Iamgold Corp (NYSE:IAG) Short Interest Update

Iamgold Corp (NYSE:IAG) (TSE:IMG) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totalling 11,230,000 shares, an increase of 22.6% from the August 30th total of 9,160,000 shares. Approximately 2.4% of the shares of the company are short sold. Based on an average trading volume of 5,680,000 shares, the short-interest ratio is currently 2.0 days.

Several hedge funds have recently modified their holdings of the stock. Cerebellum GP LLC purchased a new stake in shares of Iamgold in the third quarter worth $77,000. Polunin Capital Partners Ltd purchased a new stake in shares of Iamgold in the second quarter worth $6,938,000. Ladenburg Thalmann Financial Services Inc. increased its stake in Iamgold by 33.8% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 48,263 shares of the mining company’s stock valued at $163,000 after acquiring an additional 12,196 shares during the last quarter. United Services Automobile Association increased its stake in Iamgold by 4.9% in the second quarter. United Services Automobile Association now owns 1,887,322 shares of the mining company’s stock valued at $6,379,000 after acquiring an additional 87,322 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD bought a new position in Iamgold in the second quarter valued at $1,390,000. Institutional investors own 57.30% of the company’s stock.

Shares of IAG stock traded down $0.09 on Friday, reaching $3.51. The company’s stock had a trading volume of 3,858,015 shares, compared to its average volume of 5,486,346. The company has a quick ratio of 3.05, a current ratio of 4.14 and a debt-to-equity ratio of 0.15. Iamgold has a 12-month low of $2.28 and a 12-month high of $4.16. The company has a market capitalization of $1.70 billion, a P/E ratio of 58.50, a PEG ratio of 44.00 and a beta of -0.10. The stock’s 50 day simple moving average is $3.63 and its 200-day simple moving average is $3.29.

Iamgold (NYSE:IAG) (TSE:IMG) last issued its quarterly earnings data on Wednesday, August 7th. The mining company reported ($0.03) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.01) by ($0.02). Iamgold had a negative return on equity of 1.45% and a negative net margin of 9.84%. The business had revenue of $246.50 million during the quarter, compared to analysts’ expectations of $272.94 million. During the same quarter last year, the business posted $0.03 EPS. The company’s quarterly revenue was down 11.1% on a year-over-year basis. Research analysts expect that Iamgold will post 0.03 EPS for the current year.

IAG has been the topic of several recent research reports. Raymond James restated a “market perform” rating and set a $4.00 target price on shares of Iamgold in a research report on Friday, August 9th. CIBC restated an “average” rating on shares of Iamgold in a research report on Sunday, August 4th. GMP Securities downgraded Iamgold from a “buy” rating to a “hold” rating in a research report on Tuesday, July 23rd. CSFB downgraded Iamgold from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $4.75 to $3.75 in a research report on Thursday, August 8th. Finally, Canaccord Genuity restated a “hold” rating on shares of Iamgold in a research report on Friday, July 19th. Ten analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $4.12.

Iamgold Company Profile

IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine in Burkina Faso, West Africa; the Westwood mine in Quebec, Canada; and the Sadiola mine located in Mali, West Africa.

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