IAMGOLD Co. (NYSE:IAG) Sees Significant Drop in Short Interest

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) was the recipient of a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 8,010,000 shares, a drop of 9.7% from the March 15th total of 8,870,000 shares. Approximately 1.6% of the shares of the company are sold short. Based on an average daily trading volume, of 8,450,000 shares, the short-interest ratio is currently 0.9 days.

IAMGOLD Stock Performance

Shares of IAG traded up $0.16 during trading hours on Wednesday, reaching $3.70. 11,410,974 shares of the company’s stock traded hands, compared to its average volume of 8,914,254. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of 18.63, a P/E/G ratio of 1.23 and a beta of 1.70. 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 twelve month low of $1.99 and a twelve month high of $3.92. The business’s fifty day simple moving average is $3.02 and its two-hundred day simple moving average is $2.63.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings results on Thursday, February 15th. The mining company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The company had revenue of $297.60 million for the quarter. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. Analysts predict that IAMGOLD will post 0.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on IAG shares. BMO Capital Markets increased their target price on IAMGOLD from $4.00 to $4.25 and gave the stock an “outperform” rating in a research report on Friday, April 5th. CIBC increased their target price on IAMGOLD from $3.00 to $3.10 and gave the stock a “neutral” rating in a research report on Wednesday, February 7th. National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of IAMGOLD in a research report on Monday, April 8th. Finally, StockNews.com raised IAMGOLD from a “sell” rating to a “hold” rating in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, IAMGOLD currently has an average rating of “Hold” and an average price target of $3.52.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Van ECK Associates Corp boosted its stake in IAMGOLD by 2.9% during the fourth quarter. Van ECK Associates Corp now owns 48,117,785 shares of the mining company’s stock valued at $121,736,000 after buying an additional 1,368,491 shares in the last quarter. Donald Smith & CO. Inc. boosted its stake in IAMGOLD by 13.9% during the fourth quarter. Donald Smith & CO. Inc. now owns 35,778,309 shares of the mining company’s stock valued at $90,519,000 after buying an additional 4,358,444 shares in the last quarter. Vanguard Group Inc. boosted its stake in IAMGOLD by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 17,510,541 shares of the mining company’s stock valued at $44,302,000 after buying an additional 135,524 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of IAMGOLD by 0.7% in the 1st quarter. Renaissance Technologies LLC now owns 17,085,400 shares of the mining company’s stock valued at $46,308,000 after purchasing an additional 124,300 shares during the period. Finally, Helikon Investments Ltd acquired a new position in shares of IAMGOLD in the 4th quarter valued at $23,722,000. Institutional investors own 47.08% of the company’s stock.

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.