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

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) saw a significant growth in short interest in 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. Currently, 1.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 10,590,000 shares, the short-interest ratio is currently 0.8 days.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. lifted its holdings in IAMGOLD by 5.3% during the fourth quarter. Franklin Resources Inc. now owns 36,156 shares of the mining company’s stock worth $187,000 after buying an additional 1,836 shares during the period. CIBC Asset Management Inc raised its stake in IAMGOLD by 0.4% in the 4th quarter. CIBC Asset Management Inc now owns 700,955 shares of the mining company’s stock worth $3,615,000 after acquiring an additional 2,848 shares during the last quarter. Bank of New York Mellon Corp raised its stake in IAMGOLD by 12.7% in the 4th quarter. Bank of New York Mellon Corp now owns 35,046 shares of the mining company’s stock worth $181,000 after acquiring an additional 3,961 shares during the last quarter. Northwest & Ethical Investments L.P. raised its stake in IAMGOLD by 4.6% in the 4th quarter. Northwest & Ethical Investments L.P. now owns 91,623 shares of the mining company’s stock worth $473,000 after acquiring an additional 4,013 shares during the last quarter. Finally, Freedom Investment Management Inc. grew its position in IAMGOLD by 4.2% during the 4th quarter. Freedom Investment Management Inc. now owns 108,747 shares of the mining company’s stock worth $561,000 after purchasing an additional 4,399 shares during the period. Institutional investors own 47.08% of the company’s stock.

IAMGOLD Trading Down 0.2 %

Shares of IAG traded down $0.02 during mid-day trading on Tuesday, reaching $6.06. 2,617,611 shares of the company’s stock traded hands, compared to its average volume of 9,442,746. The stock has a market cap of $3.46 billion, a P/E ratio of 4.18 and a beta of 1.63. The stock’s 50-day moving average is $5.89 and its two-hundred day moving average is $5.51. IAMGOLD has a 12 month low of $2.90 and a 12 month high of $6.69. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.61.

IAMGOLD (NYSE:IAG) (TSE:IMG) last released its 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 business had revenue of $469.90 million for the quarter, compared to the consensus estimate of $498.68 million. IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. Research analysts forecast that IAMGOLD will post 0.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. StockNews.com downgraded IAMGOLD from a “buy” rating to a “hold” rating in a research report on Thursday, February 27th. Raymond James upgraded IAMGOLD from a “strong sell” rating to a “hold” rating in a research report on Monday, February 3rd. CIBC upgraded IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research report on Monday, December 2nd. Finally, Cibc World Mkts upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, IAMGOLD has an average rating of “Moderate Buy” and a consensus price target of $6.57.

IAMGOLD Company Profile

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.