Short Interest in IAMGOLD Co. (NYSE:IAG) Drops By 9.7%

IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG saw a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 8,010,000 shares, a decline of 9.7% from the March 15th total of 8,870,000 shares. Based on an average daily volume of 8,450,000 shares, the days-to-cover ratio is presently 0.9 days. Currently, 1.6% of the shares of the company are sold short.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on IAG shares. CIBC boosted their price target on IAMGOLD from $3.00 to $3.10 and gave the company a "neutral" rating in a research note on Wednesday, February 7th. StockNews.com upgraded IAMGOLD from a "sell" rating to a "hold" rating in a research note on Wednesday, April 10th. National Bank Financial reiterated a "sector perform spec overwgt" rating on shares of IAMGOLD in a research note on Monday, April 8th. Finally, BMO Capital Markets increased their price objective on shares of IAMGOLD from $4.00 to $4.25 and gave the company an "outperform" rating in a research note on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $3.52.

Institutional Investors Weigh In On IAMGOLD

Hedge funds and other institutional investors have recently bought and sold shares of the business. Van ECK Associates Corp grew its holdings in shares of IAMGOLD by 2.9% during the fourth quarter. Van ECK Associates Corp now owns 48,117,785 shares of the mining company's stock worth $121,736,000 after purchasing an additional 1,368,491 shares during the last quarter. Donald Smith & CO. Inc. grew its holdings in IAMGOLD by 13.9% during the 4th quarter. Donald Smith & CO. Inc. now owns 35,778,309 shares of the mining company's stock worth $90,519,000 after acquiring an additional 4,358,444 shares during the last quarter. Vanguard Group Inc. grew its holdings in IAMGOLD by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 17,510,541 shares of the mining company's stock worth $44,302,000 after acquiring an additional 135,524 shares during the last quarter. Renaissance Technologies LLC increased its position in IAMGOLD by 0.7% in the 1st quarter. Renaissance Technologies LLC now owns 17,085,400 shares of the mining company's stock valued at $46,308,000 after acquiring an additional 124,300 shares in the last quarter. Finally, Helikon Investments Ltd bought a new position in shares of IAMGOLD in the fourth quarter worth about $23,722,000. 47.08% of the stock is owned by institutional investors and hedge funds.

IAMGOLD Price Performance

Shares of NYSE:IAG traded down $0.03 on Monday, hitting $3.58. The stock had a trading volume of 17,176,245 shares, compared to its average volume of 8,829,767. The firm's 50 day moving average price is $3.00 and its 200-day moving average price is $2.62. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.77 and a current ratio of 1.19. IAMGOLD has a twelve month low of $1.99 and a twelve month high of $3.92. The company has a market capitalization of $1.78 billion, a price-to-earnings ratio of 18.82, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69.

IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last issued its quarterly earnings data on Thursday, February 15th. The mining company reported $0.06 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.04. The firm had revenue of $297.60 million for the quarter. IAMGOLD had a net margin of 9.55% and a return on equity of 1.97%. On average, equities research analysts predict that IAMGOLD will post 0.07 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.