Nuveen Asset Management LLC Raises Holdings in IAMGOLD Co. (NYSE:IAG)

Nuveen Asset Management LLC lifted its stake in IAMGOLD Co. (NYSE:IAG - Free Report) TSE: IMG by 3.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,742,119 shares of the mining company's stock after acquiring an additional 87,743 shares during the period. Nuveen Asset Management LLC owned 0.48% of IAMGOLD worth $14,166,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Tobam acquired a new position in shares of IAMGOLD in the fourth quarter valued at about $25,000. Blue Trust Inc. boosted its stake in shares of IAMGOLD by 157.1% in the fourth quarter. Blue Trust Inc. now owns 9,018 shares of the mining company's stock worth $47,000 after buying an additional 5,511 shares during the last quarter. Raab & Moskowitz Asset Management LLC purchased a new position in IAMGOLD during the fourth quarter worth approximately $56,000. Atria Wealth Solutions Inc. acquired a new stake in IAMGOLD in the fourth quarter valued at approximately $68,000. Finally, Choreo LLC acquired a new stake in IAMGOLD in the fourth quarter valued at approximately $88,000. 47.08% of the stock is owned by institutional investors.

IAMGOLD Stock Down 0.5%

Shares of NYSE:IAG traded down $0.04 on Thursday, hitting $6.81. 13,686,699 shares of the company's stock were exchanged, compared to its average volume of 10,584,481. The firm's 50-day moving average is $6.73 and its 200 day moving average is $6.03. The company has a market capitalization of $3.91 billion, a PE ratio of 4.69 and a beta of 1.20. IAMGOLD Co. 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 0.24, a quick ratio of 0.61 and a current ratio of 0.89.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last announced 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 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%. Sell-side analysts predict that IAMGOLD Co. will post 0.67 EPS for the current year.

Analyst Ratings Changes

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

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.