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

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) was the recipient of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 3,790,000 shares, a growth of 6.5% from the June 30th total of 3,560,000 shares. Approximately 0.8% of the company’s shares are short sold. Based on an average trading volume of 9,240,000 shares, the short-interest ratio is currently 0.4 days.

IAMGOLD Stock Down 1.0 %

IAG stock traded down $0.04 during trading on Thursday, reaching $4.08. The stock had a trading volume of 7,776,379 shares, compared to its average volume of 9,074,685. IAMGOLD has a 1-year low of $1.99 and a 1-year high of $4.59. The company has a current ratio of 0.91, a quick ratio of 0.55 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $2.32 billion, a P/E ratio of 14.36 and a beta of 1.56. The firm has a fifty day moving average price of $3.89 and a 200 day moving average price of $3.42.

IAMGOLD (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Thursday, May 9th. The mining company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.09. The firm had revenue of $338.90 million for the quarter. IAMGOLD had a net margin of 12.48% and a return on equity of 3.17%. During the same quarter in the prior year, the firm earned $0.05 EPS. On average, equities analysts anticipate that IAMGOLD will post 0.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

IAG has been the subject of several research reports. StockNews.com raised shares of IAMGOLD from a “sell” rating to a “hold” rating in a research note on Tuesday, July 9th. CIBC boosted their price objective on shares of IAMGOLD from $4.80 to $4.90 and gave the company a “neutral” rating in a research note on Wednesday, July 10th. BMO Capital Markets reissued an “outperform” rating and set a $5.00 price objective on shares of IAMGOLD in a research note on Thursday, June 6th. Scotiabank boosted their price objective on shares of IAMGOLD from $4.25 to $4.50 and gave the company a “sector perform” rating in a research note on Thursday, June 6th. Finally, National Bank Financial restated a “sector perform spec overwgt” rating on shares of IAMGOLD in a report on Monday, April 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $4.02.

Institutional Investors Weigh In On IAMGOLD

A number of institutional investors have recently modified their holdings of IAG. Helikon Investments Ltd raised its stake in shares of IAMGOLD by 250.5% in the 1st quarter. Helikon Investments Ltd now owns 32,861,554 shares of the mining company’s stock valued at $109,429,000 after purchasing an additional 23,485,183 shares in the last quarter. Donald Smith & CO. Inc. grew its position in shares of IAMGOLD by 13.9% during the 4th 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 during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of IAMGOLD during the 4th quarter valued at about $10,972,000. Van ECK Associates Corp grew its position in shares of IAMGOLD by 8.2% during the 1st quarter. Van ECK Associates Corp now owns 52,053,035 shares of the mining company’s stock valued at $173,340,000 after buying an additional 3,935,250 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of IAMGOLD during the 4th quarter valued at about $8,642,000. Institutional investors and hedge funds 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.