IAMGOLD Co. (NYSE:IAG) Short Interest Update

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) saw a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 10,020,000 shares, a growth of 36.1% from the April 30th total of 7,360,000 shares. Currently, 1.8% of the shares of the stock are short sold. Based on an average daily volume of 14,350,000 shares, the short-interest ratio is currently 0.7 days.

IAMGOLD Trading Up 1.1%

NYSE IAG opened at $7.55 on Wednesday. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. IAMGOLD has a 52 week low of $3.44 and a 52 week high of $8.38. The business has a 50 day moving average price of $6.81 and a 200-day moving average price of $6.10. The company has a market cap of $4.34 billion, a price-to-earnings ratio of 5.21 and a beta of 1.20.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its earnings results on Tuesday, May 6th. The mining company reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $457.23 million during the quarter, compared to the consensus estimate of $578.70 million. IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. As a group, equities analysts expect that IAMGOLD will post 0.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

IAG has been the topic of a number of recent analyst reports. Raymond James reissued a “market perform” rating and issued a $8.00 price objective on shares of IAMGOLD in a research note on Friday, April 4th. National Bank Financial raised IAMGOLD to a “strong-buy” rating in a report on Friday, March 21st. Wall Street Zen lowered IAMGOLD from a “buy” rating to a “hold” rating in a research note on Thursday, February 27th. BMO Capital Markets initiated coverage on IAMGOLD in a research note on Wednesday, April 16th. They set an “outperform” rating for the company. Finally, Scotiabank raised their price target on shares of IAMGOLD from $7.50 to $7.75 and gave the company a “sector perform” rating in a research note on Monday, May 12th. Four analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, IAMGOLD has a consensus rating of “Moderate Buy” and a consensus target price of $7.74.

Institutional Trading of IAMGOLD

A number of hedge funds have recently bought and sold shares of the business. RCF Management L.L.C. bought a new position in shares of IAMGOLD during the 4th quarter valued at approximately $128,174,000. T. Rowe Price Investment Management Inc. purchased a new position in IAMGOLD in the first quarter valued at approximately $45,911,000. Millennium Management LLC lifted 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 valued at $53,307,000 after purchasing an additional 4,846,254 shares during the last quarter. Nuveen LLC bought a new position in IAMGOLD during the first quarter valued at $20,620,000. Finally, Anson Funds Management LP increased its position in IAMGOLD by 2,100.0% in the first quarter. Anson Funds Management LP now owns 3,300,000 shares of the mining company’s stock worth $20,598,000 after buying an additional 3,150,000 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.