IAMGOLD Co. (NYSE:IAG) Short Interest Down 22.4% in March

IAMGOLD Co. (NYSE:IAGGet Free Report) (TSE:IMG) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 8,870,000 shares, a decline of 22.4% from the February 29th total of 11,430,000 shares. Based on an average daily volume of 7,710,000 shares, the days-to-cover ratio is presently 1.2 days. Currently, 1.8% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IAG. JPMorgan Chase & Co. lifted its holdings in shares of IAMGOLD by 416.9% during the 1st quarter. JPMorgan Chase & Co. now owns 2,430,863 shares of the mining company’s stock valued at $8,459,000 after purchasing an additional 1,960,562 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its stake in IAMGOLD by 2.3% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 488,427 shares of the mining company’s stock valued at $1,700,000 after buying an additional 11,047 shares in the last quarter. Private Advisor Group LLC acquired a new position in shares of IAMGOLD in the first quarter valued at approximately $41,000. Citigroup Inc. bought a new stake in shares of IAMGOLD during the first quarter worth $31,000. Finally, Great West Life Assurance Co. Can raised its holdings in shares of IAMGOLD by 23.0% during the first quarter. Great West Life Assurance Co. Can now owns 36,927 shares of the mining company’s stock worth $137,000 after acquiring an additional 6,913 shares during the period. 47.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on IAG. StockNews.com downgraded shares of IAMGOLD from a “hold” rating to a “sell” rating in a research report on Monday, February 19th. National Bank Financial restated a “sector perform spec overwgt” rating on shares of IAMGOLD in a report on Wednesday, January 3rd. Finally, CIBC lifted their target price on shares of IAMGOLD from $3.00 to $3.10 and gave the stock a “neutral” rating in a report on Wednesday, February 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $3.31.

Read Our Latest Stock Analysis on IAG

IAMGOLD Stock Performance

Shares of NYSE:IAG opened at $3.33 on Friday. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 1.95 and a beta of 1.67. The firm’s 50 day simple moving average is $2.74 and its 200 day simple moving average is $2.51. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.77. IAMGOLD has a fifty-two week low of $1.99 and a fifty-two week high of $3.39.

IAMGOLD (NYSE:IAGGet Free Report) (TSE:IMG) last posted its earnings results on Thursday, February 15th. The mining company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.04. IAMGOLD had a net margin of 9.55% and a return on equity of 1.97%. The company had revenue of $297.60 million for the quarter. As a group, sell-side analysts forecast that IAMGOLD will post 0.04 earnings per share for the current year.

IAMGOLD Company Profile

(Get Free Report)

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.

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