IAMGOLD Co. (NYSE:IAG) Short Interest Down 8.5% in December

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) saw a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 6,240,000 shares, a decrease of 8.5% from the December 15th total of 6,820,000 shares. Based on an average daily volume of 7,810,000 shares, the days-to-cover ratio is currently 0.8 days. Approximately 1.1% of the shares of the company are sold short.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. National Bank Financial upgraded shares of IAMGOLD from a “sector perform” rating to an “outperform” rating in a research note on Thursday, October 10th. CIBC raised IAMGOLD from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 2nd. StockNews.com downgraded shares of IAMGOLD from a “buy” rating to a “hold” rating in a research note on Wednesday, January 15th. Royal Bank of Canada restated a “sector perform” rating and set a $6.00 price objective on shares of IAMGOLD in a research note on Tuesday, October 22nd. Finally, Raymond James dropped their price target on IAMGOLD from $6.50 to $6.00 and set an “underperform” rating for the company in a research note on Wednesday, January 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, IAMGOLD presently has an average rating of “Moderate Buy” and an average price target of $6.57.

Institutional Trading of IAMGOLD

Hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp increased its position in IAMGOLD by 8.8% in the 3rd quarter. Van ECK Associates Corp now owns 52,894,690 shares of the mining company’s stock valued at $276,639,000 after acquiring an additional 4,267,084 shares during the period. Two Sigma Advisers LP raised its holdings in shares of IAMGOLD by 58.8% during the third quarter. Two Sigma Advisers LP now owns 10,083,115 shares of the mining company’s stock valued at $52,735,000 after purchasing an additional 3,732,315 shares during the period. FMR LLC raised its stake in IAMGOLD by 107.9% during the 3rd quarter. FMR LLC now owns 8,819,600 shares of the mining company’s stock worth $46,174,000 after buying an additional 4,577,599 shares during the period. Millennium Management LLC boosted its holdings 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 acquiring an additional 5,204,715 shares in the last quarter. Finally, American Century Companies Inc. grew its position in IAMGOLD by 28.6% in the 2nd quarter. American Century Companies Inc. now owns 5,708,298 shares of the mining company’s stock valued at $21,423,000 after purchasing an additional 1,270,608 shares during the period. Institutional investors and hedge funds own 47.08% of the company’s stock.

IAMGOLD Trading Up 2.7 %

IAG opened at $5.60 on Monday. The company has a market cap of $3.20 billion, a P/E ratio of 4.37 and a beta of 1.56. The company has a current ratio of 0.89, a quick ratio of 0.61 and a debt-to-equity ratio of 0.24. The company’s 50 day moving average is $5.39 and its 200-day moving average is $5.05. IAMGOLD has a 1-year low of $2.23 and a 1-year high of $6.37.

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.