IAMGOLD Co. (NYSE:IAG) Short Interest Down 6.2% in September

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) saw a significant decline in short interest in the month of September. As of September 30th, there was short interest totalling 5,790,000 shares, a decline of 6.2% from the September 15th total of 6,170,000 shares. Based on an average trading volume of 9,380,000 shares, the days-to-cover ratio is currently 0.6 days. Approximately 1.0% of the company’s shares are sold short.

Analysts Set New Price Targets

A number of research firms recently commented on IAG. Scotiabank lifted their price objective on IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a research note on Monday, August 19th. CIBC lifted their target price on IAMGOLD from $4.90 to $5.40 and gave the stock a “neutral” rating in a report on Monday, August 12th. National Bank Financial upgraded IAMGOLD from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. Finally, StockNews.com upgraded IAMGOLD from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $4.73.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of IAG. ORG Partners LLC bought a new position in IAMGOLD in the 3rd quarter worth about $29,000. TIAA Trust National Association purchased a new stake in shares of IAMGOLD in the 2nd quarter valued at about $38,000. WINTON GROUP Ltd purchased a new stake in shares of IAMGOLD in the 2nd quarter valued at about $52,000. Banque Cantonale Vaudoise purchased a new stake in shares of IAMGOLD in the 2nd quarter valued at about $56,000. Finally, Cetera Advisors LLC purchased a new stake in shares of IAMGOLD in the 1st quarter valued at about $50,000. Hedge funds and other institutional investors own 47.08% of the company’s stock.

IAMGOLD Stock Up 1.0 %

IAMGOLD stock traded up $0.05 during trading on Thursday, hitting $5.13. 4,428,019 shares of the company were exchanged, compared to its average volume of 9,044,384. The business’s 50 day moving average is $5.03 and its 200 day moving average is $4.27. IAMGOLD has a 52 week low of $2.11 and a 52 week high of $5.60. The company has a market capitalization of $2.92 billion, a P/E ratio of 18.14 and a beta of 1.59. 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 (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.08. IAMGOLD had a return on equity of 6.70% and a net margin of 10.36%. The business had revenue of $385.30 million during the quarter. During the same quarter last year, the company posted ($0.01) EPS. Analysts predict that IAMGOLD will post 0.49 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.