IAMGOLD Co. (NYSE:IAG) Short Interest Up 23.3% in December

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) was the target of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 6,820,000 shares, an increase of 23.3% from the November 30th total of 5,530,000 shares. Approximately 1.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 8,150,000 shares, the days-to-cover ratio is currently 0.8 days.

Analyst Ratings Changes

Several equities analysts have issued reports on IAG shares. CIBC raised shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a report on Monday, December 2nd. StockNews.com raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a research note on Monday, November 11th. Cibc World Mkts upgraded IAMGOLD from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 2nd. Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating and lifted their price target for the stock from $7.75 to $10.50 in a research note on Tuesday, October 22nd. Finally, Canaccord Genuity Group raised IAMGOLD from a “hold” rating to a “buy” rating in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $6.68.

IAMGOLD Trading Up 1.4 %

NYSE IAG traded up $0.07 on Tuesday, reaching $5.13. 2,902,406 shares of the company were exchanged, compared to its average volume of 8,746,778. 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 business’s fifty day moving average price is $5.43 and its 200 day moving average price is $4.88. The stock has a market capitalization of $2.93 billion, a P/E ratio of 4.01 and a beta of 1.56. IAMGOLD has a fifty-two week low of $2.23 and a fifty-two week high of $6.37.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Millennium Management LLC raised its stake in IAMGOLD by 194.2% during 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 period. FMR LLC raised its position in shares of IAMGOLD by 107.9% during the 3rd quarter. FMR LLC now owns 8,819,600 shares of the mining company’s stock valued at $46,174,000 after buying an additional 4,577,599 shares during the period. Van ECK Associates Corp lifted its holdings 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 valued at $276,639,000 after acquiring an additional 4,267,084 shares during the last quarter. Two Sigma Advisers LP grew 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 acquiring an additional 3,732,315 shares during the period. Finally, Bank of Montreal Can increased its stake in IAMGOLD by 130.6% during the third quarter. Bank of Montreal Can now owns 5,384,778 shares of the mining company’s stock worth $28,385,000 after acquiring an additional 3,049,252 shares during the last quarter. Institutional investors and hedge funds own 47.08% of the company’s stock.

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.