IAMGOLD Co. (NYSE:IAG - Get Free Report) TSE: IMG saw a significant drop in short interest in September. As of September 30th, there was short interest totalling 5,790,000 shares, a drop of 6.2% from the September 15th total of 6,170,000 shares. Currently, 1.0% of the shares of the stock are short sold. Based on an average trading volume of 9,380,000 shares, the short-interest ratio is currently 0.6 days.
Several hedge funds have recently modified their holdings of the company. ORG Partners LLC purchased a new stake in shares of IAMGOLD during the 3rd quarter valued at $29,000. TIAA Trust National Association acquired a new stake in IAMGOLD in the second quarter worth about $38,000. WINTON GROUP Ltd purchased a new stake in shares of IAMGOLD during the second quarter worth about $52,000. Banque Cantonale Vaudoise acquired a new position in shares of IAMGOLD during the second quarter valued at about $56,000. Finally, Cetera Advisors LLC purchased a new position in shares of IAMGOLD in the 1st quarter valued at approximately $50,000. 47.08% of the stock is owned by hedge funds and other institutional investors.
IAG traded up $0.16 during trading on Wednesday, hitting $5.08. 9,860,654 shares of the stock were exchanged, compared to its average volume of 9,067,450. IAMGOLD has a 1 year low of $2.11 and a 1 year high of $5.60. The firm has a market cap of $2.89 billion, a price-to-earnings ratio of 18.00 and a beta of 1.59. The firm has a 50 day simple moving average of $5.00 and a 200 day simple moving average of $4.26. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.90 and a current ratio of 1.34.
IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last announced its quarterly earnings results on Thursday, August 8th. The mining company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.08. The firm had revenue of $385.30 million during the quarter. IAMGOLD had a net margin of 10.36% and a return on equity of 6.70%. During the same period in the previous year, the company posted ($0.01) EPS. As a group, equities analysts expect that IAMGOLD will post 0.49 EPS for the current year.
Several brokerages have recently issued reports on IAG. CIBC upped their price objective on IAMGOLD from $4.90 to $5.40 and gave the stock a "neutral" rating in a report on Monday, August 12th. National Bank Financial upgraded shares of IAMGOLD from a "sector perform" rating to an "outperform" rating in a research report on Thursday, October 10th. Scotiabank boosted their target price on shares of IAMGOLD from $4.75 to $5.50 and gave the stock a "sector perform" rating in a report on Monday, August 19th. Finally, StockNews.com raised shares of IAMGOLD from a "sell" rating to a "hold" rating in a report on Saturday, August 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $4.73.
Get Our Latest Stock Report on 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.
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