Short Interest in IAMGOLD Co. (NYSE:IAG) Increases By 5.1%

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) saw a significant growth in short interest in August. As of August 31st, there was short interest totalling 4,540,000 shares, a growth of 5.1% from the August 15th total of 4,320,000 shares. Based on an average trading volume of 8,750,000 shares, the short-interest ratio is presently 0.5 days. Approximately 0.8% of the shares of the stock are short sold.

Analyst Ratings Changes

Several brokerages recently issued reports on IAG. Scotiabank upped their target price on shares of IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. BMO Capital Markets restated an “outperform” rating and set a $5.00 price target on shares of IAMGOLD in a research report on Thursday, June 6th. CIBC upped their price target on shares of IAMGOLD from $4.90 to $5.40 and gave the company a “neutral” rating in a research report on Monday, August 12th. Finally, StockNews.com upgraded shares of IAMGOLD from a “sell” rating to a “hold” rating in a research report on Saturday, August 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $4.73.

Hedge Funds Weigh In On IAMGOLD

Hedge funds and other institutional investors have recently modified their holdings of the company. TIAA Trust National Association bought a new position in shares of IAMGOLD during the second quarter valued at about $38,000. Dynamic Technology Lab Private Ltd bought a new position in IAMGOLD in the fourth quarter worth about $29,000. Vanguard Personalized Indexing Management LLC bought a new position in IAMGOLD in the fourth quarter worth about $33,000. WINTON GROUP Ltd bought a new position in IAMGOLD in the second quarter worth about $52,000. Finally, Banque Cantonale Vaudoise bought a new position in IAMGOLD in the second quarter worth about $56,000. 47.08% of the stock is owned by institutional investors.

IAMGOLD Stock Performance

Shares of NYSE:IAG opened at $5.46 on Tuesday. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 19.50 and a beta of 1.58. The company has a 50-day moving average price of $4.54 and a 200-day moving average price of $3.96. The company has a current ratio of 1.34, a quick ratio of 0.90 and a debt-to-equity ratio of 0.30. IAMGOLD has a 12 month low of $1.99 and a 12 month high of $5.56.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Thursday, August 8th. The mining company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.08 by $0.08. The firm had revenue of $385.30 million during the quarter. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. During the same period last year, the company posted ($0.01) earnings per share. As a group, equities analysts anticipate that IAMGOLD will post 0.41 EPS for the current year.

About IAMGOLD

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.