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

IAMGOLD Co. (NYSE:IAG) (TSE:IMG) was the target of a significant 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. Based on an average trading volume of 8,150,000 shares, the short-interest ratio is currently 0.8 days. Currently, 1.2% of the shares of the company are sold short.

IAMGOLD Price Performance

Shares of IAMGOLD stock traded up $0.09 on Tuesday, hitting $5.15. 3,453,342 shares of the company traded hands, compared to its average volume of 8,749,325. IAMGOLD has a 12-month low of $2.23 and a 12-month high of $6.37. The firm’s 50-day simple moving average is $5.43 and its 200 day simple moving average is $4.88. The company has a market cap of $2.94 billion, a P/E ratio of 4.02 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.

Institutional Investors Weigh In On IAMGOLD

Several hedge funds have recently added to or reduced their stakes in IAG. ORG Partners LLC purchased a new position in shares of IAMGOLD during the 3rd quarter valued at about $29,000. Eastern Bank bought a new stake in shares of IAMGOLD in the 3rd quarter worth approximately $30,000. TIAA Trust National Association purchased a new stake in shares of IAMGOLD in the 2nd quarter valued at $38,000. WINTON GROUP Ltd bought a new position in shares of IAMGOLD during the 2nd quarter valued at $52,000. Finally, Banque Cantonale Vaudoise purchased a new position in IAMGOLD in the 2nd quarter worth $56,000. Institutional investors own 47.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on IAG. StockNews.com raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a report on Monday, November 11th. National Bank Financial raised IAMGOLD from a “sector perform” rating to an “outperform” rating in a research report on Thursday, October 10th. Cibc World Mkts raised IAMGOLD from a “hold” rating to a “strong-buy” rating in a report on Monday, December 2nd. Canaccord Genuity Group raised shares of IAMGOLD from a “hold” rating to a “buy” rating in a report on Tuesday, October 22nd. Finally, CIBC upgraded shares of IAMGOLD from a “neutral” rating to a “sector outperform” rating in a research note on Monday, December 2nd. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $6.68.

IAMGOLD Company Profile

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.