IAMGOLD Co. (NYSE:IAG) Short Interest Up 35.1% in February

IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG saw a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 8,700,000 shares, an increase of 35.1% from the February 13th total of 6,440,000 shares. Currently, 1.6% of the company's shares are short sold. Based on an average trading volume of 10,590,000 shares, the days-to-cover ratio is currently 0.8 days.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on IAG shares. Cibc World Mkts raised shares of IAMGOLD from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 2nd. Raymond James raised IAMGOLD from a "strong sell" rating to a "hold" rating in a research note on Monday, February 3rd. CIBC raised their price target on IAMGOLD from $7.60 to $8.40 and gave the stock an "outperformer" rating in a research report on Thursday. Finally, StockNews.com cut IAMGOLD from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $6.90.

Remove Ads

IAMGOLD Stock Up 1.7 %

Shares of IAMGOLD stock traded up $0.11 on Thursday, reaching $6.23. 11,819,649 shares of the company were exchanged, compared to its average volume of 9,521,269. IAMGOLD has a one year low of $2.90 and a one year high of $6.69. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The company has a 50-day moving average of $5.91 and a 200 day moving average of $5.52. The company has a market capitalization of $3.56 billion, a price-to-earnings ratio of 4.27 and a beta of 1.63.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last announced its quarterly earnings results on Thursday, February 20th. The mining company reported $0.10 EPS for the quarter, missing analysts' consensus estimates of $0.15 by ($0.05). The firm had revenue of $469.90 million during the quarter, compared to analyst estimates of $498.68 million. IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. On average, equities research analysts forecast that IAMGOLD will post 0.67 earnings per share for the current year.

Hedge Funds Weigh In On IAMGOLD

A number of institutional investors have recently bought and sold shares of IAG. Tobam bought a new stake in IAMGOLD in the 4th quarter valued at $25,000. Blue Trust Inc. lifted its position in IAMGOLD by 157.1% during the fourth quarter. Blue Trust Inc. now owns 9,018 shares of the mining company's stock worth $47,000 after acquiring an additional 5,511 shares during the last quarter. Raab & Moskowitz Asset Management LLC bought a new position in shares of IAMGOLD during the fourth quarter worth approximately $56,000. Atria Wealth Solutions Inc. bought a new stake in IAMGOLD in the 4th quarter valued at $68,000. Finally, Choreo LLC acquired a new position in IAMGOLD in the 4th quarter valued at $88,000. Institutional investors and hedge funds own 47.08% of the company's stock.

About IAMGOLD

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.