IAMGOLD Co. (NYSE: IAG) Short interest rate up 32.3% in November
IAMGOLD Co. (NYSE: IAG) (TSE: IMG) recorded significant growth in short-term interest in November. As of November 30, there was short interest totaling 10,580,000 shares, an increase of 32.3% from the total of 8,000,000 shares as of November 15. Currently 2.2% of stocks are sold short. Based on an average trading volume of 8,120,000 shares, the short-term interest rate is currently 1.3 days.
Institutional investors have recently changed their positions in the company. Kopernik Global Investors LLC increased its stake in IAMGOLD shares by 3.9% in the second quarter. Kopernik Global Investors LLC now owns 3,514,441 shares of the mining company valued at $ 10,368,000 after acquiring an additional 130,935 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in IAMGOLD shares in the 2nd quarter valued at $ 45,000. Ruffer LLP increased its stake in IAMGOLD shares by 10.1% in the second quarter. Ruffer LLP now owns 12,356,317 shares of the mining company valued at $ 36,383,000 after acquiring an additional 1,130,946 shares during the period. Bank of America Corp DE increased its stake in IAMGOLD shares by 28.3% in the second quarter. Bank of America Corp DE now owns 1,457,282 shares of the mining company valued at $ 4,300,000 after acquiring an additional 321,548 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in IAMGOLD shares by 55.4% in the second quarter. Allianz Asset Management GmbH now owns 152,577 shares of the mining company valued at $ 450,000 after acquiring an additional 54,366 shares during the period. 43.15% of the shares are currently held by institutional investors and hedge funds.
A number of equity research analysts have recently commented on IAG stocks. Stifel Nicolaus reduced his target price on IAMGOLD shares from C $ 4.50 to C $ 4.00 and established a “custody” rating for the company in a research report on Monday, October 25. Zacks Investment Research downgraded IAMGOLD shares from a “hold” rating to a “sell” rating in a research report released on Wednesday, October 6. National Bank Financial lowered its target price for IAMGOLD shares from C $ 4.00 to C $ 3.75 and established a “outperformance” rating for the company in a research report on Friday, September 10. Raymond James set a target price of $ 3.25 for IAMGOLD shares and gave the company a “market return” rating in a research report on Thursday, November 4. Finally, Canaccord Genuity raised its price target for IAMGOLD shares from C $ 3.75 to C $ 4.00 and assigned the stock a “hold” rating in a research report on Tuesday, November 16. One analyst rated the stock with a sell rating, seven issued a conservation rating, and one gave the company a buy rating. According to data from MarketBeat.com, IAMGOLD currently has a consensus rating of “Hold” and an average price target of $ 3.50.
NYSE: IAG traded up $ 0.02 at midday on Friday, reaching $ 2.94. The stock had a trade volume of 15,795,140 shares, compared to its average volume of 5,805,814. The stock has a 50-day simple moving average of $ 2.89 and a two-hundred-day simple moving average. of $ 2.83. IAMGOLD has a twelve month low of $ 2.16 and a twelve month high of $ 3.95. The company has a quick ratio of 1.45, a current ratio of 2.01, and a debt ratio of 0.18.
IAMGOLD (NYSE: IAG) (TSE: IMG) last released its results on Wednesday, November 3. The mining company reported ($ 0.04) earnings per share for the quarter, missing the Thomson Reuters consensus estimate of ($ 0.01) by ($ 0.03). IAMGOLD had a net margin of 0.23% and a return on equity of 0.06%. The company reported sales of $ 294.10 million in the quarter. In the same quarter of last year, the company posted earnings of $ 0.11 per share. As a group, equity research analysts predict that IAMGOLD will post earnings per share of -0.07 for the current fiscal year.
IAMGOLD Company Profile
IAMGOLD Corp. engages in the exploration, development and production of gold properties and mineral resources. It owns and operates the Westwood mine in Quebec and the Cote Gold project, a development project located in Ontario. The firm also operates the Rosebel mine in Suriname, the Essakane mine in Burkina Faso, the Saramacca project, an exploration project located in Suriname, the Boto project, an exploration project located in Senegal.
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