IAMGOLD Co. (NYSE:IAG) Short Interest Update

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) saw a significant decrease in short interest in the month of November. As of November 15th, there was short interest totalling 4,890,000 shares, a decrease of 9.8% from the October 31st total of 5,420,000 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average daily volume of 8,410,000 shares, the short-interest ratio is currently 0.6 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Van ECK Associates Corp boosted its position in IAMGOLD by 8.8% in the third quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock worth $276,639,000 after purchasing an additional 4,267,084 shares during the last quarter. Vanguard Group Inc. boosted its position in IAMGOLD by 1.0% in the first quarter. Vanguard Group Inc. now owns 17,678,843 shares of the mining company’s stock worth $58,871,000 after purchasing an additional 168,302 shares during the last quarter. Two Sigma Advisers LP boosted its position in IAMGOLD by 58.8% in the third quarter. Two Sigma Advisers LP now owns 10,083,115 shares of the mining company’s stock worth $52,735,000 after purchasing an additional 3,732,315 shares during the last quarter. FMR LLC boosted its position in IAMGOLD by 107.9% in the third quarter. FMR LLC now owns 8,819,600 shares of the mining company’s stock worth $46,174,000 after purchasing an additional 4,577,599 shares during the last quarter. Finally, Millennium Management LLC boosted its position in IAMGOLD by 194.2% in the second quarter. Millennium Management LLC now owns 7,884,544 shares of the mining company’s stock worth $29,573,000 after purchasing an additional 5,204,715 shares during the last quarter. 47.08% of the stock is owned by hedge funds and other institutional investors.

IAMGOLD Stock Performance

NYSE:IAG traded up $0.29 on Tuesday, hitting $5.73. The stock had a trading volume of 6,301,898 shares, compared to its average volume of 8,944,540. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 4.47 and a beta of 1.56. The company has a quick ratio of 0.61, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. The business’s 50-day simple moving average is $5.35 and its two-hundred day simple moving average is $4.68. IAMGOLD has a 52-week low of $2.11 and a 52-week high of $6.37.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on IAG shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $6.00 price target on shares of IAMGOLD in a research note on Tuesday, October 22nd. CIBC raised IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research note on Monday. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating and upped their price target for the company from $7.75 to $10.50 in a report on Tuesday, October 22nd. Scotiabank upped their price target on IAMGOLD from $4.75 to $5.50 and gave the company a “sector perform” rating in a report on Monday, August 19th. Finally, StockNews.com raised IAMGOLD from a “hold” rating to a “buy” rating in a report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $6.68.

About IAMGOLD

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.