IAMGOLD Co. (NYSE:IAG – Get Rating) (TSE:IMG) saw a large drop in short interest in the month of August. As of August 15th, there was short interest totalling 23,810,000 shares, a drop of 28.8% from the July 31st total of 33,450,000 shares. Based on an average trading volume of 6,810,000 shares, the short-interest ratio is currently 3.5 days. Currently, 5.3% of the shares of the company are short sold.
IAMGOLD Stock Performance
IAMGOLD stock traded down $0.11 during midday trading on Friday, hitting $1.27. The company’s stock had a trading volume of 3,600,668 shares, compared to its average volume of 7,592,101. IAMGOLD has a 1-year low of $1.24 and a 1-year high of $3.77. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.77 and a quick ratio of 1.13. The company has a 50-day moving average price of $1.51 and a two-hundred day moving average price of $2.40. The company has a market cap of $608.28 million, a price-to-earnings ratio of -2.35, a PEG ratio of 22.83 and a beta of 1.24.
Wall Street Analyst Weigh In
A number of brokerages have recently commented on IAG. Raymond James downgraded shares of IAMGOLD from a “market perform” rating to an “underperform” rating and decreased their price objective for the company from $3.00 to $2.25 in a research report on Wednesday, May 4th. National Bank Financial decreased their price objective on shares of IAMGOLD from C$3.25 to C$2.25 in a research report on Thursday, July 21st. Canaccord Genuity Group downgraded shares of IAMGOLD from a “hold” rating to a “sell” rating in a research report on Wednesday, May 4th. Stifel Nicolaus cut shares of IAMGOLD from a “hold” rating to a “sell” rating in a research note on Thursday, May 5th. Finally, Canaccord Genuity Group cut shares of IAMGOLD from a “hold” rating to a “sell” rating in a research note on Wednesday, May 4th. Seven investment analysts have rated the stock with a sell rating and three have given a hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $2.91.
Institutional Trading of IAMGOLD
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Hedge funds and other institutional investors have recently bought and sold shares of the business. Citigroup Inc. acquired a new stake in IAMGOLD in the 1st quarter worth about $31,000. Perfromance Wealth Partners LLC bought a new position in IAMGOLD in the 1st quarter valued at about $37,000. First Trust Advisors LP bought a new position in IAMGOLD in the 1st quarter valued at about $40,000. Private Advisor Group LLC bought a new position in IAMGOLD in the 1st quarter valued at about $41,000. Finally, Aigen Investment Management LP bought a new position in IAMGOLD in the 1st quarter valued at about $51,000. Institutional investors and hedge funds own 49.21% of the company’s stock.
IAMGOLD Company Profile
IAMGOLD Corporation, through its subsidiaries, explores, develops, and operates gold mining properties in North America, South America, and West Africa. The company owns interests in the Rosebel mine located in Suriname, South America; the Essakane mine situated in Burkina Faso and Boto gold project located in Senegal, West Africa; and Westwood mine, covers an area of 1,925 hectare and located in Quebec and the Côté gold project, which covers an area of 586 square kilometer located in Ontario, Canada.
Further Reading
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