Northwest & Ethical Investments L.P. Boosts Stock Position in Iamgold Corporation $IAG

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Northwest & Ethical Investments L.P. boosted its holdings in shares of Iamgold Corporation (NYSE:IAG - Free Report) TSE: IMG by 109.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,291 shares of the mining company's stock after buying an additional 100,668 shares during the period. Northwest & Ethical Investments L.P.'s holdings in Iamgold were worth $1,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. acquired a new position in Iamgold during the 1st quarter valued at about $647,000. Ritholtz Wealth Management acquired a new position in Iamgold during the 1st quarter valued at about $94,000. Cerity Partners LLC increased its position in Iamgold by 28.0% during the 1st quarter. Cerity Partners LLC now owns 75,250 shares of the mining company's stock valued at $470,000 after buying an additional 16,475 shares in the last quarter. Geode Capital Management LLC increased its position in Iamgold by 4.0% during the 4th quarter. Geode Capital Management LLC now owns 274,756 shares of the mining company's stock valued at $1,435,000 after buying an additional 10,468 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Iamgold during the 4th quarter valued at about $107,000. 47.08% of the stock is owned by institutional investors and hedge funds.

Iamgold Stock Performance

NYSE:IAG traded up $0.3050 during trading hours on Friday, reaching $8.7650. The company had a trading volume of 11,630,230 shares, compared to its average volume of 12,893,680. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.47 and a quick ratio of 0.76. Iamgold Corporation has a 1-year low of $4.44 and a 1-year high of $8.87. The business's 50 day moving average price is $7.41 and its 200-day moving average price is $6.85. The firm has a market cap of $5.04 billion, a PE ratio of 6.31, a price-to-earnings-growth ratio of 0.29 and a beta of 1.08.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last released its quarterly earnings data on Thursday, August 7th. The mining company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.01). Iamgold had a return on equity of 8.54% and a net margin of 40.61%.The company had revenue of $587.21 million during the quarter, compared to analysts' expectations of $663.21 million. Research analysts forecast that Iamgold Corporation will post 0.67 EPS for the current year.

Analysts Set New Price Targets

IAG has been the subject of a number of research reports. Zacks Research downgraded Iamgold from a "strong-buy" rating to a "hold" rating in a report on Friday, August 15th. Raymond James Financial raised Iamgold to a "hold" rating and set a $8.00 target price for the company in a report on Monday, June 30th. CIBC reaffirmed an "outperform" rating on shares of Iamgold in a report on Tuesday, July 15th. Scotiabank lifted their target price on Iamgold from $7.50 to $7.75 and gave the stock a "sector perform" rating in a report on Monday, May 12th. Finally, National Bankshares reaffirmed an "outperform" rating on shares of Iamgold in a report on Tuesday, June 24th. Two investment analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Iamgold has an average rating of "Moderate Buy" and an average target price of $8.53.

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.