DESCRIPTION: IAMGOLD is a leading mid-tier gold mining company producing almost one million ounces annually from 8 mines on three continents. The company is focused on growth with a target to reach 1.8 million ounces gold production by 2012. IAMGOLD is uniquely positioned with a strong financial base, together with the management and operations expertise to execute our aggressive growth objectives. It is focused in West Africa, the Guiana Shield of South America and Québec where it has a pipeline of development and exploration projects, while it continues to assess accretive acquisition opportunities with a strategic fit.
The information provided below is based on the most recent information we have received from analysts, newsletters and other contributors to Streetwise Reports' The Gold Report or The Energy Report. We encourage you to visit the company's web site and call the company for more specifics on this company before you decide to invest.
"IAMGOLD Corporation is another mid cap. Startup at Essakane, their new mine in Burkina Faso, is going very well. We're looking forward to the company naming a new CEO. Operationally, they seem to be doing very well. They have some projects that will allow the company to grow. That's another one that we like."
View Entire Article: Joe Foster: Catalysts Pushing Gold
Canaccord Capital, Morning Coffee
(08/12/10)
"Blame it on the rain. IAMGOLD's Q210 adjusted diluted EPS came in at US$0.10 vs. Canaccord Genuity's estimate of US$0.16 and consensus of US$0.15, with the shortfall mostly explained by higher cash costs. Production was 190 Koz. at US$623/oz. vs. our estimate of 199 Koz. at US$535/oz. Canaccord Genuity Precious Metals Analyst Steven Butler highlighted that the weakness was largely driven by temporarily lower grades at Rosebel as heavy rainfall required processing of low-grade stockpile material. Production guidance has been revised to 980,000–1,010,000 oz. at US$530– US$550/oz. vs. 940,000–1,000,000 oz. at US$490–US$510/oz. previously. Commercial production at Essakane is expected to commence in the second half of July vs. our previous assumption of mid-August. Butler maintains his bullish view on IAMGOLD based on the company's relative valuation and superior leverage to higher gold prices."
Paul Ausick, InvestorPlace (08/11/10)
"In the past year, gold prices have risen from about $950/oz. to around $1,200/oz., a boost of 26%. That increase has kept gold miners' stocks moving, too.
IAMGOLD Corp. has performed very well, jumping about 50% in the past year. IAMGOLD revised its production outlook and cash cost estimates upward for the rest of 2010. Production guidance rose from 940 Koz.–1 Moz. to 980 Koz.–1.01 Moz. Cost estimates jumped from $490–$510/oz. to $530–$550/oz. In order to make that cost estimate a reality, the company expects to 'deliver robust production at lower cash costs.'"
Haytham Hodaly, Salman Partners Inc.
(08/11/10)
"IAMGOLD reported Q2 2010 adjusted net earnings of US$0.11 per share. . .Throughout the quarter, the company produced 190,000 ounces of gold (on an attributable basis) at an average cash cost of US$623/oz. . .IAMGOLD indicated that it has revised its 2010 gold production guidance upwards to between 980,000 and 1,010,000 ounces. . .to reflect the higher production now expected from Essakane.
As of the end of the quarter, the company had cash, cash equivalent and gold bullion (at market value) of US$227.9 million, held working capital of US$215.2 million (US$299.2 million if gold bullion is considered at market value) and had roughly US$350 million available under its credit facility. The company indicated that it expects to have sufficient resources to fund its 2010 total exploration and development expenditures, which are US$42.2 million and US$408.0 million, respectively. . .We reiterate our BUY recommendation and target price of Cdn$21.00 per share on the shares of IAMGOLD."
Chip Brian, SmarTrend (08/06/10)
"Below are the top five companies in the gold industry as measured by relative performance. This analysis was compiled based on yesterday's trading activity as we search for stocks that have the potential to outperform.
New Gold ranks first with a gain of 7.39%; Aurizon Mines ranks second with a gain of 3.97%; and IAMGOLD ranks third with a gain of 0.99%. Newmont Mining follows with a gain of 0.82% and AngloGold Ashanti rounds out the top five with a gain of 0.81%."
Watch IAMGOLD featured on Mining Weekly (5/20/10)
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