00:51:19 EDT Fri 26 Apr 2024
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Stock Pickers says buy Iamgold

2016-05-24 22:38 ET - In the News

Stock Pickers Digest, in the May, 2016, issue, says buy Iamgold Corp., recently $3.72. 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. Alas, Stock Pickers said buy 18 more times from February, 2004, to November, 2015, at prices ranging from $2.51 to $19.76. A $1,000 investment for each of the 18 buys is now worth $9,980. Iamgold's revenue was $238.2-million (U.S.) in the quarter ended Dec. 31, 2015, down from $272.5-million (U.S.) a year earlier. Cash flow per share plunged to two U.S. cents from 25 U.S. cents. The long-term outlook remains positive, says Stock Pickers. Iamgold holds $691.3-million in cash and bullion, and could use that to make acquisitions, pay down its $628.1-million (U.S.) debt or pursue other options. Buy.

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