IAMGOLD Co. (NYSE:IAG) Short Interest Update

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) saw a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 6,820,000 shares, a growth of 23.3% from the November 30th total of 5,530,000 shares. Based on an average daily volume of 8,150,000 shares, the days-to-cover ratio is currently 0.8 days. Currently, 1.2% of the shares of the company are sold short.

Wall Street Analyst Weigh In

IAG has been the topic of a number of recent analyst reports. Cibc World Mkts raised shares of IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating and lifted their price target for the stock from $7.75 to $10.50 in a research note on Tuesday, October 22nd. Canaccord Genuity Group upgraded IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Royal Bank of Canada restated a “sector perform” rating and issued a $6.00 price objective on shares of IAMGOLD in a research report on Tuesday, October 22nd. Finally, National Bank Financial raised IAMGOLD from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. Two equities research analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, IAMGOLD presently has an average rating of “Moderate Buy” and a consensus target price of $6.68.

Institutional Investors Weigh In On IAMGOLD

Hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp lifted its holdings in shares of IAMGOLD by 8.8% during the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock worth $276,639,000 after purchasing an additional 4,267,084 shares during the period. Two Sigma Advisers LP raised its holdings in shares of IAMGOLD by 58.8% during the third quarter. Two Sigma Advisers LP now owns 10,083,115 shares of the mining company’s stock valued at $52,735,000 after acquiring an additional 3,732,315 shares during the last quarter. FMR LLC lifted its holdings in IAMGOLD by 107.9% in the 3rd quarter. FMR LLC now owns 8,819,600 shares of the mining company’s stock valued at $46,174,000 after purchasing an additional 4,577,599 shares in the last quarter. Millennium Management LLC boosted its position in IAMGOLD by 194.2% during the second quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company’s stock worth $29,573,000 after acquiring an additional 5,204,715 shares during the last quarter. Finally, American Century Companies Inc. grew its position in shares of IAMGOLD by 28.6% in the second quarter. American Century Companies Inc. now owns 5,708,298 shares of the mining company’s stock valued at $21,423,000 after purchasing an additional 1,270,608 shares in the last quarter. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

IAMGOLD Trading Up 1.4 %

Shares of NYSE IAG traded up $0.07 during trading hours on Tuesday, hitting $5.13. 1,793,730 shares of the company traded hands, compared to its average volume of 8,741,797. The stock has a market capitalization of $2.93 billion, a price-to-earnings ratio of 4.01 and a beta of 1.56. IAMGOLD has a 12 month low of $2.23 and a 12 month high of $6.37. The company’s 50 day moving average price is $5.43 and its 200 day moving average price is $4.88. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24.

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.