IAMGOLD Corp stock declines amid broader market weakness
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 3d ago
0mins
Should l Buy IAG?
Source: Benzinga
IAMGOLD Corp's stock fell by 5.04% as it crossed below its 5-day SMA, reflecting a challenging trading environment. The broader market is experiencing weakness, with the Nasdaq-100 down 1.34% and the S&P 500 down 0.76%, contributing to the stock's decline. This downturn may indicate sector rotation as investors shift focus to more resilient assets amidst the overall market decline.
Trade with 70% Backtested Accuracy
Stop guessing "Should I Buy IAG?" and start using high-conviction signals backed by rigorous historical data.
Sign up today to access powerful investing tools and make smarter, data-driven decisions.
Analyst Views on IAG
Wall Street analysts forecast IAG stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for IAG is 17.83 USD with a low forecast of 15.00 USD and a high forecast of 21.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
7 Analyst Rating
6 Buy
1 Hold
0 Sell
Strong Buy
Current: 17.980
Low
15.00
Averages
17.83
High
21.00
Current: 17.980
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.
Spot Silver Continues Decline, Currently Down 6% at $67 per Ounce
- Market Performance: Silver prices have experienced a decline, dropping 6% to $67 per ounce.
- Trend Analysis: The recent downturn in silver prices indicates a potential shift in market dynamics.
See More
Gold Prices Soar to New Heights, Exceeding $5,300 an Ounce Before FOMC Meeting
Market Surge: Spot gold prices have surged above $5,300, setting new records in the market.
FOMC Meeting Anticipation: The increase in gold prices comes ahead of the upcoming Federal Open Market Committee (FOMC) meeting.
See More
Global Gold Production Approaches Stability Amid Low Discoveries
- Gold Production Data: Global gold production reached 3,645 tonnes in 2024, nearing historic stability levels, although new discoveries remain at multi-decade lows, indicating a growing focus on producers.
- Profitability Surge: With gold prices testing $4,900 and average all-in sustaining costs at $1,600 per ounce, profits in the mining sector surged 91% over the past twelve months, setting the stage for a re-rating in 2026.
- Lake Victoria Gold Progress: Lake Victoria Gold completed critical geotechnical studies at its Imwelo Project in Tanzania, supporting the consolidation of multiple isolated pits into a single continuous open pit, optimizing mine design and advancing production planning.
- Kinross Gold Expansion Plans: Kinross Gold announced the advancement of three organic growth projects expected to contribute 300,000 ounces of gold production annually between 2029 and 2031, further extending the mine life of its Nevada assets.
See More
Spot Silver Reaches All-Time High of $115.13/Oz, Surging More Than 11%
Record High for Silver Prices: Silver prices have reached a record high of $115.13 per ounce, marking a significant increase.
Percentage Increase: The price of silver has risen over 11% recently, contributing to its record-setting value.
See More
Hecla Mining (HL) Leads with 29.31% Weekly Gain Amid Precious Metals Surge
- Metal Stocks Surge: Hecla Mining Company gained 29.31% this week, reflecting a broader rally in precious metals amid geopolitical tensions and a weakening US dollar, indicating heightened investor expectations for a Fed rate cut.
- Silver Stocks Shine: First Majestic Silver Corp. increased by 26.57% this week, showcasing sustained investor interest in precious metals, which could further drive the company's performance in the upcoming quarters.
- Favorable Arbitration Outcome: Venture Global, Inc. jumped 21.6% this week after the ICC denied Repsol's claims and ordered it to pay VGCP's fees, enhancing the company's financial stability and outlook.
- Successful Trial Results: Moderna, Inc. rose 17.44% this week following positive cancer trial data, demonstrating the potential of its mRNA vaccine for melanoma treatment, which may solidify the company's market position moving forward.
See More
Spot silver briefly surpassed $100 per ounce before retreating to $99.93.
- Silver Price Movement: Silver prices rose above $100 per ounce during intraday trading.
- Price Adjustment: Following the peak, prices slightly decreased to $99.93 per ounce.
See More
Spot Silver Continues Decline, Currently Down 6% at $67 per Ounce
- Market Performance: Silver prices have experienced a decline, dropping 6% to $67 per ounce.
- Trend Analysis: The recent downturn in silver prices indicates a potential shift in market dynamics.
See More
Gold Prices Soar to New Heights, Exceeding $5,300 an Ounce Before FOMC Meeting
Market Surge: Spot gold prices have surged above $5,300, setting new records in the market.
FOMC Meeting Anticipation: The increase in gold prices comes ahead of the upcoming Federal Open Market Committee (FOMC) meeting.
See More
Global Gold Production Approaches Stability Amid Low Discoveries
- Gold Production Data: Global gold production reached 3,645 tonnes in 2024, nearing historic stability levels, although new discoveries remain at multi-decade lows, indicating a growing focus on producers.
- Profitability Surge: With gold prices testing $4,900 and average all-in sustaining costs at $1,600 per ounce, profits in the mining sector surged 91% over the past twelve months, setting the stage for a re-rating in 2026.
- Lake Victoria Gold Progress: Lake Victoria Gold completed critical geotechnical studies at its Imwelo Project in Tanzania, supporting the consolidation of multiple isolated pits into a single continuous open pit, optimizing mine design and advancing production planning.
- Kinross Gold Expansion Plans: Kinross Gold announced the advancement of three organic growth projects expected to contribute 300,000 ounces of gold production annually between 2029 and 2031, further extending the mine life of its Nevada assets.
See More
Spot Silver Reaches All-Time High of $115.13/Oz, Surging More Than 11%
Record High for Silver Prices: Silver prices have reached a record high of $115.13 per ounce, marking a significant increase.
Percentage Increase: The price of silver has risen over 11% recently, contributing to its record-setting value.
See More
Hecla Mining (HL) Leads with 29.31% Weekly Gain Amid Precious Metals Surge
- Metal Stocks Surge: Hecla Mining Company gained 29.31% this week, reflecting a broader rally in precious metals amid geopolitical tensions and a weakening US dollar, indicating heightened investor expectations for a Fed rate cut.
- Silver Stocks Shine: First Majestic Silver Corp. increased by 26.57% this week, showcasing sustained investor interest in precious metals, which could further drive the company's performance in the upcoming quarters.
- Favorable Arbitration Outcome: Venture Global, Inc. jumped 21.6% this week after the ICC denied Repsol's claims and ordered it to pay VGCP's fees, enhancing the company's financial stability and outlook.
- Successful Trial Results: Moderna, Inc. rose 17.44% this week following positive cancer trial data, demonstrating the potential of its mRNA vaccine for melanoma treatment, which may solidify the company's market position moving forward.
See More
Spot silver briefly surpassed $100 per ounce before retreating to $99.93.
- Silver Price Movement: Silver prices rose above $100 per ounce during intraday trading.
- Price Adjustment: Following the peak, prices slightly decreased to $99.93 per ounce.
See More
