IAMGOLD Co. (NYSE:IAG) Short Interest Update

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 8,010,000 shares, a drop of 9.7% from the March 15th total of 8,870,000 shares. Based on an average daily trading volume, of 8,450,000 shares, the days-to-cover ratio is presently 0.9 days. Approximately 1.6% of the shares of the company are sold short.

IAMGOLD Price Performance

IAG stock traded down $0.03 during midday trading on Wednesday, hitting $3.54. 13,009,512 shares of the stock were exchanged, compared to its average volume of 10,469,036. The stock’s 50-day moving average price is $3.02 and its 200-day moving average price is $2.63. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of 18.63, a PEG ratio of 1.23 and a beta of 1.70. IAMGOLD has a fifty-two week low of $1.99 and a fifty-two week high of $3.92. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.77 and a current ratio of 1.19.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Thursday, February 15th. The mining company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.04. The firm had revenue of $297.60 million during the quarter. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. Research analysts predict that IAMGOLD will post 0.07 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on IAG. National Bank Financial restated a “sector perform spec overwgt” rating on shares of IAMGOLD in a research note on Monday, April 8th. StockNews.com upgraded IAMGOLD from a “sell” rating to a “hold” rating in a research note on Wednesday, April 10th. CIBC lifted their target price on IAMGOLD from $3.00 to $3.10 and gave the company a “neutral” rating in a research note on Wednesday, February 7th. Finally, BMO Capital Markets lifted their target price on IAMGOLD from $4.00 to $4.25 and gave the company an “outperform” rating in a research note on Friday, April 5th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, IAMGOLD has a consensus rating of “Hold” and an average target price of $3.52.

Hedge Funds Weigh In On IAMGOLD

Several hedge funds and other institutional investors have recently bought and sold shares of IAG. JPMorgan Chase & Co. grew its position in shares of IAMGOLD by 416.9% in the first quarter. JPMorgan Chase & Co. now owns 2,430,863 shares of the mining company’s stock valued at $8,459,000 after purchasing an additional 1,960,562 shares during the period. Raymond James Financial Services Advisors Inc. lifted its stake in shares of IAMGOLD by 2.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 488,427 shares of the mining company’s stock worth $1,700,000 after acquiring an additional 11,047 shares in the last quarter. Private Advisor Group LLC acquired a new position in shares of IAMGOLD in the first quarter worth about $41,000. Citigroup Inc. acquired a new position in shares of IAMGOLD in the first quarter worth about $31,000. Finally, Great West Life Assurance Co. Can lifted its stake in shares of IAMGOLD by 23.0% in the first quarter. Great West Life Assurance Co. Can now owns 36,927 shares of the mining company’s stock worth $137,000 after acquiring an additional 6,913 shares in the last quarter. 47.08% of the stock is owned by institutional investors and hedge funds.

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.