Of the 13 analysts covering IAMGOLD (IAG), six have issued “buy” ratings, while five have issued “hold” ratings, and two have issued “sell” ratings on the stock.
IAMGOLD (IAG) has a strong cash flow and balance sheet position. At the end of 1Q17, it had a cash balance of $679 million.
Westwood’s production almost doubled to 30,000 ounces in 1Q17, as compared to 1Q16.
Essakane produced 93,000 ounces of gold in 1Q17, which represents a YoY rise of 6%, mainly due to a 27% increase in throughput.
Rosebel’s attributable production for 1Q17 was 74,000 ounces, which represents a 9% rise YoY.
IAMGOLD (IAG) produced 214,000 ounces of gold in 1Q17, which represents a rise of 12% YoY (year-over-year) and quarter-over-quarter.
IAG’s 1Q17 adjusted EPS (earnings per share) of $0.01 beat the market’s expectation of -$0.01.
May has generally not been a positive month for equity investors (IWM) (RUT-INDEX). This phenomenon is infamously known as “sell in May and go away.”
Teck Resources isn’t the only miner working to repair its balance sheet. Almost every company in the metals and mining space is making efforts to cut its debt levels.
Freeport-McMoRan’s (FCX) 2017 price action has largely disappointed the markets. The stock fell 2.5% last week, taking its year-to-date (or YTD) losses to 12.7%.
During its 4Q15 earnings call, Freeport-McMoRan (FCX) announced that the company planned to generate $5 billion–$10 billion to shore up its balance sheet.
After dismal manufacturing PMI (purchasing managers’ index) data, lower Chinese copper imports dented copper market sentiments last week.
Copper has been a relative underperformer in 2017 among the broader industrial metals space (XME). Copper’s slide continued last week.
On May 8, 2017, Huntsman’s (HUN) spinoff division Venator announced a price increase for its titanium dioxide pigments.
On May 9, 2017, Celanese (CE) announced a price increase for acetic acid of $50 per metric ton. In China, the price rose 350 renminbi per metric ton.
On May 10, 2017, 3M (MMM) announced the sale of its tolling and automated license/number plate recognition business to Neology, a subsidiary of Smartrac.
On May 9, 2017, Chemours (CC) announced that it’s offering $500.0 million in senior notes due in 2027. The notes are priced at 99.051% of the principal amount.
Crude oil prices regained strength last week amid a decline in crude oil inventory levels and expectations of an extension of the supply cut agreement.
After breaking the losing streak and regaining strength last week, the US dollar is weaker in the early hours on Monday.
The Direxion Daily Gold Miners (NUGT) and the ProShares Ultra Silver (AGQ), both leveraged mining funds, both have recovered and jumped 19.4% and 24.9%, respectively, on a five-day trailing basis.