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Author Topic: IAG - IAMGold, Inc. - NYSE  (Read 6309 times)
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« Reply #15 on: May 08, 2013, 11:02:11 AM »


Iamgold Profit Plummets After Production, Prices Fall

May 8, 2013

Canadian miner Iamgold Corp reported a 91 percent fall in first-quarter profit due to lower gold production and a decline in price of the precious metal. The company's net earnings attributable to equity holders fell to $10.9 million, or 3 cents per share, from $119.2 million, or 32 cents per share, a year earlier. On an adjusted basis, the company earned 15 cents per basic share. Revenue fell 14 percent to $305.3 million.

Iamgold, which has six operating gold mines in the Americas and Africa, said attributable gold production for the quarter fell 9 percent to 188,000 ounces. Gold price fell 3.5 percent to average $1631.33 per ounce during the first quarter from a year earlier. The company's average realized gold price fell 4 percent to $1,631 per ounce sold.

However, Iamgold backed its 2013 annual gold production forecast of 875,000 to 950,000 ounces. Shares of the company, which has a market value of about $2 billion, closed at C$5.39 on the Toronto Stock Exchange on Tuesday.

http://www.reuters.com/article/2013/05/07/iamgold-results-idUSL3N0DO48K20130507
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« Reply #16 on: August 13, 2013, 11:48:38 AM »


IAMGOLD's Successful Execution Of Cost Reduction Program Leads To Lowering Of Cost Guidance On The Back Of Q2 Results

August 13, 2013

IAMGOLD Corporation today reported its unaudited consolidated financial and operating results for the second quarter ending June 30, 2013 .

• Attributable gold production was 224,000 ounces (including 10,000 pre-commercial ounces from Westwood); attributable sales were 201,000 ounces.
• Total cash costs1 for all gold mines2 were $787 an ounce, below the bottom of the guidance range.
• All-in sustaining costs1 for all gold mines2 were $1,196 an ounce.
• With 55% of cost reduction target achieved and on track to reaching $100 million target by end of 2013, we are lowering:
• Total cash costs1 2013 guidance for all gold mines2 to $790-$840 an ounce from $850-$925 an ounce.
• All-in sustaining costs1 2013 guidance for all gold mines2 to $1,150-$1,250 an ounce from $1,200-$1,300 an ounce.
• Production guidance of 875,000 to 950,000 ounces for all gold mines2 maintained for 2013.
• Westwood ramping up and on track to meeting 130,000-150,000 ounce production target for 2013.
• Adjusted net earnings attributable to equity holders3 were $30.2 million , or $0.08 per share.
• Reported net losses attributable to equity holders were $28.4 million , or $0.08 a share, inclusive of $39.3 million in impairment charges related to marketable securities and equity accounted investments (at market value).
• Net cash from operating activities before changes in working capital3 was $68.3 million , or $0.18 per share.
• Ended the quarter with cash, cash equivalents and gold bullion (at market value) of $607.9 million .
• Maintained semi-annual dividend of $0.125 per common share.

"The rigorous implementation of our cost cutting program, with 55% of our target achieved to date, supports our decision to lower cost guidance to $790-$840 from $850-$925 ," said Steve Letwin, President and CEO. "We are very encouraged by these results and by the diligence with which we've seen employees at our sites working to deliver on this initiative. I'm confident that our cost cutting efforts in the second half of the year will continue to effect sustainable reductions to our cost structure.

"Overall, our operations are performing within expectations," continued Mr. Letwin . "Westwood is ramping up and we are on track to meeting our production guidance. At the same time, we are reviewing our mine plans in light of lower gold prices. Our most important priorities continue to be cost reduction, preservation of liquidity and disciplined capital allocation. Optimizing our existing operations and deferring future expansion and development projects are critical to maintaining strong cash flow."

http://finance.yahoo.com/news/iamgolds-successful-execution-cost-reduction-210700195.html
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« Reply #17 on: May 07, 2014, 12:11:11 PM »


IAMGOLD 1Q Profit Down, Continue To Focus On Cost Cutting
 
May 7, 2014

IAMGOLD Corporation reports net earnings attributable to equity holders for the first quarter came in lower at $3.7 million, or 1 cent per share, a $7.2 million decrease year-on-year. "In the first quarter, we reduced all-in sustaining costs by $92 an ounce from the same quarter last year, building on the sustainable cost savings carried forward from our 2013 program," says Steve Letwin, president and chief executive officer of IAMGOLD. "Cost reduction and efficiency improvements continue to be priorities at all our mine sites, as does safety.” Revenues dipped year-on-year to $279.3 million, $26 million lower than 2013’s first-quarter, largely  due to a lower average realized gold price, which was partially offset by higher gold sales volume. Attributable gold production was also lower at 172,000 ounces in the first quarter 2014, down 16,000 ounces from the same prior year period. Lower grades at Rosebel, stockpiling at Mouska for batch processing and lower production at Yatela due to mining activities suspension in the third quarter of 2013 were the causes for lower production; however, Essakane saw higher production in the quarter, the company says. All-in sustaining costs were lower in the first quarter at $1,038 per ounce sold, down 15% year-on-year.

http://www.kitco.com/news/2014-05-07/KitcoNews-kitco-mining-minutes-May-07-2014.html
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« Reply #18 on: October 06, 2014, 12:56:31 PM »


IAMGOLD Expected To Grow, Upgrade Gold Assets With Niobec Sale

October 06, 2014

IAMGOLD Corp.’s $500 million sale of its Niobec niobium mine, as well as the $30 million sale of an adjacent rare earth elements deposit, to a group of companies led by Magris Resources Inc. will allow the company to focus on growing and upgrading IAMGOLD’s gold assets, CIBC says in a research note.  “This sale unlocks and monetizes the potential value of Niobec, but on the other hand removes a steady cash flow stream,” CIBC says. The bank cautions that despite a gain in liquidity, good projects are hard to come by in this market. “We believe competition for quality, low-cost assets is high, particularly in proven jurisdictions,” they say. CIBC notes that Niobec currently accounts for roughly 15% of IAMGOLD’s operating cash flow and carries a net asset value of $173 million.

http://www.kitco.com/news/2014-10-06/KitcoNews-kitco-mining-minutes-Oct-06-2014.html
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« Reply #19 on: April 29, 2016, 01:50:16 PM »


IAMGOLD Corp Just Reaches 52-Week High

April 29, 2016
 
The stock of IAMGOLD Corp hit a new 52-week high and has $5.29 target or 26.00% above today’s $4.20 share price. The 8 months bullish chart indicates low risk for the $1.79 billion company. The 1-year high was reported on Apr, 29 by Barchart.com. If the $5.29 price target is reached, the company will be worth $465.40M more. The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. The stock is up 5.00% or $0.2 after the news, hitting $4.2 per share. About 2.72M shares traded hands or 14.29% up from the average. IAMGOLD Corp has risen 90.48% since September 23, 2015 and is uptrending. It has outperformed by 83.41% the S&P500.

http://www.franklinindependent.com/iamgold-corp-just-reaches-52-week-high/
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♦♦♦ Give me control of a nations money supply, and I care not who makes it’s laws... Mater Amschel Rothschild ♦♦♦
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