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Comments (14)

chasingpriceaction profile picture
Bought at 1.5 and I've already taken profits. This stock is great for trading only.
@Vladimir Zernov
- While I definitely understand "shares of a higher-cost producer like IAMGOLD are more sensitive to gold price upside"
- I am not sure what you mean by: "Gold stocks, which had a good 2019, found themselves under a massive wave of profit-taking." - Why to cash out of gold stocks when gold is moving up (even if short-term), I see a rush to cash out from $SPY for ex.
- Now, debt not high I agree, but credit rating is awful (B1/B+), probably because of high cost / high risk mines, and low cash-flow...maybe these are the reasons of underpeformance comparing to gold or even other gold miners?!
jimbobiii profile picture
The rating agencies use any excuse to knock down non-green companies
Vladimir Zernov profile picture
@antoncretu to save yourself from a margin call elsewhere, that's the reason to raise cash from a good performing gold stock.
I agree that they will likely green light Boto ahead of Cote. Another thought I had is they look to sell Boto to B2Gold who has mines in the same area and use this additional funding to finance the Cote project. Thoughts on this possibility.
jimbobiii profile picture
A logical thought!
Vladimir Zernov profile picture
Interesting thoughts!
I listened to the conference call also. What are the chances the company sells one of these mines?
Vladimir Zernov profile picture
It is possible in the current gold price environment, but I don't think that there'll be any deals in the short term due to coronavirus fears which restricts travel more and more, and also due to the fact that many will decide to sit on cash for awhile to see whether the world economy enters a material recession.
$4 2021 calls....lots of them.
@Vladimir Zernov. Iamgold doesn't have benefits of doubt. For number of years the company management proved to be inept. Let's see new management performance before we can turn bullish. Why to invest in proven laggard?
Vladimir Zernov profile picture
We'll see whether the new management will change IAG ways. The first move (present a conservative guidance to beat it later) looks normal, but, of course, more serious improvements are required to take the stock out of the range and above $4.00.
Joelg5 profile picture
A great article. I entirely agree. Eventually the higher gold prices and their good balance sheet will make them a value play. When that “eventually” will be is the big question.
Vladimir Zernov profile picture
They should make investor-friendly moves, step by step. Another problematic miner, AUY, adopted such steps, and now their stock is in a stable uptrend.
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