changes

IAG has been the topic of a number of recent analyst reports. Bank of America reduced their target price on Iamgold from $22.50 to $21.00 and set a "buy" rating on the stock in a research note on Thursday, July 9th. Wall Street Zen downgraded Iamgold from a "strong-buy" rating to a "buy" rating in a research note on Saturday, July 25th. Weiss Ratings downgraded shares of Iamgold from a "buy (b)" rating to a "buy (b-)" rating in a report on Tuesday, June 9th. Scotiabank lowered their target price on Iamgold from $25.00 to $22.00 and set a "sector perform" rating on the stock in a research note on Tuesday, July 14th. Finally, Royal Bank Of Canada cut their price objective on shares of Iamgold from $22.00 to $20.00 and set an "outperform" rating for the company in a report on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $19.00.

Iamgold Profile

IAMGOLD Corporation, founded in 1990 and headquartered in Toronto, is a mid-tier gold producer engaged in the exploration, development and operation of gold mining assets. The company’s primary focus is on the discovery and extraction of gold, with a portfolio that spans both operating mines and advanced development projects. IAMGOLD combines in-house technical expertise with strategic partnerships to advance projects from exploration through to production.

The company’s principal producing assets include the Essakane gold mine in Burkina Faso, which began commercial production in 2010, and the Westwood underground gold mine in Quebec’s Abitibi region.

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