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IAG

IAMGOLD Corporation

5/18/2013, 9:45 AM ET

Quote & Headlines Market Currents StockTalk

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Wednesday, May 15, 6:06 PM John Paulson, whose hedge fund is the single biggest owner of the SPDR Gold Trust (GLD), maintained a 21.8M-share position even as the value of its holdings fell ~$165M in the latest quarter. But all that remains of his Barrick Gold (ABX) holdings is 36K call options vs. 915K shares at the end of 2012. Other positions in miners AU, NG, AEM, IAG and ANV were unchanged or modestly changed. 7 Comments [Commodities]
Thursday, May 9, 10:51 AM Those wanting exposure to gold producers must pay close attention to both cash costs and balance sheets if they want to avoid ugly surprises, Clarus analyst Jamie Spratt says, suggesting a core holding of low-leverage names with longer-term upside, as they generally can fund their growth internally with relatively stronger free cash flow: ABX, IAG, BAA, OSKFF.PK, DRGDF.PK. 1 Comment [Commodities, Quick Ideas]
Wednesday, May 8, 11:13 AM Iamgold (IAG +8.2%) rallies after Q1 earnings fell Y/Y, hurt by lower revenue and higher cost of sales, but came in ahead of analyst estimates. Following the report, Canaccord upgrades IAG to Buy from Hold with an $8.25 price target; the firm thinks shares are oversold and appear cheap based on 3.2x 2014 price-to-cash flow vs. peer average of 5.4x. Comment! [Commodities, Quick Ideas, On the Move]
Tuesday, May 7, 5:33 PM IAMGOLD (IAG): Q1 EPS of $0.15 beats by $0.01. Revenue of $305.3M (-14% Y/Y) misses by $75.98M. (PR) 1 Comment [Earnings, Breaking News]
Tuesday, May 7, 12:10 AM Notable earnings after Tuesday’s close: ANDE, ARAY, AWK, AXLL, BIO, BIOL, BMC, BWC, CA, CDXS, CHRW, CODI, DGI, DGIT, DIS, DVA, EA, ENPH, EXEL, GA, GPOR, HTA, IAG, JAZZ, KGC, LYV, MAKO, MCEP, MCK, MDLZ, MITK, MRO, MYGN, NVTL, OAS, OCLR, OHI, ONXX, ORA, PRI, RBCN, SD, SGEN, SYMC, SYNC, TRIP, TWO, URS, VCLK, WBMD, WFM, WMB, WPZ, WTI, Z 1 Comment [Earnings]
Monday, May 6, 5:35 PM Notable earnings after Tuesday’s close: ANDE, ARAY, AWK, AXLL, BIO, BIOL, BMC, BWC, CA, CDXS, CHRW, CODI, DGI, DGIT, DIS, DVA, EA, ENPH, EXEL, GTEK, GA, GPOR, IAG, JAZZ, KGC, LYV, MAKO, MCEP, MCK, MDLZ, MITK, MRO, MYGN, NVTL, OAS, OCLR, OHI, ONXX, ORA, PRI, RBCN, SD, SGEN, SYMC, SYNC, TRIP, TWO, URS, VCLK, WBMD, WFM, WMB, WPZ, WTI, Z 1 Comment [Earnings]
Monday, April 29, 11:39 AM Gold miners (GDX) have been smacked by plunging gold prices, but Citigroup and HSBC think they have further to fall. Citi worries about AngloGold (AU) because negative free cash flow would hit its "already stretched balance sheet," but Harmony Gold (HMY) has the balance sheet to weather similar problems; Gold Fields (GFI) is its sector favorite. HSBC cuts GFI, Agnico Eagle (AEM) and many others. 1 Comment [Commodities, Quick Ideas]
Thursday, April 18, 8:39 AM Barrick Gold (ABX) +1.9% premarket despite news Moody’s has placed the company on review for a possible downgrade of its senior unsecured debt rating after work was halted on its $8.5B Pascua-Lama mine. Several mining/metals stocks are higher premarket after gold prices rebound: IAG +3.8%, KGC +3.6%, GOLD +3.1%, GG +2.2%, HMY +2.1%, RIO +1.9%. 1 Comment [Commodities, On the Move]
Tuesday, April 16, 7:53 PM IAMGOLD (IAG) moves to correct earlier what it describes as an inaccurate media report on company spending at its Essakane mine in Burkina Faso. The company says it's maintaining previously announced capital spending plans of around $300M at Essakane this year, with about $200M of those funds earmarked for a project to expand its throughput capacity. The company expects to complete the project in Q4, with no other projects planned. An earlier report by Reuters had said the mine was going to require an additional $360M in expenditures. Comment! [Commodities, Global & FX, On the Move]
Monday, April 15, 7:00 PM The list of 52-week lows reached today is littered with miners and resource names: ABX, ACI, AG, AKS, ANV, AU, AUQ, AUY, CDE, CLF, CVE, EGO, EXK, EXXI, FCX, FNV, FST, GFI, GG, GOLD, HL, HMY, IAG, IPI, KGC, MHR, MT, MTL, NEM, NFX, NG, NGD, NOG, PAAS, PWE, RGLD, RIC, SA, SAND, SGY, SSRI, SVM, TCK, TGB, TRQ, WLT, WTI, X. 5 Comments [Commodities, Energy]
Monday, April 15, 2:15 PM IAMGOLD (IAG -7.8%) says the Suriname parliament approved the agreement the company signed in November with the country’s government to expand its Rosebel mine. Anything in the new area also qualifies for a lower power rate, a key concession as electricity costs in Suriname, where Rosebel is the biggest single power consumer, have doubled in the past four years. Comment! [Commodities, Global & FX]
Monday, April 15, 9:15 AM Premarket gainers: S +16%. SVA +13%. BCRX +10%. LIFE +8%. NFP +7%. MGT +7%. TMO +6%. THRX +5%. NVAX +5%.
Losers: AAU -15%. MTL -10%. AUQ -11%. HMY -9%. NGD -8%. CEF -8%. SLW -8%. SAND -9%. KGC -7%. AUY -7%. GOLD -7%. MUX -7%. DSCO -7%. IAG -6%. SVM -6%. GG -6%. PAAS -6%. EGO -6%. AU -5%. CDE -5%. Comment! [On the Move]
Monday, April 15, 5:03 AM Mining stocks are taking a bit of a hiding following China's slowing GDP growth and the sell-off in precious metals. Rio Tinto (RIO) -4.5% premarket, BHP Billiton (BHP) -3.6%, Barrick Gold (ABX) -3.6%, AngloGold (AU) -5.2%, IAMGold (IAG) -1.2%, Gold Fields (GFI) -5%, Goldcorp (GG) -3.9%, Kinross (KGC) -5.1%, Seabridge Gold (SA) -2.8%, Newmont Mining (NEM) -3.4%, Freeport-McMoRan Copper & Gold (FCX) -2.85% and Anglo American (AAUKF.PK) -3.9% in London. NovaGold (NG) fell 13% on Friday. 3 Comments [Commodities, On the Move]
Thursday, April 11, 11:53 AM Societe Generale is pricing in gold at $1,500/oz. and cuts its forecasts for mining stocks accordingly. The firm downgrades AngloGold (AU -2.4%) to Hold from Buy, as the miner's desire to split its South African assets from its other mines looks less likely. Barrick (ABX +1.5%) is maintained at Sell (also), and Iamgold (IAG -2.2%) is added to the Sell list. The firm's top pick: Randgold (GOLD -1.4%). 6 Comments [Commodities, Quick Ideas]
Thursday, April 4, 5:47 PM After-hours top gainers, as of 5:15 p.m.: WDFC +6%. MAKO +5%. CAJ +3%. SNTS +3%. OIBRC +2%.
After-hours top losers: NGD -7%. HMY -6%. CDE -6%. JNPR -5%. IAG -5%. Comment! [On the Move]
Thursday, March 21, 10:59 AM IAMGOLD (IAG +3.7%) announces the startup of the Westwood gold processing plant in Quebec, which is expected to produce ~140K oz. of gold in 2013. IAG also provides a breakdown "on how [it] can achieve and potentially exceed" its $100M 2013 cost reduction program. Comment! [Commodities, On the Move]