IAMGOLD Co. (NYSE:IAG) Short Interest Down 8.5% in December

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) was the target of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 6,240,000 shares, a decline of 8.5% from the December 15th total of 6,820,000 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average daily trading volume, of 7,810,000 shares, the short-interest ratio is presently 0.8 days.

IAMGOLD Stock Up 2.7 %

IAG opened at $5.60 on Friday. IAMGOLD has a fifty-two week low of $2.23 and a fifty-two week high of $6.37. 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 stock has a market cap of $3.20 billion, a price-to-earnings ratio of 4.37 and a beta of 1.56. The firm’s fifty day moving average is $5.39 and its 200 day moving average is $5.03.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on IAG shares. Cibc World Mkts upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. StockNews.com downgraded shares of IAMGOLD from a “buy” rating to a “hold” rating in a research report on Wednesday. Royal Bank of Canada reissued a “sector perform” rating and set a $6.00 price objective on shares of IAMGOLD in a research report on Tuesday, October 22nd. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating and raised their target price for the stock from $7.75 to $10.50 in a report on Tuesday, October 22nd. Finally, National Bank Financial raised IAMGOLD from a “sector perform” rating to an “outperform” rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $6.57.

Hedge Funds Weigh In On IAMGOLD

Large investors have recently made changes to their positions in the business. ORG Partners LLC purchased a new stake in shares of IAMGOLD during the third quarter worth about $29,000. Eastern Bank purchased a new stake in IAMGOLD during the 3rd quarter valued at approximately $30,000. WINTON GROUP Ltd bought a new stake in shares of IAMGOLD during the second quarter valued at approximately $52,000. Flow Traders U.S. LLC bought a new stake in shares of IAMGOLD during the third quarter valued at approximately $93,000. Finally, Verition Fund Management LLC purchased a new position in shares of IAMGOLD in the third quarter worth $114,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

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.