IAMGOLD Co. (NYSE:IAG) Sees Large Decrease in Short Interest

IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG was the recipient of a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 6,580,000 shares, a decline of 16.0% from the March 31st total of 7,830,000 shares. Based on an average daily trading volume, of 13,860,000 shares, the days-to-cover ratio is presently 0.5 days. Approximately 1.2% of the company's shares are short sold.

Institutional Investors Weigh In On IAMGOLD

A number of institutional investors and hedge funds have recently modified their holdings of the company. Tobam bought a new stake in shares of IAMGOLD during the 4th quarter valued at about $25,000. Blue Trust Inc. raised its holdings in shares of IAMGOLD by 157.1% during the 4th quarter. Blue Trust Inc. now owns 9,018 shares of the mining company's stock valued at $47,000 after buying an additional 5,511 shares in the last quarter. Raab & Moskowitz Asset Management LLC bought a new stake in IAMGOLD in the 4th quarter worth approximately $56,000. Atria Wealth Solutions Inc. purchased a new stake in IAMGOLD in the fourth quarter worth approximately $68,000. Finally, Alpha Omega Wealth Management LLC bought a new position in IAMGOLD during the first quarter valued at approximately $75,000. 47.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

IAG has been the topic of a number of recent research reports. CIBC increased their target price on IAMGOLD from $8.40 to $9.20 and gave the stock an "outperformer" rating in a report on Thursday. StockNews.com lowered shares of IAMGOLD from a "buy" rating to a "hold" rating in a research note on Thursday, February 27th. National Bank Financial raised shares of IAMGOLD to a "strong-buy" rating in a research report on Friday, March 21st. BMO Capital Markets began coverage on shares of IAMGOLD in a research report on Wednesday, April 16th. They issued an "outperform" rating on the stock. Finally, Scotiabank lifted their price target on IAMGOLD from $6.75 to $7.50 and gave the company a "sector perform" rating in a research note on Monday, April 14th. Four equities research analysts have rated the stock with a hold rating, three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $7.70.

IAMGOLD Stock Performance

Shares of IAG stock traded down $0.12 during trading on Thursday, hitting $6.83. The company's stock had a trading volume of 11,949,494 shares, compared to its average volume of 10,390,728. The company has a market cap of $3.93 billion, a PE ratio of 4.71 and a beta of 1.20. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The business has a fifty day moving average of $6.48 and a 200-day moving average of $5.94. IAMGOLD has a 52 week low of $3.44 and a 52 week high of $8.38.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last released its earnings results on Tuesday, May 6th. The mining company reported $0.10 earnings per share for the quarter, meeting analysts' consensus estimates of $0.10. IAMGOLD had a net margin of 50.19% and a return on equity of 10.64%. The firm had revenue of $457.23 million for the quarter, compared to analysts' expectations of $578.70 million. As a group, research analysts anticipate that IAMGOLD will post 0.67 earnings per share for the current year.

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.