For a rising portfolio

Learn everything you need to know in 'How to Find the Best Growth Stocks' for FREE from The Successful Investor.

Canadian Growth Stocks: CGI Group, CAE Inc., Fortis Inc. Stock and more.

 I consent to receiving information from The Successful Investor via email. I understand I can unsubscribe from these updates at any time.

Topic: Growth Stocks

IAMGold $11.98 – Toronto symbol IMG

IAMGOLD $11.98 (Toronto symbol IMG; TSINetwork Rating: Speculative) (1-888-464- 9999; www.iamgold.com; Shares outstanding: 376.5 million; Market cap: $4.5 billion; Dividend yield: 2.1%) fell 23% after it reported cash flow of $0.30 a share in the three months ended September 30, 2012. That was down sharply from $0.46 a share a year earlier.

Gold prices remained steady, but production fell 7.7%, to 205,000 ounces from 225,000 ounces. IAMGold gets 85% of its production from mines it owns and operates, but output continues to lag at its other mines.

IAMGold’s longer-term prospects are strong—new mines will double its production within five years. It also holds cash of $1.1 billion. However, its short-term growth prospects have slowed.

IAMGold is now a hold.

Comments

Tell Us What YOU Think

You must be logged in to post a comment.

Please be respectful with your comments and help us keep this an area that everyone can enjoy. If you believe a comment is abusive or otherwise violates our Terms of Use, please click here to report it to the administrator.