IAMGOLD Corp (USA) (NYSE:IAG)
The Company is engaged in the exploration, development and operation of gold mining properties and of a niobium mine.
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I'm All In.
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gold keeps getting hammered and IAG is trading at 0.50 book. As each gold stock hits multi year lows ease into positions for all of them if you think gold is a good investment long term.
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Gold miners will come back and iag has mine diversification, niobium, good mgmt and one of best dividends
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Low PE Gold Miner. Pays decent dividend
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Why do I like IAG?
Price below tangible book value: Yes
Most recent annual EPS positive: Yes
Pays annual dividend over 3%: Yes
Annual dividend less than 50% of annual EPS: Yes
Net profit margins, TTM and 5 yr. Avg. both over 15%: Yes
Current ratio greater than 2: Yes
10 years positive EPS history: No
5 year EPS growth: No
5 year dividend growth: Yes
Located in US/Canada: Yes
P/E Ratio under 10: Yes
Score: 9/11
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Oversold. Target $9+
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Gold sources will not grow for the time being. It is especially negatively correlated with equities as long as neg real interest rates begin to push people back to stocks.
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This is a steal
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$13 in the next few months.
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TP $14 EPS $1.20 PE 16.0 3% div yield, hi risk
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Short and long term a cheap way to play gold.
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shopping for bargains and found this one
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Playing the bounce
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more gold
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Evaluating a screen. Feel free to ignore.
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Huge prove reserves and beaten down price make this mining stock ready to move way up as precious metals make a rebound with worsening world wide economic news.
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9/18/11 Options Predictor Rank #39. P/C Ratio 0.095 and Call Sizzle 3.081.
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Took a hit at earnings but with commodities on the rebound over just the next few weeks.
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Paulson pick. Morningstar also tagged it as a potential takeover target
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From MarketWatch, Aug 19, 2010: IAMGOLD today announced that its Essakane gold mine in Burkina Faso has achieved commercial production effective July 16, 2010. The plant began to process material to test circuits in late June 2010, reaching the throughput, production and other operational standards to meet commercial production requirements beginning July 16, 2010. The plant has since met those performance criteria consistently for the necessary 30 consecutive days (the 'Start Up Period") to declare commercial production.
During the Start Up Period, the Essakane mine processed an average of more than 16,000 tonnes per day, exceeding the 60% hurdle rate of design throughput required to establish commercial production. Ramp up continues, and during the first half of August, the Essakane process plant has been operating at approximately 75% of design capacity. During the Start Up Period, the operation produced an estimated 17,400 ounces of gold that indicated a gold recovery rate above 95%, effectively at feasibility design levels. With the July 16, 2010 start date, Essakane is expected to produce 165,000 to 175,000 ounces of gold in 2010 (on a 100% basis) at a cash cost below $400 per ounce (including royalty). The Company currently expects that Essakane will produce an average of 315,000 ounces of gold per year at an average cash cost of between $400 and $410 per ounce over the initial mine life expectancy of 12 years, however, based on recent exploration success the Company expects to expand the project.
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The sell off of the highly profitable miners today did not make much sense given their very good second quarter numbers and the expectations for higher gold prices in the second half of the year. With the India and China continuing to show growth, they will likely continue their PM purchases and may also consider direct investments in the PM miners. Compare IAGs financial numbers with the better non-miner companies to see why I believe the current sell off is another buying opportunity.
http://www.google.com/finance?q=NYSE%3AIAG
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