IAMGOLD Co. (NYSE:IAG) Short Interest Down 8.5% in January

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) was the target of a significant decrease in short interest in January. As of January 15th, there was short interest totalling 6,240,000 shares, a decrease of 8.5% from the December 31st total of 6,820,000 shares. Based on an average trading volume of 7,810,000 shares, the days-to-cover ratio is currently 0.8 days. Currently, 1.1% of the shares of the stock are short sold.

Analyst Ratings Changes

A number of research firms have recently commented on IAG. StockNews.com downgraded shares of IAMGOLD from a “buy” rating to a “hold” rating in a research note on Wednesday, January 29th. Raymond James decreased their price target on IAMGOLD from $6.50 to $6.00 and set an “underperform” rating for the company in a research note on Wednesday, January 15th. Royal Bank of Canada restated a “sector perform” rating and issued a $6.00 target price on shares of IAMGOLD in a research note on Tuesday, October 22nd. Canaccord Genuity Group raised 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 report on Tuesday, October 22nd. Finally, CIBC raised IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research note on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $6.57.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of IAG. FMR LLC lifted its position in IAMGOLD by 107.9% during the third quarter. FMR LLC now owns 8,819,600 shares of the mining company’s stock worth $46,174,000 after purchasing an additional 4,577,599 shares during the period. Van ECK Associates Corp raised its holdings in IAMGOLD by 8.8% in the 3rd quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock valued at $276,639,000 after buying an additional 4,267,084 shares during the last quarter. Two Sigma Advisers LP grew its position in shares of IAMGOLD by 58.8% in the 3rd quarter. Two Sigma Advisers LP now owns 10,083,115 shares of the mining company’s stock valued at $52,735,000 after buying an additional 3,732,315 shares during the last quarter. Bank of Montreal Can lifted its holdings in IAMGOLD by 130.6% in the third quarter. Bank of Montreal Can now owns 5,384,778 shares of the mining company’s stock valued at $28,385,000 after buying an additional 3,049,252 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of IAMGOLD by 158.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 4,636,087 shares of the mining company’s stock worth $24,301,000 after buying an additional 2,839,556 shares in the last quarter. 47.08% of the stock is owned by institutional investors.

IAMGOLD Trading Up 3.1 %

NYSE:IAG traded up $0.20 during trading hours on Monday, hitting $6.44. 16,668,173 shares of the stock were exchanged, compared to its average volume of 12,265,760. IAMGOLD has a twelve month low of $2.32 and a twelve month high of $6.64. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $3.68 billion, a P/E ratio of 5.03 and a beta of 1.56. The company’s 50 day moving average is $5.51 and its two-hundred day moving average is $5.18.

IAMGOLD (NYSE:IAG) (TSE:IMG) last posted its quarterly earnings data on Thursday, November 7th. The mining company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.07. The company had revenue of $438.90 million during the quarter. IAMGOLD had a return on equity of 10.01% and a net margin of 49.56%. During the same period in the prior year, the company earned ($0.01) earnings per share. On average, sell-side analysts anticipate that IAMGOLD will post 0.58 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.