Short Interest in IAMGOLD Co. (NYSE:IAG) Grows By 35.1%

IAMGOLD Co. (NYSE:IAGGet Free Report) (TSE:IMG) saw a significant growth in short interest in the month of February. As of February 28th, there was short interest totalling 8,700,000 shares, a growth of 35.1% from the February 13th total of 6,440,000 shares. Based on an average daily volume of 10,590,000 shares, the days-to-cover ratio is currently 0.8 days. Approximately 1.6% of the company’s stock are short sold.

IAMGOLD Price Performance

Shares of IAG traded up $0.18 during trading hours on Monday, reaching $6.07. 10,302,598 shares of the company’s stock traded hands, compared to its average volume of 9,427,703. The stock has a market cap of $3.47 billion, a PE ratio of 4.18 and a beta of 1.63. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The firm’s 50 day simple moving average is $5.89 and its 200-day simple moving average is $5.51. IAMGOLD has a 12 month low of $2.90 and a 12 month high of $6.69.

IAMGOLD (NYSE:IAGGet Free Report) (TSE:IMG) last released its earnings results on Thursday, February 20th. The mining company reported $0.10 earnings per share for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.05). The firm had revenue of $469.90 million during the quarter, compared to the consensus estimate of $498.68 million. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. Equities analysts expect that IAMGOLD will post 0.67 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Raymond James raised IAMGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, February 3rd. Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. CIBC raised IAMGOLD from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 2nd. Finally, StockNews.com lowered IAMGOLD from a “buy” rating to a “hold” rating in a report on Thursday, February 27th. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $6.57.

Read Our Latest Analysis on IAG

Hedge Funds Weigh In On IAMGOLD

A number of large investors have recently bought and sold shares of the stock. Donald Smith & CO. Inc. increased its stake in IAMGOLD by 0.7% in the 4th quarter. Donald Smith & CO. Inc. now owns 31,233,874 shares of the mining company’s stock worth $161,167,000 after purchasing an additional 216,751 shares during the period. RCF Management L.L.C. purchased a new stake in IAMGOLD in the fourth quarter worth $128,174,000. Vanguard Group Inc. grew its stake in IAMGOLD by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 21,232,871 shares of the mining company’s stock worth $109,741,000 after purchasing an additional 321,458 shares during the period. Millennium Management LLC grew its stake in IAMGOLD by 88.4% in the fourth quarter. Millennium Management LLC now owns 10,330,194 shares of the mining company’s stock worth $53,307,000 after purchasing an additional 4,846,254 shares during the period. Finally, American Century Companies Inc. grew its stake in IAMGOLD by 25.9% in the fourth quarter. American Century Companies Inc. now owns 10,162,314 shares of the mining company’s stock worth $52,499,000 after purchasing an additional 2,092,803 shares during the period. 47.08% of the stock is owned by hedge funds and other institutional investors.

About IAMGOLD

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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.

Further Reading

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