IAMGOLD Co. (NYSE:IAG) Short Interest Update

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) saw a large growth in short interest during 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. Approximately 1.6% of the shares of the stock are sold short. Based on an average daily volume of 10,590,000 shares, the short-interest ratio is presently 0.8 days.

Institutional Investors Weigh In On IAMGOLD

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tobam acquired a new position in shares of IAMGOLD in the fourth quarter worth $25,000. Blue Trust Inc. grew its stake in IAMGOLD by 157.1% in the fourth quarter. Blue Trust Inc. now owns 9,018 shares of the mining company’s stock valued at $47,000 after purchasing an additional 5,511 shares in the last quarter. Raab & Moskowitz Asset Management LLC acquired a new position in IAMGOLD in the 4th quarter worth about $56,000. Atria Wealth Solutions Inc. purchased a new stake in shares of IAMGOLD during the 4th quarter worth about $68,000. Finally, Choreo LLC acquired a new stake in shares of IAMGOLD during the 4th quarter valued at about $88,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on IAG. Raymond James upgraded shares of IAMGOLD from a “strong sell” rating to a “hold” rating in a report on Monday, February 3rd. Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. CIBC raised IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday, December 2nd. Finally, StockNews.com lowered IAMGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Four 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 company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.57.

IAMGOLD Stock Up 2.3 %

Shares of IAG stock traded up $0.14 on Friday, reaching $5.91. 9,105,753 shares of the company’s stock traded hands, compared to its average volume of 12,212,705. The company has a market capitalization of $3.38 billion, a P/E ratio of 4.07 and a beta of 1.63. IAMGOLD has a 12-month low of $2.90 and a 12-month high of $6.69. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89. The business’s 50 day moving average price is $5.88 and its two-hundred day moving average price is $5.50.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued 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 business had revenue of $469.90 million during the quarter, compared to analyst estimates of $498.68 million. IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. On average, equities analysts forecast that IAMGOLD will post 0.67 earnings per share for the current year.

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.