IAMGOLD Co. (NYSE:IAG) Short Interest Down 19.4% in March

IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG saw a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 7,830,000 shares, a decline of 19.4% from the March 15th total of 9,720,000 shares. Based on an average daily volume of 12,810,000 shares, the short-interest ratio is presently 0.6 days. Approximately 1.4% of the shares of the company are sold short.

IAMGOLD Stock Down 1.0 %

IAG stock traded down $0.08 during trading on Thursday, reaching $7.15. 1,580,932 shares of the company traded hands, compared to its average volume of 13,339,835. IAMGOLD has a 12 month low of $3.44 and a 12 month high of $8.38. The business has a 50 day simple moving average of $6.25 and a 200 day simple moving average of $5.79. The company has a market capitalization of $4.11 billion, a price-to-earnings ratio of 4.93 and a beta of 1.52. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.61 and a current ratio of 0.89.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last released 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). IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. The business had revenue of $469.90 million during the quarter, compared to analysts' expectations of $498.68 million. On average, equities research analysts anticipate that IAMGOLD will post 0.67 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of IAG. Allspring Global Investments Holdings LLC raised its position in IAMGOLD by 27.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,289,000 shares of the mining company's stock worth $6,654,000 after acquiring an additional 277,000 shares during the period. Cibc World Market Inc. raised its position in IAMGOLD by 54.0% during the fourth quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company's stock worth $26,452,000 after acquiring an additional 1,795,869 shares during the period. Triasima Portfolio Management inc. raised its position in IAMGOLD by 44.5% during the fourth quarter. Triasima Portfolio Management inc. now owns 352,315 shares of the mining company's stock worth $1,820,000 after acquiring an additional 108,524 shares during the period. JPMorgan Chase & Co. raised its position in IAMGOLD by 66.6% during the third quarter. JPMorgan Chase & Co. now owns 1,511,328 shares of the mining company's stock worth $7,904,000 after acquiring an additional 604,259 shares during the period. Finally, Atria Wealth Solutions Inc. acquired a new position in IAMGOLD during the fourth quarter worth $68,000. 47.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on IAG. StockNews.com lowered IAMGOLD from a "buy" rating to a "hold" rating in a report on Thursday, February 27th. Raymond James reissued a "market perform" rating and issued a $8.00 price target on shares of IAMGOLD in a report on Friday, April 4th. BMO Capital Markets assumed coverage on shares of IAMGOLD in a research report on Wednesday, April 16th. They set an "outperform" rating for the company. CIBC reaffirmed an "outperform" rating on shares of IAMGOLD in a research report on Thursday, March 20th. Finally, National Bank Financial upgraded shares of IAMGOLD to a "strong-buy" rating in a research note on Friday, March 21st. Four equities research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $7.57.

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.