Short Interest in IAMGOLD Co. (NYSE:IAG) Decreases By 8.5%

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) was the target of a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 6,240,000 shares, a decrease of 8.5% from the December 15th total of 6,820,000 shares. Based on an average daily volume of 7,810,000 shares, the days-to-cover ratio is presently 0.8 days. Approximately 1.1% of the shares of the stock are short sold.

IAMGOLD Trading Up 2.7 %

IAMGOLD stock opened at $5.60 on Monday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61. The firm has a 50-day moving average of $5.39 and a 200-day moving average of $5.05. The company has a market cap of $3.20 billion, a price-to-earnings ratio of 4.37 and a beta of 1.56. IAMGOLD has a one year low of $2.23 and a one year high of $6.37.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Raymond James decreased their price objective on shares of IAMGOLD from $6.50 to $6.00 and set an “underperform” rating on the stock in a report on Wednesday, January 15th. StockNews.com downgraded shares of IAMGOLD from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th. National Bank Financial raised shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 price target on shares of IAMGOLD in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $6.57.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IAG. ORG Partners LLC bought a new position in shares of IAMGOLD in the third quarter valued at $29,000. Eastern Bank acquired a new stake in IAMGOLD in the 3rd quarter valued at about $30,000. Aigen Investment Management LP increased its position in IAMGOLD by 10.6% during the third quarter. Aigen Investment Management LP now owns 70,244 shares of the mining company’s stock worth $368,000 after buying an additional 6,704 shares during the last quarter. Geode Capital Management LLC raised its stake in IAMGOLD by 2.7% in the third quarter. Geode Capital Management LLC now owns 264,288 shares of the mining company’s stock valued at $1,392,000 after buying an additional 6,874 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its position in shares of IAMGOLD by 3.0% in the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 306,980 shares of the mining company’s stock valued at $1,154,000 after buying an additional 8,972 shares during the last quarter. 47.08% of the stock is currently owned by institutional investors.

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.