Iamgold Corporation (IAG) Short Interest Update

Iamgold Corporation (NYSE:IAG) (TSE:IMG) was the recipient of a large growth in short interest in the month of November. As of November 15th, there was short interest totalling 6,097,365 shares, a growth of 82.1% from the October 31st total of 3,347,736 shares. Approximately 1.4% of the company’s shares are short sold. Based on an average daily volume of 4,494,148 shares, the short-interest ratio is currently 1.4 days.

IAG has been the subject of a number of recent analyst reports. TheStreet raised shares of Iamgold from a “c-” rating to a “b” rating in a research note on Thursday, August 17th. BMO Capital Markets reaffirmed a “buy” rating and issued a $8.00 price objective on shares of Iamgold in a research note on Monday, October 2nd. BidaskClub raised shares of Iamgold from a “hold” rating to a “buy” rating in a research note on Saturday, August 19th. Zacks Investment Research raised shares of Iamgold from a “hold” rating to a “buy” rating and set a $6.50 price objective for the company in a research note on Monday, October 23rd. Finally, Royal Bank Of Canada set a $8.00 price objective on shares of Iamgold and gave the stock a “hold” rating in a research note on Wednesday, October 18th. Eight investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $7.10.

Shares of Iamgold (IAG) opened at $5.27 on Tuesday. Iamgold has a 12-month low of $3.16 and a 12-month high of $7.25. The company has a debt-to-equity ratio of 0.14, a current ratio of 4.78 and a quick ratio of 3.85. The stock has a market cap of $2,460.00, a P/E ratio of 53.70, a price-to-earnings-growth ratio of 21.06 and a beta of -0.57.

Iamgold (NYSE:IAG) (TSE:IMG) last released its earnings results on Tuesday, November 7th. The mining company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.02 by $0.05. Iamgold had a net margin of 48.66% and a return on equity of 1.81%. The company had revenue of $268.80 million during the quarter, compared to the consensus estimate of $268.62 million. During the same quarter in the prior year, the firm earned $0.05 EPS. The company’s revenue was down 4.8% compared to the same quarter last year. equities analysts expect that Iamgold will post 0.09 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. lifted its position in Iamgold by 102.3% in the 2nd quarter. Raymond James Financial Services Advisors Inc. now owns 21,299 shares of the mining company’s stock worth $110,000 after buying an additional 10,773 shares in the last quarter. Sigma Planning Corp purchased a new stake in Iamgold in the 3rd quarter worth approximately $130,000. Quantbot Technologies LP purchased a new stake in Iamgold in the 2nd quarter worth approximately $131,000. Acadian Asset Management LLC purchased a new stake in Iamgold in the 2nd quarter worth approximately $137,000. Finally, Alliancebernstein L.P. lifted its position in Iamgold by 171.9% in the 2nd quarter. Alliancebernstein L.P. now owns 32,900 shares of the mining company’s stock worth $170,000 after buying an additional 20,800 shares in the last quarter. Institutional investors own 56.06% of the company’s stock.

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About Iamgold

IAMGOLD Corporation (IAMGOLD) is engaged primarily in the exploration for, and the development and production of, mineral resource properties throughout the world. Through its holdings, IAMGOLD has interests in various operations, exploration and development properties. IAMGOLD is a mid-tier mining company with approximately four operating gold mines on over three continents.

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