Short Interest in IAMGOLD Co. (NYSE:IAG) Grows By 35.1%

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

Institutional Trading of IAMGOLD

Several hedge funds and other institutional investors have recently made changes to their positions in IAG. Allspring Global Investments Holdings LLC grew its holdings in IAMGOLD by 27.4% during the 4th 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 last quarter. BNP Paribas Financial Markets lifted its holdings in shares of IAMGOLD by 368.1% during the third quarter. BNP Paribas Financial Markets now owns 1,521,670 shares of the mining company's stock worth $7,772,000 after purchasing an additional 1,196,564 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of IAMGOLD by 158.1% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company's stock worth $24,301,000 after purchasing an additional 2,839,556 shares during the last quarter. Cibc World Market Inc. increased its holdings in IAMGOLD by 54.0% in the fourth quarter. Cibc World Market Inc. now owns 5,119,599 shares of the mining company's stock valued at $26,452,000 after purchasing an additional 1,795,869 shares during the period. Finally, Triasima Portfolio Management inc. lifted its position in shares of IAMGOLD by 44.5% during the 4th quarter. Triasima Portfolio Management inc. now owns 352,315 shares of the mining company's stock valued at $1,820,000 after acquiring an additional 108,524 shares during the period. 47.08% of the stock is currently owned by institutional investors.

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Analyst Upgrades and Downgrades

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

IAMGOLD Stock Performance

Shares of IAG stock traded down $0.16 on Friday, hitting $6.05. The company's stock had a trading volume of 8,806,702 shares, compared to its average volume of 9,533,788. IAMGOLD has a fifty-two week low of $2.94 and a fifty-two week high of $6.69. The company has a market capitalization of $3.46 billion, a PE ratio of 4.17 and a beta of 1.63. The stock's 50 day moving average is $5.92 and its 200-day moving average is $5.53. 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 issued 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 company had revenue of $469.90 million during the quarter, compared to the consensus estimate of $498.68 million. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. Equities research analysts expect that IAMGOLD will post 0.67 earnings per share for the current fiscal year.

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.