IAMGOLD Corp stock declines amid market gains
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 18 2024
0mins
Should l Buy IAG?
Source: Coinmarketcap
IAMGOLD Corp's stock fell by 5.02% as it crossed below its 5-day SMA, indicating a significant downward movement.
The decline occurred despite the broader market's positive performance, with the Nasdaq-100 and S&P 500 both showing gains. This suggests a sector rotation, where IAMGOLD's performance diverges from the overall market trend.
Investors may want to monitor IAMGOLD closely, as the stock's movement could indicate underlying issues within the company or sector that are not reflected in the broader market.
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Analyst Views on IAG
Wall Street analysts forecast IAG stock price to rise
7 Analyst Rating
6 Buy
1 Hold
0 Sell
Strong Buy
Current: 16.830
Low
15.00
Averages
17.83
High
21.00
Current: 16.830
Low
15.00
Averages
17.83
High
21.00
About IAG
IAMGOLD Corporation is a Canada-based intermediate gold producer and developer. The Company operates mines in North America and West Africa, including Cote Gold (Canada), Westwood (Canada) and Essakane (Burkina Faso). The Essakane Gold Mine, located in northeastern Burkina Faso. The Westwood Gold Complex, located in Quebec, Canada, includes the Westwood underground mine and the Grand Duc open pit, collectively known as the Westwood Complex. The Cote Gold Mine, located in northeastern Ontario, is an open-pit gold mining operation. It owns a 100% interest in the Nelligan Gold Project, located 60Km southwest of Chibougamau. The Company holds the Muus Project, which covers approximately 25,250 hectares in the northeastern part of the Abitibi Greenstone Belt. The Company holds a 100% interest in the Monster Lake Gold Project, which is located north of Nelligan in the Chapais Chibougamau area in Quebec. The Company also holds Philibert, Chevrier and Croteau projects.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Airlines' Response Strategies: While IAG and Ryanair are better hedged, analysts warn that even the best-hedged airlines can only partially shield themselves from soaring fuel prices, which is expected to disrupt summer travel plans.
- Market Supply and Demand Tightening: The International Energy Agency has warned that Europe could run out of jet fuel within six weeks, leading many airlines to cut capacity, particularly on short-haul flights, exacerbating market uncertainty.
- Operational Challenges Intensifying: Due to the volatile situation in the Middle East, airlines face challenges with rerouting, which increases fuel burn and complicates crew scheduling, further squeezing profit margins for low-cost carriers.
See More
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- Energy Stocks Surge: Following President Trump's speech, oil prices surged over 7%, leading to a 4.3% increase in APA shares, while Diamondback Energy, ConocoPhillips, Devon Energy, Exxon Mobil, and Chevron saw about 3% gains, indicating market optimism regarding energy demand.
- Cruise Stocks Decline: Major cruise operators like Carnival, Royal Caribbean, and Norwegian Cruise Line fell about 4% as Trump's speech failed to provide a clear path to end the Iran war, heightening concerns over demand.
- Airlines Under Pressure: Rising oil prices caused airline stocks to tumble, with Delta Air Lines, United Airlines, Southwest Airlines, and Alaska Air all dropping about 4%, reflecting the negative impact of high oil prices on airline profitability.
- Gold Miners Slide: After Trump's speech, gold prices fell 1%, leading to declines of about 5% for Newmont and Kinross Gold, and nearly 6% for Iamgold, indicating a weakening demand for safe-haven assets.
See More
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Market Opening: U.S. stock markets are set to open in two hours.
Aura Minerals Inc. Performance: Aura Minerals Inc. (AUGO) saw a 9.6% increase in pre-market trading.
Cipher Digital Inc. Performance: Cipher Digital Inc. (CIFR) experienced an 8.5% rise in pre-market trading.
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See More
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- Analyst Ranking Insights: IAG's low ranking in the Metals Channel Global Mining Titans Index, based on averaged opinions from major brokerages, does not necessarily indicate poor stock performance, as investors might see potential for upside.
- Market Performance Comparison: Currently, IAG is trading down approximately 7.1%, while peers like Newmont Corp (NEM) and Barrick Mining Corp (B) are down about 7.6% and 5.8%, respectively, indicating IAG's relative weakness in the market.
- Investor Interpretation: The low analyst ranking could be viewed as a contrarian investment opportunity; despite the bearish sentiment, it may suggest significant upside potential, attracting bullish investors' interest.
- Price History Trends: A three-month price history chart for IAG reveals its underperformance, prompting investors to monitor future market dynamics and shifts in analyst opinions to make more informed investment decisions.
See More
Airline Stocks Vulnerable to Oil Price Fluctuations; Delta, United, and American See Gains.
- Airline Stocks Performance: Airline stocks have significantly declined since the onset of the Iran war but are beginning to show signs of recovery.
- Dependency on Oil Prices: Despite the recovery, airline shares remain highly sensitive to fluctuations in oil prices.
See More
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- Surging Gold Prices: In 2026, gold prices have risen by 18%, currently nearing $5,140 per ounce, driven by geopolitical tensions, which are expected to continue supporting industry growth and attracting investors seeking safe-haven assets.
- Strong Investment Demand: In 2025, total gold demand reached 5,002 tons, with investment demand hitting 2,175 tons, driving ETF investments up by 801 tons, indicating strong market interest and potential for future growth.
- Cost Management Strategies: Due to labor shortages and rising production costs, industry players are focusing on alternative energy sources and digital innovations to lower unit net cash costs, thereby enhancing operational efficiency and ensuring profit margins.
- Structural Supply Constraints: With declining output from aging mines and limited new discoveries, the industry faces long-term price support, and an anticipated demand-supply imbalance is likely to further drive gold prices upward.
See More
