Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks. Looking at the history of these trends, perhaps none is more beloved than value investing. This strategy simply looks to identify companies that are being undervalued by the broader market. Value investors use tried-and-true metrics and fundamental ...

Core Viewpoint - IAMGOLD Corporation has announced a bought deal offering of 72 million common shares at a price of US$4.17 per share, aiming to raise approximately US$300 million, with the potential to increase to US$345 million if the over-allotment option is fully exercised [1][2]. Use of Proceeds - The net proceeds from the offering will be used to repurchase a 9.7% interest in the Côté Gold Mine from Sumitomo Metal Mining Co. Ltd., restoring IAMGOLD's ownership to 70% [2][4]. - Until the completion of the repurchase, the proceeds will be held in an interest-bearing account or used to repay amounts drawn under the credit facility [2][3]. Financial Context - The company believes that the net proceeds, combined with existing cash and expected cash flows, will be sufficient to fund the repurchase of the Transferred Interest [3][9]. - As of March 31, 2024, the financial liability for the Côté Gold Repurchase Option was US$366.8 million [9]. Joint Venture Background - The Côté Gold Mine operates as a joint venture between IAMGOLD and Sumitomo, with IAMGOLD holding a 60.3% interest and an option to repurchase the 9.7% interest [5][6]. - The repurchase option fee is based on the three-month Secured Overnight Financing Rate (SOFR) plus 4% on contributions made by Sumitomo [7]. Offering Details - The offering will be made in Canada (excluding Québec and Nunavut) and the United States, with the closing expected around May 24, 2024, subject to necessary approvals [11][12].

BASE SHELF PROSPECTUS IS ACCESSIBLE, AND PROSPECTUS SUPPLEMENT WILL BE ACCESSIBLE ON SEDAR+ WITHIN TWO BUSINESS DAYS TORONTO, May 21, 2024 (GLOBE NEWSWIRE) -- IAMGOLD Corporation ("IAMGOLD" or the "Company") today announced that it has entered into an agreement with a syndicate of underwriters led by National Bank Financial Markets, BMO Capital Markets and RBC Capital Markets pursuant to which they have agreed to purchase, on a bought deal basis, 72,000,000 common shares of the Company at a price of US$4.17 ...

Core Viewpoint - IAMGOLD Corporation's shares have reached a new 52-week high, driven by rising gold prices and strong first-quarter production results, particularly from the newly operational Côté Gold mine [1][2]. Company Performance - IAMGOLD's market capitalization stands at $2.25 billion, with shares increasing by 75.6% over the past three months, significantly outperforming the industry growth of 35.5% and the S&P 500's 4.8% increase during the same period [2]. - The Côté Gold mine, a joint venture with Sumitomo Metal Mining, began production in the first quarter, contributing 1,000 ounces to IAMGOLD's output, which now includes three active mines: Côté Gold, Essakane in Burkina Faso, and Westwood in Quebec [3]. - The Essakane mine produced 118,000 ounces in Q1 2024, a 28% year-over-year increase, while Westwood's output reached 32,000 ounces, up 50% year-over-year, marking its highest production since 2021 [4]. Production Outlook - IAMGOLD expects the Côté Gold mine to produce between 220,000 and 290,000 ounces of gold in 2024, with plans to ramp up operations in Q2 and achieve commercial production by Q3 2024 [5]. - For 2024, excluding Côté Gold, IAMGOLD anticipates attributable gold production between 430,000 and 490,000 ounces, compared to 465,000 ounces reported for 2023 [5]. Financial Results - The company reported adjusted earnings per share of 11 cents for Q1 2024, reflecting a 120% year-over-year increase, driven by higher gold sales and prices [5]. - Revenues for the first quarter increased by 50% year-over-year to $339 million, with gold sales reaching 150,000 ounces, a 38% increase from 109,000 ounces in Q1 2023 [6]. Gold Market Trends - Gold prices have increased by 17.6% year-to-date, influenced by geopolitical tensions, a depreciating U.S. dollar, potential monetary policy easing, and strong physical demand, particularly from China [8]. - Current gold prices are approximately $2,414.87 per ounce, supported by expectations of interest rate cuts and safe haven demand amid geopolitical uncertainties [8].

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1][2]. Company Overview: Iamgold (IAG) - Iamgold currently holds a Momentum Style Score of A, indicating strong momentum potential [3]. - The company has a Zacks Rank of 1 (Strong Buy), which historically outperforms the market when combined with a Style Score of A or B [4]. Price Performance - IAG shares have increased by 5.12% over the past week, outperforming the Zacks Mining - Gold industry, which rose by 4.65% [6]. - Over the last month, IAG's price change is 29.8%, significantly higher than the industry's 11.74% [6]. - In the last three months, IAG shares have risen by 67.16%, and by 64.73% over the past year, compared to the S&P 500's increases of 7.06% and 28.36%, respectively [7]. Trading Volume - IAG's average 20-day trading volume is 8,547,162 shares, which serves as a bullish indicator when combined with rising stock prices [8]. Earnings Outlook - In the past two months, five earnings estimates for IAG have been revised upwards, with no downward revisions, leading to an increase in the consensus estimate from $0.04 to $0.25 [10]. - For the next fiscal year, three estimates have also moved upwards without any downward revisions [10]. Conclusion - Given the strong momentum indicators and positive earnings outlook, Iamgold is positioned as a promising investment opportunity with a Momentum Score of A and a Zacks Rank of 1 (Strong Buy) [11].

Penny stocks are a horrible investment. Selling for less than $1 per share, penny stocks are cheap for a reason. Many of the companies don't even have a product or service consumers can buy. Instead, they try to lure investors in with a story about how big they can get one day. The appeal of penny stocks is understandable, though. Controlling only a handful of shares can make you a killing if the stock moves higher by just a few pennies. Unfortunately, that rarely happens, and most investors who buy penny s ...

IAG currently has a forward P/E ratio of 18.21, while TFPM has a forward P/E of 34.92. We also note that IAG has a PEG ratio of 0.45. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. TFPM currently has a PEG ratio of 2.29. Another notable valuation metric for IAG is its P/B ratio of 0.95. The P/B is a method of comparing a stock's market value to its book value, which is defined as ...

Have you been paying attention to shares of Iamgold (IAG) ? Shares have been on the move with the stock up 22.4% over the past month. The stock hit a new 52-week high of $4.55 in the previous session. Iamgold has gained 77.1% since the start of the year compared to the 0.8% move for the Zacks Basic Materials sector and the 15.9% return for the Zacks Mining - Gold industry. What's Driving the Outperformance? The stock has a great record of positive earnings surprises, as it hasn't missed our earnings consens ...

Financial Data and Key Metrics Changes - Revenue from continuing operations totaled $338.9 million from sales of 163,000 ounces at a record average realized price of $2,077 per ounce, leading to an adjusted EBITDA of $152.5 million compared to $110.6 million in Q4 2023 and $83 million in Q1 2023 [15][41] - Adjusted earnings per share was $0.11 for the quarter compared to $0.06 in Q4 2023 and $0.05 in Q1 2023 [15] - Cash and cash equivalents at the end of the quarter were $291.2 million, with total liquidity approximating $603.8 million [41] Business Line Data and Key Metrics Changes - Essakane reported first quarter cash costs of $1,002 per ounce and an all-in sustaining cost of $1,312 per ounce, an improvement from the prior quarter due to higher production and sales volume [18] - Westwood produced 32,000 ounces in Q1, with cash costs averaging $1,236 per ounce and all-in sustaining costs averaging $1,836 per ounce, marking a nearly 30% decrease from the previous year [48] - Côté Gold achieved its first gold pour at the end of Q1, with mining activity totaling 7.6 million tons, including 1.9 million tons of ore [22] Market Data and Key Metrics Changes - The realized gold price was significantly high, with the average realized price including the impact of the gold prepay arrangement [15][69] - The company expects cash costs at Côté Gold to be in the range of approximately $700 to $800 per ounce sold as it ramps up production [28] Company Strategy and Development Direction - IAMGOLD aims to become a leading mid-tier and modern gold producer, focusing on ramping up Côté Gold to achieve commercial production in Q3 2024 [8][38] - The company is prioritizing options to return to a 70% interest in Côté Gold, believing the project's value exceeds current market sentiment [10] - IAMGOLD is committed to a zero-harm principle in health and safety, achieving a total recordable injury rate of 0.61, which is below last year's performance [11] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving commercial production at Côté Gold in Q3 2024, with all key equipment operating near nameplate capacity [38] - The company noted emerging risks related to VAT reimbursements in Burkina Faso, which have not been received in recent quarters [13] - Management highlighted the strong performance of Essakane and Westwood, positioning the company well for its annual guidance targets [9] Other Important Information - Project expenditures in Q1 totaled $196.3 million, with total project expenditures for Côté Gold since construction commencement reaching $2.935 billion of the planned $2.965 billion [53] - The company is conducting a drill program targeting the central zone of the Gosselin project, with results expected later in the year [29] Q&A Session Summary Question: How does the decline in grades at Essakane look over the course of the year? - Management indicated that while grades are expected to decline, they remain confident in achieving throughput targets and have made adjustments to improve operations [58] Question: Can you provide insights on the realized gold price? - The realized gold price was noted to be high, with specific figures discussed regarding the impact of prepaid arrangements [69] Question: What is the current status of mill utilization rates at Côté? - Management stated that they are systematically addressing bottlenecks and are confident in achieving their objectives for ramp-up [78] Question: What are the expectations for recovery rates once the gravity circuit is operational? - Current recovery rates are around 81%, with expectations for improvement once the gravity circuit is fully commissioned [91]

Photo by Daniel Berehulak/Getty ImagesGetty ImagesInternational Consolidated Airways (IAG) has made a strong start to the year with robudt travel spending from holidaymakers and business travellers enduring.At 184.9p per share, IAG’s share price rose 1.1% in Friday trading.Revenues at the British Airways owner rose 9.2% in the first quarter, to €6.4 billion, as passenger revenues increased 11.7% to €5.6 billion.Cargo revenues dipped 12.4% year on year, to €283 million.Strong NumbersThe FTSE 100 firm carried ...