IAG’s stock performance
IAMGOLD (IAG) was the best-performing gold stock of 2017, returning 51.4% for the year. It significantly outperformed the VanEck Vectors Gold Miners ETF (GDX) as well as the SPDR Gold Shares (GLD). In 2018, however, the equation has somewhat reversed. Its stock has returned -4.5% year-to-date as of April 17.
For more on IAG’s outlook, investors can also read Market Realist’s Can IAMGOLD Keep Up Its Stock Performance after 4Q17 Earnings?
In 1Q18, IAG announced mineral resource estimates for its Monster Lake project and Eastern Borosi project. The company should provide updates on these projects and others along with its 1Q18 results. The company is slated to release its 1Q18 results on April 8 after the market closes. It plans to hold a conference call with analysts on April 9.
Guidance for 2018
The company is guiding for gold production of 850,000–900,000 ounces for 2018. Its AISC (all-in sustaining costs) figure is expected to be between $990 and $1,070 per ounce. Its exploration continues to target additional resources at Essakane, Saramacca, Boto, Siribaya, Nelligan, Monster Lake, and Eastern Borosi.
IAG could provide an update on these projects during its detailed results release. Among IAG’s peers (RING)(GDXJ), Yamana Gold (AUY), Eldorado Gold (EGO), Coeur Mining (CDE), and Kinross Gold (KGC) are also trying to expand their production levels through organic growth opportunities.
Continue to the next and final part of this series for a close look at these gold mining companies’ valuations—and what they could mean in 2018 and beyond.