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Monday, July 25, 2016 11:38:19 AM
IAG Charts Credit Suisse upgrades IAMGOLD, Yamana Gold amid improved metal outlook
• IAMGOLD (IAG -0.6%) is upgraded to Neutral from Sell with a $52.25 price target, raised from $3, at Credit Suisse, which raises its forecast for 2016-17 gold prices.
• Credit Suisse now forecasts the gold price to rise through the rest of this year, averaging $1,475/oz. in Q4 2016 and $1,500/oz. in Q1 2017, with an average of $1,450/oz. in 2017 from $1,313/oz. previously.
• On IAG, the firm believes the company is turning the corner on operational and financial delivery following a challenging three-year period, and cites IAG's above-average leverage to gold prices and benefit from cost exposure to the Canadian dollar and euro.
Iamgold Corp (USA) ( IAG has exactly what investors should be looking for.
For starters, IAG already has some pretty healthy gold production across its four mines in Canada, Mali, Suriname and Burkina Faso. Those four mines should kick out between 770,000 and 800,000 ounces of gold this year. And while its all-sustaining cash costs are a bit on the high side - at $1000 per ounce - those mines are profitable in the current price environment.
Secondly, IAG holds plenty of reserves in the ground. Its Côté Gold Project promises to be a huge source of future production for the firm.
Likewise, the gold miner has kept its exploration budget intact and has made has made three major greenfield discoveries over the last three years.
Both of these facts make it a great gold miner on its own. But they also make IAG a perfect target for a larger mining stock looking to beef up its presence. And with Iamgold spending much of the downturn reducing its debt burden and bolstering its balance sheet, that buy-out could come in the latest upswing in gold prices.
All in all, IAG is one of the best junior gold miners to buy today.
Note 1: Please alert the board of any stock crossing the 20,50,20dma’s on daily or weekly chart.
(link back for more charts)
Just replace the ticker with your TICKER
http://stockcharts.com/h-sc/ui?s=IAG&p=D&yr=0&mn=3&dy=0&id=p11960084343
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• IAMGOLD (IAG -0.6%) is upgraded to Neutral from Sell with a $52.25 price target, raised from $3, at Credit Suisse, which raises its forecast for 2016-17 gold prices.
• Credit Suisse now forecasts the gold price to rise through the rest of this year, averaging $1,475/oz. in Q4 2016 and $1,500/oz. in Q1 2017, with an average of $1,450/oz. in 2017 from $1,313/oz. previously.
• On IAG, the firm believes the company is turning the corner on operational and financial delivery following a challenging three-year period, and cites IAG's above-average leverage to gold prices and benefit from cost exposure to the Canadian dollar and euro.
Iamgold Corp (USA) ( IAG has exactly what investors should be looking for.
For starters, IAG already has some pretty healthy gold production across its four mines in Canada, Mali, Suriname and Burkina Faso. Those four mines should kick out between 770,000 and 800,000 ounces of gold this year. And while its all-sustaining cash costs are a bit on the high side - at $1000 per ounce - those mines are profitable in the current price environment.
Secondly, IAG holds plenty of reserves in the ground. Its Côté Gold Project promises to be a huge source of future production for the firm.
Likewise, the gold miner has kept its exploration budget intact and has made has made three major greenfield discoveries over the last three years.
Both of these facts make it a great gold miner on its own. But they also make IAG a perfect target for a larger mining stock looking to beef up its presence. And with Iamgold spending much of the downturn reducing its debt burden and bolstering its balance sheet, that buy-out could come in the latest upswing in gold prices.
All in all, IAG is one of the best junior gold miners to buy today.
Note 1: Please alert the board of any stock crossing the 20,50,20dma’s on daily or weekly chart.
(link back for more charts)
Just replace the ticker with your TICKER
http://stockcharts.com/h-sc/ui?s=IAG&p=D&yr=0&mn=3&dy=0&id=p11960084343
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
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