IAMGOLD Co. (NYSE:IAG) Short Interest Update

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) saw a significant drop in short interest in September. As of September 30th, there was short interest totalling 5,790,000 shares, a drop of 6.2% from the September 15th total of 6,170,000 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average trading volume of 9,380,000 shares, the short-interest ratio is currently 0.6 days.

Institutional Trading of IAMGOLD

Several hedge funds have recently modified their holdings of the company. ORG Partners LLC purchased a new stake in shares of IAMGOLD during the 3rd quarter valued at $29,000. TIAA Trust National Association acquired a new stake in IAMGOLD in the second quarter worth about $38,000. WINTON GROUP Ltd purchased a new stake in shares of IAMGOLD during the second quarter worth about $52,000. Banque Cantonale Vaudoise acquired a new position in shares of IAMGOLD during the second quarter valued at about $56,000. Finally, Cetera Advisors LLC purchased a new position in shares of IAMGOLD in the 1st quarter valued at approximately $50,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

IAMGOLD Trading Up 3.3 %

IAG traded up $0.16 during trading on Wednesday, hitting $5.08. 9,860,654 shares of the stock were exchanged, compared to its average volume of 9,067,450. IAMGOLD has a 1 year low of $2.11 and a 1 year high of $5.60. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 18.00 and a beta of 1.59. The firm has a 50 day simple moving average of $5.00 and a 200 day simple moving average of $4.26. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.90 and a current ratio of 1.34.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.08. The firm had revenue of $385.30 million during the quarter. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. During the same period in the previous year, the company posted ($0.01) EPS. As a group, equities analysts expect that IAMGOLD will post 0.49 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on IAG. CIBC upped their price objective on IAMGOLD from $4.90 to $5.40 and gave the stock a “neutral” rating in a report on Monday, August 12th. National Bank Financial upgraded shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Scotiabank boosted their target price on shares of IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a report on Monday, August 19th. Finally, StockNews.com raised shares of IAMGOLD from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.73.

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.