JD400
8 months ago
Short Interest in IAMGOLD Co. (NYSE:IAG) Decreases By 9.7%
Written by MarketBeat
April 15, 2024
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IAMGOLD logoIAMGOLD Co. (NYSE:IAG -TSE: $IMG was the target of a large drop in short interest in March. As of March 31st, there was short interest totalling 8,010,000 shares, a drop of 9.7% from the March 15th total of 8,870,000 shares. Based on an average trading volume of 8,450,000 shares, the days-to-cover ratio is presently 0.9 days. Approximately 1.6% of the shares of the stock are short sold.
Today
IAMGOLD Stock Down 2.2 %
Two Tiny Mining Stocks Worth Considering for the Next Gold Rush
IAG traded down $0.08 during trading on Monday, reaching $3.53. 1,647,328 shares of the stock traded hands, compared to its average volume of 8,604,386. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 19.16, a price-to-earnings-growth ratio of 1.24 and a beta of 1.69. IAMGOLD has a fifty-two week low of $1.99 and a fifty-two week high of $3.92. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.19 and a quick ratio of 0.77. The stock's 50-day simple moving average is $2.98 and its two-hundred day simple moving average is $2.61.
IAMGOLD (NYSE:IAG - Get Free Report) TSE: IMG last released its quarterly earnings data on Thursday, February 15th. The mining company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.02 by $0.04. The firm had revenue of $297.60 million during the quarter. IAMGOLD had a return on equity of 1.97% and a net margin of 9.55%. As a group, equities research analysts expect that IAMGOLD will post 0.07 EPS for the current year.
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Institutional Trading of IAMGOLD
A number of institutional investors and hedge funds have recently made changes to their positions in IAG. Helikon Investments Ltd acquired a new stake in shares of IAMGOLD in the fourth quarter worth about $23,722,000. Two Sigma Investments LP lifted its position in shares of IAMGOLD by 492.0% in the first quarter. Two Sigma Investments LP now owns 7,284,801 shares of the mining company's stock worth $19,742,000 after buying an additional 6,054,262 shares during the last quarter. Norges Bank acquired a new stake in shares of IAMGOLD in the fourth quarter worth about $12,557,000. Donald Smith & CO. Inc. lifted its position in shares of IAMGOLD by 13.9% in the fourth quarter. Donald Smith & CO. Inc. now owns 35,778,309 shares of the mining company's stock worth $90,519,000 after buying an additional 4,358,444 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd acquired a new stake in shares of IAMGOLD in the fourth quarter worth about $10,972,000. Institutional investors and hedge funds own 47.08% of the company's stock.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on the company. BMO Capital Markets increased their target price on IAMGOLD from $4.00 to $4.25 and gave the company an "outperform" rating in a report on Friday, April 5th. National Bank Financial restated a "sector perform spec overwgt" rating on shares of IAMGOLD in a report on Monday, April 8th. CIBC increased their target price on IAMGOLD from $3.00 to $3.10 and gave the company a "neutral" rating in a report on Wednesday, February 7th. Finally, StockNews.com upgraded IAMGOLD from a "sell" rating to a "hold" rating in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, IAMGOLD has an average rating of "Hold" and a consensus price target of $3.52.
https://www.marketbeat.com/instant-alerts/nyse-iag-options-data-report-2024-04-15/
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roadkilll
9 months ago
JP Morgan - Stephen Jury (Not a goldbug news letter)
Managing Director
Mar 13, 2024
Our outlook on gold
We have a constructive outlook on gold over the next 12 months. We currently expect that the Federal Reserve will begin to cut interest rates in the United States – likely beginning in June, subject to revision. In our opinion this should set the stage for gold appreciation. A persistent theme of geopolitical tension should continue to drive Central Bank reserve diversification. In addition, 2024 will see over 60 countries – representing around half of the world’s population – heading to the polls for national elections. Tragically, two regional conflicts are still ongoing, and these may have an impact on global supply chains.
We look for more Central Banks to add to their buying momentum this year and assume these buyers may be less sensitive to prices. We look for retail ETF investors to come back to the market and begin accumulating gold once again as yields fall. Gold investment is not currently a crowded position. Investors have been lured by high cash interest rates – and we are particularly interested in this development. Under-owned and under-appreciated investments are often ripe for appreciation. Our current outlook for year-end 2024 is $2,250-2,350.
NYBob
3 years ago
Globex Purchases the Rouyn Merger Gold Property
T.GMX |
ROUYN-NORANDA, Quebec, Aug. 05, 2021 (GLOBE NEWSWIRE) --
GLOBEX MINING ENTERPRISES INC. (GMX – Toronto Stock Exchange, G1MN – Frankfurt, Stuttgart, Berlin, Munich, Tradegate, Lang & Schwarz, LS Exchange, TTM Zone, Stock Exchangesand GLBXF – OTCQX International in the US) is pleased to inform shareholders that Globex has purchased 100% interest in a block of claims in Rouyn and Joannes townships, Quebec (NTS 32D02) approximately 10 km east of Rouyn-Noranda herein called the Rouyn Merger property.
The property consists of 49 claims totaling 1,509.4 hectares (3,729.8 acres) covering approximately 6.5 kilometres (4.04 miles) of the prolific, gold localizing Cadillac Break.
$The vender, IAMGOLD Corporation (IMG–TSX), received 183,000 Globex shares subject to a 4 month hold period and a 1% Net Smelter Royalty.
The Rouyn Merger property includes several areas of known gold mineralization including the Rouyn Merger, O’Neil-Thompson and East O’Neil zones which have seen historical drilling to relatively shallow depth, outlining in some cases significant but erratic gold vein structures at or near the gold localizing Cadillac Break.
The Cadillac Break is one of the most important gold localizing structures in the Abitibi of Quebec and Ontario with numerous gold deposits located along its length.
The Rouyn Merger property has been explored intermittently since the 1930’s when the Rouyn Merger gold deposit was found. Various non-compliant resource calculations have been undertaken on the Rouyn Merger gold zone but, due to the structural complexity of the ore lenses and expected high levels of dilution, production has been limited to a brief period in 1948-1949 of 32,198 t grading 3.87 g/t Au.
Metallurgical testing between 1943 and 1947 indicated 95% gold recovery by treating ore crushed to 60% minus 200 mesh. Likewise, exploration on the O’Neil-Thompson gold zone outlined a non NI 43-101 compliant resource and limited production in 1936 of 2,449 tonnes.
Other occurrences such as the East O’Neil have published but unverifiable resources.
The most recent work on the property was in 2015-16 during which an aeromag survey was flown, mapping and surface sampling undertaken and seven drill holes completed totaling 1,956 metres in three target areas.
Several holes intersected significant gold values, such as Hole RM15-05 which returned 16.0 g/t Au over 1 metre from 277.5 to 278.5 m followed by 4.19 g/t Au over 0.5 m from 278.5 m to 279.0 m.
The target of this exploration was to locate a large tonnage, low grade, bulk mineable gold deposit not higher grade underground minable, narrower vein deposits historically mined along the Cadillac Break.
Prior to acquiring the property, Globex undertook 3D modeling of all the readily available geological, geophysical and drill data.
The modeling has allowed Globex to identify a number of priority areas for drilling many at shallow depth but others at mid-level depths of 500 metres and below.
Although the area was flown as recently as 2015 with an aeromagnetic survey, Globex believes that the details provided by closely spaced lines using the Novatem aeromagnetic system may unlock a better understanding of the geological trends and structures and Globex intends to undertake such a survey over the entire property but at a different angle than the previous survey in order to merge such data with our 3D modeling.
This press release was written by Jack Stoch, Geo., President and CEO of Globex in his capacity as a Qualified Person (Q.P.) under NI 43-101.
We Seek Safe Harbour. Foreign Private Issuer 12g3 – 2(b)
CUSIP Number 379900 50 9
LEI 529900XYUKGG3LF9PY95
For further information, contact:
Jack Stoch, P.Geo., Acc.Dir.
President & CEO
Globex Mining Enterprises Inc.
86, 14th Street
Rouyn-Noranda, Quebec Canada J9X 2J1
Tel.: 819.797.5242
Fax: 819.797.1470
info@globexmining.com
http://www.globexmining.com
Forward Looking Statements: Except for historical information, this news release may contain certain “forward looking statements”. These statements may involve a number of known and unknown risks and uncertainties and other factors that may cause the actual results, level of activity and performance to be materially different from the expectations and projections of Globex Mining Enterprises Inc. (“Globex”). No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Globex will derive therefrom. A more detailed discussion of the risks is available in the “Annual Information Form” filed by Globex on SEDAR at www.sedar.com.
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INDUSTRIAL METALS & MINERALS
whytestocks
5 years ago
News: $IAG Exploring Mining Podcast: News from (NYSE: NEM) (NYSE: MT) (NYSE: IAG) (NYSE: AU) (TSXV: ZON)
Point Roberts, WA and Delta, BC - December 26, 2019 (Investorideas.com Newswire) Investorideas.com, a global investor news source covering mining and metals stocks releases today's edition of Exploring Mining Podcast , featuring stock news from TSX, TSXV ,CSE, ASX, NASDAQ, NYSE companies plus i...
In case you are interested IAG - Exploring Mining Podcast: News from (NYSE: NEM) (NYSE: MT) (NYSE: IAG) (NYSE: AU) (TSXV: ZON)
whytestocks
5 years ago
News: $IAG Exploring Mining Podcast: News from (NYSE:IAG) (TSXV:AMK) (TSXV:BHS) (CSE:ABC) (TSXV:AWX)
Point Roberts, WA and Delta, BC - October 4, 2019 (Investorideas.com Newswire) Investorideas.com, a global investor news source covering mining and metals stocks releases today’s edition of Exploring Mining Podcast , featuring stock news from TSX, TSXV ,CSE, ASX, NASDAQ, NYSE companies p...
In case you are interested IAG - Exploring Mining Podcast: News from (NYSE:IAG) (TSXV:AMK) (TSXV:BHS) (CSE:ABC) (TSXV:AWX)
basserdan
6 years ago
IAMGOLD (IAG) (IMG.to) and All-In Sustaining Costs magic
2/20/19
IAMGOLD (IMG.to) (IAG) reported its Q4 tonight and once again, we get to marvel about the way in which All-In Sustaining Costs (AISC) is used by the mining industry:
* 4q18 average realized gold price: U$1,233/oz
* 4q18 AISC per ounce sold: U$1,123
* Number of ounces sold: 220,000
So that means they make a U$24.2m* profit on the quarter, right?
Wrong. Because when real accounting rules are applied, IMG's gross profit ($17.1m) isn't even up at that level. So just forget about adjusted net earnings of NEGATIVE $16.1m or real bottom line net earnings NEGATIVE $34.8m. What's the point of having this supposed industry standard measurement when companies like this jokeshow of fakery just make shit up and massage their figures to Kingdom come? What's the point of even labelling a cost metric "All-In" when it's obviously nothing of the sort? Why do fools fall in love? And why is Steve Letwin still employed?
*220k X (1233-1123)
https://incakolanews.blogspot.com/2019/02/iamgold-iag-imgto-and-all-in-sustaining.html?
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