IAMGOLD Co. (NYSE:IAG) Short Interest Up 5.4% in May

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) was the target of a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 8,520,000 shares, an increase of 5.4% from the May 15th total of 8,080,000 shares. Currently, 1.7% of the shares of the company are sold short. Based on an average trading volume of 10,130,000 shares, the short-interest ratio is presently 0.8 days.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Scotiabank raised their target price on shares of IAMGOLD from $4.25 to $4.50 and gave the stock a “sector perform” rating in a report on Thursday, June 6th. CIBC decreased their price objective on IAMGOLD from $5.00 to $4.80 and set a “neutral” rating for the company in a report on Friday, June 7th. StockNews.com raised IAMGOLD from a “sell” rating to a “hold” rating in a report on Friday, May 24th. BMO Capital Markets reaffirmed an “outperform” rating and set a $5.00 price objective on shares of IAMGOLD in a research note on Thursday, June 6th. Finally, National Bank Financial reaffirmed a “sector perform spec overwgt” rating on shares of IAMGOLD in a report on Monday, April 8th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, IAMGOLD presently has a consensus rating of “Hold” and an average price target of $4.01.

Institutional Investors Weigh In On IAMGOLD

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Cetera Advisors LLC purchased a new position in IAMGOLD during the first quarter worth about $50,000. Virtu Financial LLC lifted its position in shares of IAMGOLD by 1,034.3% during the first quarter. Virtu Financial LLC now owns 339,792 shares of the mining company’s stock worth $1,132,000 after purchasing an additional 309,836 shares in the last quarter. Linscomb Wealth Inc. acquired a new stake in IAMGOLD during the 1st quarter worth approximately $67,000. Donald Smith & CO. Inc. raised its stake in shares of IAMGOLD by 0.8% in the first quarter. Donald Smith & CO. Inc. now owns 36,077,268 shares of the mining company’s stock valued at $120,137,000 after acquiring an additional 298,959 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in IAMGOLD by 1.0% in the first quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company’s stock valued at $58,871,000 after purchasing an additional 168,302 shares during the period. Institutional investors and hedge funds own 47.08% of the company’s stock.

IAMGOLD Stock Up 4.2 %

IAG stock opened at $3.75 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.91 and a debt-to-equity ratio of 0.35. IAMGOLD has a 52 week low of $1.99 and a 52 week high of $4.59. The stock has a market capitalization of $2.13 billion, a P/E ratio of 13.39 and a beta of 1.66. The firm has a 50-day simple moving average of $3.85 and a 200-day simple moving average of $3.11.

IAMGOLD (NYSE:IAG) (TSE:IMG) last announced its earnings results on Thursday, May 9th. The mining company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.09. The company had revenue of $338.90 million for the quarter. IAMGOLD had a net margin of 12.48% and a return on equity of 3.17%. During the same period last year, the firm earned $0.05 EPS. Equities analysts forecast that IAMGOLD will post 0.28 earnings per share 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.