| Iamgold Corp. Moves Up in 2017 | |
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- By Alberto Abaterusso
On Wednesday, shares of Iamgold Corp. (IAG) rose 0.82% on the New York Stock Exchange following the release of operational results for 2017. The Canadian mid-tier gold producer released them via its website.
The gold stock is trading at $6.16 per share and has a market capitalization of $2.84 billion, according to a total volume of 464.9 million shares outstanding. Of that, 42.35% is held by institutions, including Van Eck Associates Corporation, which owns the highest stake or 12.18% of shares as of Sept. 29. According to this chart from Yahoo Finance, the stock is up trending again after a massive pull-back in which Iamgold Corp. lost nearly 30%. The company expects to report an all-in sustaining cost of approximately $1,000 per ounce of metal sold in 2017 versus a guidance range of $1,000 to $1,040 per ounce. Steve Letwin, the President and Chief Executive Officer of Iamgold Corp, said that the company closed the year with a liquidity of about $1 billion and that Iamgold plans to invest funds at Saramacca, Essakane and the Cote Gold project in Ontario. Letwin also projects a gold production of 1.2 to 1.3 million ounces in four years and all-in sustaining costs decline of $850 per ounce of metal sold, all in four years. (Disclosure: I don't have positions in Iamgold Corp or the VanEck Vectors Gold Miners ETF.) This article first appeared on GuruFocus.
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IAMGOLD Corporation
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PRODUCER |
CODE : IMG.TO |
ISIN : CA4509131088 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
IAMGOLD is a gold producing company based in Canada. IAMGOLD produces gold, diamonds, lead, niobium, rare earth, silver and zinc in Botswana, in Canada, in Ecuador, in Ghana, in Guyana, in Indonesia, in Mali, in Peru, in South Africa, in Suriname and in Tanzania, develops gold in Burkina Faso, in Ecuador and in French Guyana, and holds various exploration projects in Canada, in Ecuador, in Honduras, in Peru and in South Africa. Its main assets in production are OMAI MINE in Guyana, MOUSKA MINE, PORCUPINE, SLEEPING GIANT, DOYON, NIOBEC and GRAND DUC in Canada, YATELA and SADIOLA in Mali, MUPANE in Botswana, DAMANG PROJECT, TARKWA and TEBEREBIE in Ghana, ROSEBEL in Suriname, ZARUMA in Ecuador, ARDO MINE in South Africa, BUCKREEF in Tanzania, RAWAS GOLD PROJECT in Indonesia and TAMBORAQUE in Peru, its main assets in development are ESSAKANE in Burkina Faso, CAMP CAIMAN in French Guyana and QUIMSACOCHA PROJECT in Ecuador and its main exploration properties are BAMBADJI in Senegal, TEX-SOL, LESPERANCE, CREVIER and WESTWOOD in Canada, ALAMOUTALA (SADIOLA II) and SIRIBAYA in Mali, GILT EDGE MINE & ANCHOR HILL in Ecuador, PODEROSA MINE in Peru and VUELTAS DEL RIO / EL ZAPOTAL in Honduras. IAMGOLD is listed in Australia, in Canada, in Germany and in United States of America. Its market capitalisation is CA$ 2.4 billions as of today (US$ 1.7 billions, € 1.6 billions). Its stock quote reached its highest recent level on April 28, 2006 at CA$ 9.98, and its lowest recent point on September 30, 2022 at CA$ 1.27. IAMGOLD has 464 620 000 shares outstanding. |