IAMGOLD Co. (NYSE:IAG) Short Interest Down 16.8% in April

IAMGOLD Co. (NYSE:IAGGet Rating) (TSE:IMG) saw a significant decrease in short interest in the month of April. As of April 15th, there was short interest totalling 6,000,000 shares, a decrease of 16.8% from the March 31st total of 7,210,000 shares. Approximately 1.3% of the company’s shares are short sold. Based on an average daily trading volume, of 7,370,000 shares, the days-to-cover ratio is presently 0.8 days.

Shares of IAG opened at $2.79 on Wednesday. The stock has a fifty day moving average price of $3.30. IAMGOLD has a 12-month low of $2.16 and a 12-month high of $3.85. The company has a current ratio of 1.63, a quick ratio of 1.12 and a debt-to-equity ratio of 0.20.

IAMGOLD (NYSE:IAGGet Rating) (TSE:IMG) last released its quarterly earnings data on Wednesday, February 23rd. The mining company reported $0.09 earnings per share for the quarter. The firm had revenue of $294.60 million for the quarter, compared to analyst estimates of $296.07 million. IAMGOLD had a negative net margin of 22.09% and a positive return on equity of 1.07%. During the same period last year, the firm earned $0.04 earnings per share. As a group, sell-side analysts forecast that IAMGOLD will post 0.04 earnings per share for the current fiscal year.

A number of brokerages have commented on IAG. Raymond James set a $3.00 price target on shares of IAMGOLD and gave the company a “market perform” rating in a research report on Friday, February 25th. Stifel Nicolaus decreased their target price on IAMGOLD from C$3.50 to C$3.25 in a research note on Wednesday, April 27th. National Bank Financial boosted their price target on IAMGOLD from C$5.00 to C$5.50 in a research note on Wednesday, April 20th. Royal Bank of Canada cut IAMGOLD from a “sector perform” rating to an “underperform” rating and set a $2.00 price target on the stock. in a report on Wednesday, April 20th. Finally, TD Securities dropped their target price on shares of IAMGOLD from C$6.00 to C$5.00 in a research report on Friday, January 14th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $3.48.

A number of institutional investors and hedge funds have recently modified their holdings of IAG. Perfromance Wealth Partners LLC bought a new position in shares of IAMGOLD in the first quarter valued at approximately $37,000. Optimum Investment Advisors bought a new position in IAMGOLD during the 4th quarter valued at $47,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in IAMGOLD by 28.7% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 19,511 shares of the mining company’s stock valued at $44,000 after acquiring an additional 4,350 shares in the last quarter. LPL Financial LLC boosted its holdings in IAMGOLD by 47.1% during the 3rd quarter. LPL Financial LLC now owns 28,206 shares of the mining company’s stock worth $64,000 after acquiring an additional 9,025 shares during the last quarter. Finally, Raymond James & Associates bought a new stake in shares of IAMGOLD in the 4th quarter worth $102,000. 49.21% of the stock is owned by hedge funds and other institutional investors.

About IAMGOLD (Get Rating)

IAMGOLD Corporation, through its subsidiaries, explores, develops, and operates gold mining properties in North America, South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine situated in Burkina Faso and Boto gold project located in Senegal, West Africa; and Westwood mine, covers an area of 1,925 hectare and located in Quebec and the Côté gold project, which covers an area of 586 square kilometer located in Ontario, Canada.

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