IAMGOLD Co. (NYSE:IAG) Short Interest Down 8.5% in January

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) was the recipient of a significant drop in short interest in the month of January. As of January 15th, there was short interest totalling 6,240,000 shares, a drop of 8.5% from the December 31st total of 6,820,000 shares. Based on an average trading volume of 7,810,000 shares, the short-interest ratio is currently 0.8 days. Approximately 1.1% of the shares of the company are short sold.

Hedge Funds Weigh In On IAMGOLD

A number of institutional investors have recently modified their holdings of the stock. Tobam acquired a new position in shares of IAMGOLD during the 4th quarter worth approximately $25,000. ORG Partners LLC purchased a new position in shares of IAMGOLD during the 3rd quarter worth approximately $29,000. Eastern Bank acquired a new stake in shares of IAMGOLD during the third quarter worth about $30,000. Blue Trust Inc. boosted its holdings in IAMGOLD by 157.1% in the fourth quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock valued at $47,000 after purchasing an additional 5,511 shares during the period. Finally, Raab & Moskowitz Asset Management LLC purchased a new stake in shares of IAMGOLD in the 4th quarter valued at approximately $56,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Analyst Upgrades and Downgrades

IAG has been the topic of several recent analyst reports. StockNews.com cut shares of IAMGOLD from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th. National Bank Financial raised shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Canaccord Genuity Group upgraded shares of IAMGOLD from a “hold” rating to a “buy” rating and upped their price objective for the stock from $7.75 to $10.50 in a report on Tuesday, October 22nd. Raymond James reduced their price target on shares of IAMGOLD from $6.50 to $6.00 and set an “underperform” rating for the company in a research report on Wednesday, January 15th. Finally, Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, IAMGOLD has an average rating of “Moderate Buy” and a consensus price target of $6.57.

IAMGOLD Trading Up 3.1 %

NYSE:IAG traded up $0.20 during midday trading on Monday, hitting $6.44. The stock had a trading volume of 16,668,173 shares, compared to its average volume of 12,265,760. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The stock has a 50-day moving average of $5.51 and a 200 day moving average of $5.18. IAMGOLD has a one year low of $2.32 and a one year high of $6.64. The company has a market capitalization of $3.68 billion, a price-to-earnings ratio of 5.03 and a beta of 1.56.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Thursday, November 7th. The mining company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07. IAMGOLD had a net margin of 49.56% and a return on equity of 10.01%. The business had revenue of $438.90 million for the quarter. During the same quarter in the previous year, the company posted ($0.01) EPS. As a group, sell-side analysts forecast that IAMGOLD will post 0.58 EPS for the current year.

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.