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Outlook: IAMGOLD’s Stock Momentum after Q2 2018 Results

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Nov. 20 2020, Updated 11:29 a.m. ET

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 ETF (GLD). Although it hasn’t performed as well in 2018, it has given positive returns, outperforming the SPDR Gold Shares ETF (GLD) and the VanEck Vectors Gold Miners ETF (GDX) year-to-date.

For more on IAG’s outlook, investors can also read Market Realist’s IAMGOLD Stock Soars on 1Q18 Earnings Beat-More Upside Ahead?

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In the first quarter, 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 second-quarter results. The company is slated to release its second-quarter results on August 8 after the market closes. It plans to hold a conference call with analysts on August 9.

Guidance for 2018

IAG is guiding for gold production of 850,000–900,000 ounces for 2018. Its AISC (all-in sustaining costs) figure is expected to be $990–$1,070 per ounce. Its exploration targets 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 final part of this series for a close look at these gold mining companies’ valuations—and what they could mean in 2018 and beyond.

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