IAMGOLD Stock Rises 39% in 3 Months: How Should You Play the Stock?

Zacks09-13

IAMGOLD IAG shares have gained 39.1% over the past three months against the industry's 17.2% growth. This intermediate gold producer has also outpaced leading gold producers like Newmont Corporation ...

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This intermediate gold producer has also outpaced leading gold producers like Newmont Corporation ...</p>\n\n<a href=\"https://finance.yahoo.com/news/iamgold-stock-rises-39-3-170000981.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>IAMGOLD Stock Rises 39% in 3 Months: How Should You Play the Stock?</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nIAMGOLD Stock Rises 39% in 3 Months: How Should You Play the Stock?\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-09-13 01:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/iamgold-stock-rises-39-3-170000981.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>IAMGOLD IAG shares have gained 39.1% over the past three months against the industry's 17.2% growth. This intermediate gold producer has also outpaced leading gold producers like Newmont Corporation ...</p>\n\n<a href=\"https://finance.yahoo.com/news/iamgold-stock-rises-39-3-170000981.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU0330918003.SGD","symbol_name":"Blackrock World Mining A2 SGD-H","start_time":0,"source_url":"https://finance.yahoo.com/news/iamgold-stock-rises-39-3-170000981.html","article_id":"2467780507","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/G5XrE0LCS4YCOUlUAoD4SQ--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/aaa340faeefa7ee40b3aaf505e5e01be"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2467780507","pubTimestamp":1726160400,"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"IAMGOLD IAG shares have gained 39.1% over the past three months against the industry's 17.2% growth. This intermediate gold producer has also outpaced leading gold producers like Newmont Corporation NEM, Barrick Gold Corporation GOLD and Agnico Eagle Mines Limited AEM.IAG’s Share Price Performance Vs Industry & Few Top Miners. Westwood’s output grew 84% to 35,000 ounces, the highest quarterly production at Westwood since it restarted operations in June 2020.The Cté Gold mine had its first full quarter of production, contributing 20,000 ounces of gold to IAMGOLD’s output in the second quarter.Essakane's attributable production guidance was raised to 380,000-410,000 ounces due to the positive grade reconciliation and stable year-to-date operations. Westwood’s guidance was also revised to 115,000-130,000 ounces, reflecting higher production from the underground mine. Total production guidance for both the mines is at 495,000-540,000 ounces.","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"LU0330918003.SGD":"Blackrock World Mining A2 SGD-H","LU0345770308.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) ACC","LU0788109121.HKD":"BGF WORLD MINING \"A2\" (HKDHGD) ACC","BK4017":"黄金","GOLD":"巴里克黄金","LU2462611646.USD":"AMUNDI FUNDS REAL ASSETS TARGET INCOME \"A2\" (USD) INC MTI","BK4533":"AQR资本管理(全球第二大对冲基金)","LU1883866441.USD":"AMUNDI FUNDS REAL ASSETS TARGET INCOME \"A2\" (USD) ACC","LU2498475776.HKD":"AMUNDI FUNDS REAL ASSETS TARGET INCOME \"A2\" (HKD) INC","LU0654597011.USD":"BGF NATURAL RESOURCES \"A4G\" (USD) INC","LU0266512127.USD":"摩根大通环球自然资源 A(acc)","LU0300736492.USD":"FRANKLIN NATURAL RESOURCES \"A\" (USD) INC","LU0456854461.SGD":"JPMorgan Funds - Global Natural Resources A (acc) SGD","LU0612318971.USD":"BGF NATURAL RESOURCES \"A5G\" (USD) INC","LU0498741890.SGD":"FTIF - Franklin Gold and Precious Metals A (acc) SGD","BK4570":"地缘局势概念股","SG9999001143.SGD":"United Gold and General A Acc SGD","LU0345780521.USD":"NINETY ONE GSF GLOBAL GOLD \"A\" (USD) INC","LU0498741114.HKD":"FRANKLIN GOLD & PRECIOUS METALS \"A\" (HKD) ACC","BK4585":"ETF&股票定投概念","NEM":"纽曼矿业","LU0345770993.USD":"NINETY ONE GSF GLOBAL STRATEGIC EQUITY \"A\" (USD) INC","LU0630314457.HKD":"NINETY ONE GSF GLOBAL NATURAL RESOURCES \"A\" (HKD) ACC","IAG":"IAMGOLD Corp","LU1223082519.USD":"SCHRODER ISF GLOBAL GOLD \"A\" (USD) INC AV","LU1023059493.AUD":"Blackrock World Mining A2 AUD-H","LU0788108826.HKD":"BGF WORLD GOLD \"A2\" (HKDHGD) ACC","LU1223083913.SGD":"Schroder ISF Global Gold A Acc SGD-H","AEM":"伊格尔矿业","LU0724618789.USD":"BGF WORLD GOLD \"A4\" (USD) INC","BK4588":"碎股","LU0055631609.USD":"贝莱德世界黄金基金A2","LU0345781412.USD":"NINETY ONE GSF GLOBAL NATURAL RESOURCES \"A\" (USD) INC","LU0278409577.USD":"MANULIFE GLOBAL FUND-GLOBAL RESOURCES FUND \"AA\" (USD) INC","LU1223082196.USD":"施罗德环球黄金A Acc","LU1430597077.USD":"BGF NATURAL RESOURCES \"A\" (USD) INC","LU0075056555.USD":"贝莱德世界矿业基金A2","LU0345780950.USD":"NINETY ONE GSF GLOBAL NATURAL RESOURCES \"A\" (USD) ACC","LU0612318385.USD":"BGF NATURAL RESOURCES \"A2\" (USD) ACC","LU1169590202.USD":"ALLSPRING (LUX)  U.S. SELECT EQUITY \"I\" (USD) ACC","LU0345780281.USD":"NINETY ONE GSF GLOBAL GOLD \"A\"  ACC","LU0368265764.SGD":"Blackrock World Gold Fund A2 SGD-H","LU1169589451.USD":"ALLSPRING (LUX)  U.S. SELECT EQUITY \"A\" (USD) ACC","BK4532":"文艺复兴科技持仓","LU0496367417.USD":"富兰克林黄金和贵金属A（acc）"},"translate_title":"IAMGOLD股票3个月内上涨39%：你应该如何玩这只股票？","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"NEM":1,"AEM":1,"GOLD":1,"IAG":1},"content_text":"IAMGOLD IAG shares have gained 39.1% over the past three months against the industry's 17.2% growth. This intermediate gold producer has also outpaced leading gold producers like Newmont Corporation NEM, Barrick Gold Corporation GOLD and Agnico Eagle Mines Limited AEM.\nIAG’s Share Price Performance Vs Industry & Few Top Miners\nImage Source: Zacks Investment Research\nThe IAG stock has generally performed in line with the industry until the second-quarter 2024 results led to a notable 16% increase in a day. This jump, which was the stock's largest daily gain since the start of the year, was driven by the Côté Gold mine delivering the first full quarter of production.\nThe IAG stock has gained since. At the current price of $4.94, it is trading at a 7% discount to the 52-week high of $5.31 reached on Aug. 21, 2024. This presents a buying opportunity for investors looking to capitalize on future gains.\nTechnical Indicators Signal Bullish Trend for IAG\nImage Source: Zacks Investment Research\nThe IAG stock is currently riding above both the 50-day simple moving average (SMA) and 200-day SMA, signaling a bullish trend. This technical strength highlights positive market perception and confidence in IAMGOLD’s growth prospects.\nFactors That Have Contributed to IAMGOLD’s Rally\nSolid Y/Y Improvement in Q2: IAMGOLD announced second-quarter adjusted earnings per share of 16 cents on Aug 8, a turnaround from the loss of 1 cent incurred in the year-ago quarter. Revenues surged 61.1% year over year to $385 million. The upside was driven by a 38% increase in gold sales and a 16% jump in realized gold prices.\nEssakane & Westwood Shine, Cote Gold Starts Production: IAG’s attributable total production in the second quarter was 166,000 ounces, marking a 55.1% year-over-year increase. The Essakane mine’s attributable production of 111,000 ounces rose 26.1% year over year due to higher grades.\nWestwood’s output grew 84% to 35,000 ounces, the highest quarterly production at Westwood since it restarted operations in June 2020.\nThe Côté Gold mine had its first full quarter of production, contributing 20,000 ounces of gold to IAMGOLD’s output in the second quarter.\nUpbeat Outlook for 2024: IAMGOLD expects production from the Côté Gold mine in 2024 to be near the lower end of 130,000-175,000 ounces (on a 60.3% basis). IAG has the financing in place and is set to buy a 9.7% interest in Côté Gold on Nov. 30, 2024. This will take its stake in the project to 70%. We expect the contribution from the mine to IAG’s production in 2024 to be higher once this deal is completed.\nEssakane's attributable production guidance was raised to 380,000-410,000 ounces due to the positive grade reconciliation and stable year-to-date operations. Westwood’s guidance was also revised to 115,000-130,000 ounces, reflecting higher production from the underground mine. Total production guidance for both the mines is at 495,000-540,000 ounces.\n Image Source: IAMGOLD\nCash Cost Guidance Revised Downward: The cash cost guidance range for Essakane and Westwood has been revised downward from $1,280-$1,400 per ounce sold to $1,175-$1,275 per ounce sold. All-in-sustaining-cost guidance has also been revised downward from $1,780-$1,940 per ounce sold to $1,700-$1,825 per ounce sold. IAG stated while inflationary pressures have eased, pricing for certain consumables, including cyanide and grinding media, remain in line with the 2023 levels.\nRising Estimates Instill Confidence in IAG’s Earnings\nThe Zacks Consensus Estimate for IAMGOLD’s 2024 and 2025 earnings have moved up over the past 60 days.\nImage Source: Zacks Investment Research\nThe consensus mark for 2024 and 2025 top and bottom lines suggests year-over-year improvements. This reflects analysts' upbeat expectations of the company’s production numbers and gold prices.\nImage Source: Zacks Investment Research\nImage Source: Zacks Investment Research\n \nCôté Gold Mine to be a Key Catalyst for IAMGOLD\nThe Côté Gold mine is operated as a joint venture between IAG and Sumitomo Metal Mining Co., Ltd. The mine has delivered milestones this year so far — the first gold pour on March 31, 2024, delivering a full quarter of production in the second quarter, and started commercial production on Aug. 2, 2024.\nThe project continues to be on track to achieve the goal of 90% throughput by the end of the year and start 2025 on a solid footing. It will also lead in terms of technology and will be mined by a fleet of 23 autonomous haul trucks, six autonomous drills and other supporting equipment. This will ensure efficiency, safety and lower costs. The company is also exploring the adjacent Gosselin pit to improve returns from the Côté Gold project.\nIn the first six years of operation, Côté Gold’s expected gold output will likely be 4.95 million ounces and over the life of the mine, it will average 3.65 million ounces per year. In terms of production, the mine is the third top gold mine in Canada, following Agnico Eagle’s Detour Lake & Malartic.\nSolid Rally in Gold Prices Bodes Well for IAG\nGold prices have increased 21.8% year to date and are currently at $2,516.92 an ounce. The bullion is being supported by expectations of a rate cut this month and geopolitical tensions.\nAnalysts expect this momentum to continue and are projecting gold prices to scale to around $3,000 an ounce by 2025, backed by solid demand amid limited supply prospects.\nIAG’s Investment in Growth Projects to Bear Fruit\nAs of June 30, 2024, IAMGOLD had an available liquidity of $915.7 million, comprised of cash and cash equivalents of $511.4 million, and the available balance of the secured revolving credit facility of $403.3 million. IAG’s debt-to-capital ratio was at 0.23 as of June 30.\nIAG continues to invest in maximizing production and increase the life of its existing mines, advancing development and exploration projects.\nSignificant operational projects planned for the next years include the Westwood ramp-up to safely access other mining areas that were affected by the seismic activity in 2020. It also includes other multi-site infrastructure investments, mill and plant upgrades, fleet and utilization improvements, tailings and surface water management optimization and additional pit developments at Essakane. These projects are expected to reduce or control the company’s cost structure and improve efficiency.\nThe company’s exploration projects, such as Nelligan and Monster Lake in northern Quebec, are also expected to be developed together to make a quality gold mine complex with a low cost structure and a substantial mine life.\nIAG’s Valuation is Attractive\nIAMGOLD is currently trading at a forward price/sales of 1.59X compared with the industry's 3.04X. The company is also less expensive than other gold miners like Newmont, Barrick Gold and Agnico Eagle Mines.\nImage Source: Zacks Investment Research\n \nIs it too Late to Buy the IAG Stock?\nIAMGOLD is poised for growth, supported by an upward trend in gold prices, the ongoing ramp-up at Côté Gold, and the established portfolio of early-stage and advanced exploration projects within high-potential mining districts.  Given its attractive valuation and upbeat prospects, investors can accumulate more shares.\nIAG currently sports a Zacks Rank #1 (Strong Buy) and boasts a Value Score of B, making it an attractive investment option, according to Zacks' proprietary methodology. You can see the complete list of today’s Zacks #1 Rank stocks here.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nNewmont Corporation (NEM) : Free Stock Analysis Report\nAgnico Eagle Mines Limited (AEM) : Free Stock Analysis Report\nIamgold Corporation (IAG) : Free Stock Analysis Report\nBarrick Gold Corporation (GOLD) : Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.26.4","shortVersion":"4.26.4","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2467780507"}