IAMGOLD Co. (NYSE:IAG) Short Interest Update

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) was the recipient of a large decrease in short interest during the month of November. As of November 15th, there was short interest totalling 4,890,000 shares, a decrease of 9.8% from the October 31st total of 5,420,000 shares. Based on an average daily trading volume, of 8,410,000 shares, the short-interest ratio is presently 0.6 days. Approximately 0.9% of the shares of the company are short sold.

IAMGOLD Trading Up 5.4 %

Shares of IAG traded up $0.29 during trading hours on Tuesday, hitting $5.73. The company had a trading volume of 6,301,898 shares, compared to its average volume of 8,944,540. The firm has a market cap of $3.27 billion, a P/E ratio of 4.47 and a beta of 1.56. IAMGOLD has a 52-week low of $2.11 and a 52-week high of $6.37. The stock’s 50 day moving average price is $5.35 and its 200 day moving average price is $4.68. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on IAG. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $6.00 price target on shares of IAMGOLD in a research report on Tuesday, October 22nd. CIBC raised IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday. National Bank Financial raised IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Scotiabank upped their price target on IAMGOLD from $4.75 to $5.50 and gave the company a “sector perform” rating in a research report on Monday, August 19th. Finally, StockNews.com upgraded IAMGOLD from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $6.68.

Institutional Trading of IAMGOLD

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. ORG Partners LLC bought a new stake in IAMGOLD in the third quarter valued at approximately $29,000. Eastern Bank purchased a new position in shares of IAMGOLD during the third quarter valued at approximately $30,000. Aigen Investment Management LP increased its stake in shares of IAMGOLD by 10.6% during the third quarter. Aigen Investment Management LP now owns 70,244 shares of the mining company’s stock valued at $368,000 after buying an additional 6,704 shares during the period. Geode Capital Management LLC increased its stake in shares of IAMGOLD by 2.7% during the third quarter. Geode Capital Management LLC now owns 264,288 shares of the mining company’s stock valued at $1,392,000 after buying an additional 6,874 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of IAMGOLD by 3.0% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 306,980 shares of the mining company’s stock valued at $1,154,000 after buying an additional 8,972 shares during the period. Institutional investors 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.