Stock in Focus: IAMGOLD Corporation (IAG)

Company Profile:

IAMGOLD Corporation explores for, develops, and operates gold mining properties in North and South America, and West Africa. It also explores for copper and silver. The company owns interests in the Rosebel gold mine located in north eastern Suriname, South America; the Essakane gold mine in north-eastern Burkina Faso, West Africa; the Westwood gold mine in southwestern Québec, Canada; and the Sadiola Gold Mine located in southwest Mali, West Africa. It holds interests in various other projects, including the Boto gold project in Senegal; the Pitangui project in Brazil; the Siribaya project in Mali; the Loma Larga project in southern Ecuador; and the Eastern Borosi project in Northeast Nicaragua. IAMGOLD Corporation was incorporated in 1990 and is headquartered in Toronto, Canada.

Recent News:

On December 12, 2018, the company announced an initial Mineral Resource estimate for the Gossey satellite deposit, located approximately 15 kilometres northwest of its Essakane operation in Burkina Faso.

On November 15, 2018, the company has amended its revolving credit facility (the “Corporate Facility’), with the amount increased to $500 million from $250 million and the term extended to 2023.

Fundamental Analysis:

Ninestocks analyzes several different financial aspects: Growth, Profitability, solvency and efficiency.

Growth – Measures the growth of both the company’s income statement and cash flow.

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Profitability – Measures the historical price movement of the stock.

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Solvency – Measures the solvency of the company based on several ratios.

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Efficiency – Measures the strength and historic growth of a company’s return on invested capital.

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Conclusion:

IAG’s strengths can be seen in its strong growth and robust profitability compared with its peers. Technical indicators signal the bullish signs, as there is a bullish crossover in Stochastic oscillator, the MACD is trying to cross back up and the RSI stands at 40.88 with positive bias. We rate IAMGOLD Corporation (IAG) a STRONG BUY.

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