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.
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Second Quarter Financial Results to be Released on August 10
July 25th, 2016
FIRST MAJESTIC SILVER CORP. (AG: NYSE; FR: TSX) (the “Company” or “First Majestic”) is pleased to announce that its second quarter 2016 unaudited financial results will be released on Wednesday, August 10, 2016.
Participants should dial in 10 minutes prior to the conference.
Click on WEBCAST on the First Majestic homepage as a simultaneous audio webcast of the conference call will be posted at www.firstmajestic.com.
The conference call will be recorded and you can listen to an archive of the conference by calling:
Canada & USA Toll Free: 1-800-319-6413 Outside Canada & USA: 1-604-638-9010 Access Code: 0646 followed by the # sign
The replay will be available approximately one hour after the conference and will available for 7 days following the conference. The replay will also be available on the Company’s website for one month.
First Majestic is a mining company focused on silver production in México and is aggressively pursuing the development of its existing mineral property assets and the pursuit through acquisition of additional mineral assets which contribute to the Company achieving its corporate growth objectives.
FOR FURTHER INFORMATION contact info@firstmajestic.com, visit our website at www.firstmajestic.com or call our toll free number 1.866.529.2807.