16:56:52 EDT Fri 26 Apr 2024
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Stock Pickers says buy Iamgold

2014-07-10 18:00 ET - In the News

Stock Pickers Digest, in the July, 2014, issue, says buy Iamgold Corp., recently $4.39. It said buy six times from July, 1998, to February, 2002, at prices ranging from $2.90 to $4.75. It said sell half in June, 2002, at $7.25. Assuming a $1,000 investment for each of the six buys, selling half at $7.25 would have yielded a profit of $3,033. Stock Pickers said buy again in December, 2002, at $5.64. It said sell in June, 2003, at $7.50. Assuming a $1,000 investment for the most recent buy, and taking into account the remaining $3,000 investment left from the previous half sale, selling the $4,000 position at $7.50 would have yielded a profit of $3,575. Stock Pickers said buy 15 more times from February, 2004, to January, 2014, at prices ranging from $3.55 to $19.76. A $1,000 investment for each of the 15 buys is now worth $7,524. Iamgold has reached a deal to earn 51 per cent of Calibre Mining's Easter Borosi gold-silver project in Nicaragua, by paying $450,000 (U.S.) and spending $5-million (U.S.) on development over three years. It can then earn another 19 per cent by paying $450,000 (U.S.) and contributing $5-million (U.S.) more to development. Iamgold earned $12.2-million (U.S.) in the first quarter of 2014. Buy.

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