Iamgold Corporation (NYSE:IAG) Short Interest Up 51.2% in September

Iamgold Corporation (NYSE:IAG - Get Free Report) TSE: IMG was the target of a large increase in short interest in September. As of September 30th, there was short interest totaling 16,240,000 shares, an increase of 51.2% from the September 15th total of 10,740,000 shares. Based on an average daily volume of 13,870,000 shares, the days-to-cover ratio is presently 1.2 days. Approximately 2.9% of the company's stock are sold short. Approximately 2.9% of the company's stock are sold short. Based on an average daily volume of 13,870,000 shares, the days-to-cover ratio is presently 1.2 days.

Hedge Funds Weigh In On Iamgold

A number of institutional investors have recently bought and sold shares of IAG. Parallel Advisors LLC raised its position in shares of Iamgold by 272.9% during the 2nd quarter. Parallel Advisors LLC now owns 3,584 shares of the mining company's stock valued at $26,000 after buying an additional 2,623 shares during the period. Hsbc Holdings PLC increased its position in shares of Iamgold by 17.8% during the 1st quarter. Hsbc Holdings PLC now owns 19,973 shares of the mining company's stock worth $125,000 after purchasing an additional 3,020 shares during the last quarter. Measured Wealth Private Client Group LLC raised its holdings in Iamgold by 4.0% in the 2nd quarter. Measured Wealth Private Client Group LLC now owns 89,293 shares of the mining company's stock valued at $656,000 after buying an additional 3,396 shares during the period. Banque Transatlantique SA acquired a new position in Iamgold in the second quarter valued at about $26,000. Finally, Vanguard Personalized Indexing Management LLC boosted its stake in Iamgold by 10.7% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 36,901 shares of the mining company's stock worth $271,000 after buying an additional 3,562 shares during the period. 47.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on IAG. Weiss Ratings reiterated a "buy (b)" rating on shares of Iamgold in a research note on Wednesday, October 8th. CIBC lifted their price objective on shares of Iamgold from $10.40 to $19.00 and gave the stock an "outperformer" rating in a research report on Friday, October 10th. Raymond James Financial upped their price target on Iamgold from $9.00 to $13.00 and gave the stock a "market perform" rating in a research report on Friday, October 10th. Zacks Research cut Iamgold from a "strong-buy" rating to a "hold" rating in a research report on Friday, August 15th. Finally, Royal Bank Of Canada upgraded Iamgold from a "sector perform" rating to an "outperform" rating and boosted their target price for the stock from $9.00 to $14.00 in a research note on Wednesday, September 10th. Three investment analysts have rated the stock with a Strong Buy rating, five have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $13.44.

Iamgold Stock Down 1.3%

Shares of NYSE IAG opened at $12.03 on Thursday. Iamgold has a 52-week low of $4.89 and a 52-week high of $14.67. The company has a quick ratio of 0.76, a current ratio of 1.47 and a debt-to-equity ratio of 0.31. The company's 50-day simple moving average is $11.16 and its 200-day simple moving average is $8.51. The firm has a market cap of $6.92 billion, a price-to-earnings ratio of 8.65, a price-to-earnings-growth ratio of 0.43 and a beta of 1.24.

Iamgold (NYSE:IAG - Get Free Report) TSE: IMG last released its earnings results on Thursday, August 7th. The mining company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.14 by ($0.01). The firm had revenue of $587.21 million during the quarter, compared to analysts' expectations of $663.21 million. Iamgold had a net margin of 40.61% and a return on equity of 8.54%. Equities analysts predict that Iamgold will post 0.67 EPS for the current fiscal 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.

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