IAMGOLD Co. (NYSE:IAG) Short Interest Update

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totalling 4,540,000 shares, a growth of 5.1% from the August 15th total of 4,320,000 shares. Based on an average daily trading volume, of 8,750,000 shares, the short-interest ratio is presently 0.5 days. Approximately 0.8% of the shares of the company are short sold.

Institutional Trading of IAMGOLD

Institutional investors have recently modified their holdings of the company. Dynamic Technology Lab Private Ltd acquired a new position in shares of IAMGOLD during the 4th quarter worth about $29,000. Vanguard Personalized Indexing Management LLC bought a new position in shares of IAMGOLD in the fourth quarter valued at $33,000. TIAA Trust National Association acquired a new position in IAMGOLD during the second quarter worth $38,000. Cetera Advisors LLC bought a new stake in IAMGOLD during the first quarter worth $50,000. Finally, WINTON GROUP Ltd acquired a new stake in IAMGOLD in the second quarter valued at $52,000. 47.08% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on IAG shares. StockNews.com raised IAMGOLD from a “sell” rating to a “hold” rating in a report on Saturday, August 17th. CIBC increased 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. Scotiabank upped their price target on shares of IAMGOLD from $4.75 to $5.50 and gave the stock a “sector perform” rating in a research report on Monday, August 19th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $5.00 price objective on shares of IAMGOLD in a research report on Thursday, June 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $4.73.

IAMGOLD Trading Down 2.0 %

Shares of NYSE IAG traded down $0.11 during midday trading on Wednesday, reaching $5.29. 8,008,690 shares of the stock were exchanged, compared to its average volume of 9,034,589. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 19.27 and a beta of 1.58. IAMGOLD has a 12 month low of $1.99 and a 12 month high of $5.57. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.34 and a quick ratio of 0.90. The business has a 50-day simple moving average of $4.57 and a two-hundred day simple moving average of $3.98.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.08. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. The firm had revenue of $385.30 million for the quarter. During the same period in the previous year, the firm posted ($0.01) EPS. As a group, equities research analysts expect that IAMGOLD will post 0.41 EPS 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.