#6 - Iamgold Corp (NYSE:IAG)
Year-to-Date Gain: 30%
Iamgold Corp (NYSE: IAG) is a bit of a longer play as mining stock. The company is considered a mid-tier mining stock. However, they are recognized for having “accountable” mining through high standards of environmental, social, and governance (ESG) practices.
The Canadian company would have rewarded investors over the last five years with a gain of over 200%. But that gain has come with a lot of volatility. And even at its peak of just over $7 in 2017, IAG stock was still more than 200% off its all-time high.
So what makes the stock compelling? The company recently announced that it was commencing construction on a mining project in Ontario. The Cote Gold project will, in the estimate of at least one analyst, boost the company’s gold production and net asset value (NAV) up to 50% by 2024.
Iamgold also recently announced that it would be able to restart operations at its Rosebel Gold Mine after a shutdown brought on by the Covid-19 pandemic.
About IAMGOLD
IAMGOLD Corporation, through its subsidiaries, operates as an intermediate gold producer and developer in Canada and Burkina Faso. It owns 100% interest in the Westwood project that covers an area of 1,925 hectare and located in Quebec; a 60% interest in the Côté gold project, which covers an area of 596 square kilometer located in Ontario, Canada; and a 90% interests in the Essakane project that covers an area of 274,000 square kilometer situated in Burkina Faso.
Read More - Current Price
- $5.20
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 6 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $6.68 (28.5% Upside)
