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IAMGOLD: A Slow Start To The Year

May 04, 2021 10:16 AM ETIAMGOLD Corporation (IAG), IMG:CA11 Comments
Taylor Dart profile picture
Taylor Dart


  • IAMGOLD released its Q1 results this week, reporting quarterly gold production of ~156,000 ounces, down 8% from the year-ago period.
  • The softer performance was driven by heavy rainfall at Rosebel and no underground production from Westwood, which weighed on consolidated production.
  • While Essakane carried operations in Q1, grades will decrease for the  remainder of FY2021, so we'll need to see much stronger performance at Rosebel in H2 to meet consolidated guidance.
  • I continue to see much better opportunities elsewhere in the sector among companies under-promising and over-delivering, but I would view any pullbacks below $2.90 as low-risk buying opportunities.

Ore trucks in an open-pit mine
Photo by robas/E+ via Getty Images

The Q1 Earnings Season for the Gold Miners Index (GDX) has finally begun, and one of the first names to report its results is IAMGOLD (NYSE:IAG). Unfortunately, while most companies have

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Taylor Dart profile picture
"A bull market is when you check your stocks every day to see how much they went up. A bear market is when you don't bother to look anymore."- John Hammerslough - Disclosure: I am not a financial advisor. All articles are my opinion - they are not suggestions to buy or sell any securities. Perform your own due diligence and consult a financial professional before trading or investing.

Analyst’s Disclosure: I am/we are long GLD. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Disclaimer: Taylor Dart is not a Registered Investment Advisor or Financial Planner. This writing is for informational purposes only. It does not constitute an offer to sell, a solicitation to buy, or a recommendation regarding any securities transaction. The information contained in this writing should not be construed as financial or investment advice on any subject matter. Taylor Dart expressly disclaims all liability in respect to actions taken based on any or all of the information on this writing.

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