IAMGOLD Co. (NYSE:IAG) Short Interest Up 36.1% in May

IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG was the target of a significant increase in short interest during the month of May. As of May 15th, there was short interest totalling 10,020,000 shares, an increase of 36.1% from the April 30th total of 7,360,000 shares. Approximately 1.8% of the company's shares are short sold. Based on an average daily trading volume, of 14,350,000 shares, the short-interest ratio is currently 0.7 days.

Wall Street Analysts Forecast Growth

IAG has been the topic of a number of analyst reports. Wall Street Zen lowered shares of IAMGOLD from a "buy" rating to a "hold" rating in a research report on Thursday, February 27th. Scotiabank increased their price target on IAMGOLD from $7.50 to $7.75 and gave the stock a "sector perform" rating in a research note on Monday, May 12th. Raymond James restated a "market perform" rating and set a $8.00 price objective on shares of IAMGOLD in a report on Friday, April 4th. BMO Capital Markets assumed coverage on IAMGOLD in a research note on Wednesday, April 16th. They issued an "outperform" rating for the company. Finally, National Bank Financial upgraded IAMGOLD to a "strong-buy" rating in a research report on Friday, March 21st. Four research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $7.74.

Institutional Trading of IAMGOLD

Institutional investors and hedge funds have recently bought and sold shares of the business. Blue Trust Inc. grew its holdings in 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 purchasing an additional 5,511 shares in the last quarter. Choreo LLC bought a new position in IAMGOLD during the 4th quarter worth approximately $88,000. Measured Wealth Private Client Group LLC grew its position in shares of IAMGOLD by 54.1% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 68,216 shares of the mining company's stock worth $352,000 after acquiring an additional 23,962 shares in the last quarter. Tobam bought a new stake in shares of IAMGOLD in the 4th quarter valued at approximately $25,000. Finally, Triasima Portfolio Management inc. raised 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 in the last quarter. Institutional investors and hedge funds own 47.08% of the company's stock.

IAMGOLD Trading Up 3.6%

Shares of IAG stock traded up $0.27 on Thursday, reaching $7.70. 30,198,358 shares of the stock were exchanged, compared to its average volume of 10,791,947. 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 stock has a market cap of $4.43 billion, a P/E ratio of 5.31 and a beta of 1.20. The firm has a 50 day moving average of $6.84 and a two-hundred day moving average of $6.11. IAMGOLD has a 1-year low of $3.44 and a 1-year high of $8.38.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last announced its quarterly earnings results on Tuesday, May 6th. The mining company reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $457.23 million during the quarter, compared to analyst estimates of $578.70 million. IAMGOLD had a return on equity of 10.64% and a net margin of 50.19%. On average, research analysts anticipate that IAMGOLD will post 0.67 EPS for the current 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.