IAMGOLD Co. (NYSE:IAG – Get Free Report) TSE: IMG was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 5,130,000 shares, an increase of 16.3% from the November 30th total of 4,410,000 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average daily volume of 5,270,000 shares, the days-to-cover ratio is presently 1.0 days.
Wall Street Analyst Weigh In
Several analysts have weighed in on IAG shares. StockNews.com initiated coverage on IAMGOLD in a research note on Thursday, October 5th. They set a “hold” rating on the stock. Raymond James decreased their price objective on IAMGOLD from $3.25 to $3.00 and set an “underperform” rating for the company in a report on Tuesday, October 31st. Royal Bank of Canada raised IAMGOLD from an “underperform” rating to a “sector perform” rating and boosted their price objective for the company from $1.75 to $2.75 in a report on Tuesday, September 12th. Finally, BMO Capital Markets decreased their price objective on IAMGOLD from $3.25 to $3.00 and set an “outperform” rating for the company in a report on Friday, November 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, IAMGOLD currently has an average rating of “Hold” and a consensus price target of $3.46.
Hedge Funds Weigh In On IAMGOLD
A number of large investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its holdings in shares of IAMGOLD by 416.9% during the first quarter. JPMorgan Chase & Co. now owns 2,430,863 shares of the mining company’s stock valued at $8,459,000 after acquiring an additional 1,960,562 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of IAMGOLD by 2.3% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 488,427 shares of the mining company’s stock valued at $1,700,000 after acquiring an additional 11,047 shares during the last quarter. Private Advisor Group LLC acquired a new position in shares of IAMGOLD during the first quarter valued at approximately $41,000. Citigroup Inc. acquired a new position in shares of IAMGOLD during the first quarter valued at approximately $31,000. Finally, Great West Life Assurance Co. Can raised its holdings in shares of IAMGOLD by 23.0% during the first quarter. Great West Life Assurance Co. Can now owns 36,927 shares of the mining company’s stock valued at $137,000 after acquiring an additional 6,913 shares during the last quarter. Institutional investors and hedge funds own 49.40% of the company’s stock.
IAMGOLD Price Performance
NYSE IAG traded down $0.02 during trading hours on Monday, reaching $2.53. The company’s stock had a trading volume of 4,612,200 shares, compared to its average volume of 4,475,560. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 9.73, a P/E/G ratio of 4.23 and a beta of 1.61. IAMGOLD has a 1-year low of $1.99 and a 1-year high of $3.34. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.60 and a quick ratio of 1.17. The company’s 50-day moving average is $2.46 and its two-hundred day moving average is $2.45.
IAMGOLD (NYSE:IAG – Get Free Report) TSE: IMG last released its quarterly earnings results on Friday, November 10th. The mining company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The company had revenue of $224.50 million during the quarter. IAMGOLD had a return on equity of 0.38% and a net margin of 14.24%. During the same period in the previous year, the company posted ($0.03) EPS. On average, equities analysts predict that IAMGOLD will post 0.02 EPS for the current year.
About IAMGOLD
IAMGOLD Corporation, through its subsidiaries, explores, develops, and operates gold mining properties in North America and West Africa. The company owns 100% interest in the Westwood mine, covers an area of 1,925 hectare and located in Quebec and the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and 90% interests in the Essakane mine situated in Burkina Faso and Boto gold project located in Senegal, West Africa.