IAMGOLD Co. (NYSE:IAG) Short Interest Update

IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG was the target of a significant growth in short interest in October. As of October 15th, there was short interest totalling 9,060,000 shares, a growth of 56.5% from the September 30th total of 5,790,000 shares. Based on an average daily volume of 9,390,000 shares, the short-interest ratio is currently 1.0 days. Approximately 1.6% of the shares of the stock are sold short.

Analysts Set New Price Targets

A number of research firms have weighed in on IAG. Canaccord Genuity Group upgraded IAMGOLD from a "hold" rating to a "buy" rating and raised their price target for the company from $7.75 to $10.50 in a research report on Tuesday, October 22nd. Canaccord Genuity Group raised IAMGOLD from a "hold" rating to a "buy" rating in a research note 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. Scotiabank raised their price objective on IAMGOLD from $4.75 to $5.50 and gave the company a "sector perform" rating in a research note on Monday, August 19th. Finally, StockNews.com raised IAMGOLD from a "sell" rating to a "hold" rating in a research note on Saturday, August 17th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $6.07.

IAMGOLD Trading Down 3.7 %

Shares of NYSE IAG traded down $0.22 during trading hours on Friday, hitting $5.77. The company's stock had a trading volume of 6,516,734 shares, compared to its average volume of 10,423,640. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.90 and a current ratio of 1.34. The stock has a market cap of $3.28 billion, a price-to-earnings ratio of 20.61 and a beta of 1.59. IAMGOLD has a 12 month low of $2.11 and a 12 month high of $6.37. The business has a 50-day simple moving average of $5.20 and a 200-day simple moving average of $4.38.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last posted its earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.08. The company had revenue of $385.30 million for the quarter. IAMGOLD had a return on equity of 6.70% and a net margin of 10.36%. During the same period in the previous year, the business earned ($0.01) earnings per share. On average, analysts anticipate that IAMGOLD will post 0.51 earnings per share for the current fiscal year.

Institutional Trading of IAMGOLD

Several large investors have recently modified their holdings of the business. ORG Partners LLC purchased a new position in shares of IAMGOLD during the 3rd quarter worth approximately $29,000. Eastern Bank purchased a new position in shares of IAMGOLD during the 3rd quarter worth approximately $30,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of IAMGOLD by 3.0% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 306,980 shares of the mining company's stock worth $1,154,000 after acquiring an additional 8,972 shares during the period. Continuum Advisory LLC grew its holdings in shares of IAMGOLD by 92.9% during the 2nd quarter. Continuum Advisory LLC now owns 20,450 shares of the mining company's stock worth $77,000 after acquiring an additional 9,850 shares during the period. Finally, TIAA Trust National Association purchased a new position in shares of IAMGOLD during the 2nd quarter worth approximately $38,000. 47.08% of the stock is owned by institutional investors.

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.