IAMGOLD Co. (NYSE:IAG) Short Interest Down 22.4% in March

IAMGOLD Corporation (NYSE: IAG, TSX: TSEIMG) experienced a notable decline in short interest during the month of March. According to data from FINRA (Financial Industry Regulatory Authority) and the Toronto Stock Exchange, as of March 15, 2023, there were approximately 8,870,000 IAMGOLD shares sold short, marking a decrease of around 22.4% compared to the previous reporting period on February 29, 2023, when short interest amounted to 11,430,000 shares.

Short interest refers to the number of shares that have been sold short and have not yet been covered or bought back by the short sellers. A decrease in short interest indicates that there has been a reduction in the number of shares being sold short, potentially signaling increased confidence among investors or a bullish sentiment towards the stock.

Based on an average daily trading volume of approximately 7,710,000 shares for IAMGOLD, the short-interest ratio can be calculated as follows:

Short-interest ratio = (Short interest / Average daily trading volume)

Short-interest ratio = (8,870,000 shares / 7,710,000 shares)

Short-interest ratio ˜ 1.15

A short-interest ratio below 1 indicates that there are more shares available to be borrowed for short selling than are currently being sold short, while a ratio above 1 suggests that there is a higher demand for shares to be borrowed for short selling than are available, potentially making it more difficult and costlier for investors to enter into short positions. In this case, the ratio of 1.15 indicates that there are slightly more shares available for borrowing than are currently being sold short, which may contribute to the decline in short interest observed during March.

It is important to note that while a decrease in short interest can be seen as a positive sign, it does not necessarily guarantee that the stock price will increase, and it should not be the sole factor considered when making investment decisions. Other fundamental and technical factors should also be taken into account when evaluating a stock's potential performance.

In summary, IAMGOLD Corporation experienced a reduction in short interest of approximately 22.4% during the month of March, with short interest totalling 8,870,000 shares as of March 15, down from 11,430,000 shares on February 29. The short-interest ratio, which indicates the relationship between the number of shares sold short and the average daily trading volume, stood at approximately 1.15, suggesting that there are slightly more shares available for borrowing than are currently being sold short. This decline in short interest may be indicative of increased confidence among investors or a bullish sentiment towards the stock, but it should not be the sole factor considered when making investment decisions.