Short Interest in IAMGOLD Co. (NYSE:IAG) Decreases By 8.5%

IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG was the target of a significant 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. Currently, 1.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 7,810,000 shares, the days-to-cover ratio is presently 0.8 days.

Institutional Trading of IAMGOLD

A number of large investors have recently made changes to their positions in the company. ORG Partners LLC bought a new position in IAMGOLD in the third quarter valued at approximately $29,000. Eastern Bank bought a new stake in IAMGOLD in the 3rd quarter valued at $30,000. Aigen Investment Management LP boosted its stake in IAMGOLD by 10.6% in the 3rd quarter. Aigen Investment Management LP now owns 70,244 shares of the mining company's stock worth $368,000 after purchasing an additional 6,704 shares during the period. Geode Capital Management LLC increased its holdings in IAMGOLD by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 264,288 shares of the mining company's stock worth $1,392,000 after purchasing an additional 6,874 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its stake in shares of IAMGOLD by 3.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 306,980 shares of the mining company's stock valued at $1,154,000 after purchasing an additional 8,972 shares during the period. Institutional investors own 47.08% of the company's stock.

Analyst Ratings Changes

IAG has been the topic of a number of research analyst reports. StockNews.com lowered shares of IAMGOLD from a "buy" rating to a "hold" rating in a report on Wednesday. Royal Bank of Canada reissued a "sector perform" rating and issued a $6.00 price target on shares of IAMGOLD in a report on Tuesday, October 22nd. Canaccord Genuity Group upgraded IAMGOLD from a "hold" rating to a "buy" rating and increased their price objective for the company from $7.75 to $10.50 in a research report on Tuesday, October 22nd. National Bank Financial raised IAMGOLD from a "sector perform" rating to an "outperform" rating in a research note on Thursday, October 10th. Finally, Canaccord Genuity Group upgraded shares of IAMGOLD from a "hold" rating to a "buy" rating in a research report on Tuesday, October 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, IAMGOLD has a consensus rating of "Moderate Buy" and a consensus target price of $6.57.

IAMGOLD Trading Up 2.7 %

Shares of NYSE:IAG traded up $0.15 during mid-day trading on Friday, reaching $5.60. The stock had a trading volume of 11,591,368 shares, compared to its average volume of 6,144,788. IAMGOLD has a twelve month low of $2.23 and a twelve month high of $6.37. 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 firm has a market cap of $3.20 billion, a PE ratio of 4.37 and a beta of 1.56. The firm has a 50 day simple moving average of $5.39 and a two-hundred day simple moving average of $5.03.

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.