IAMGOLD $2.51 (Toronto symbol IMG; TSINetwork Rating: Speculative) (1-888-464-9999; www.iamgold.com; Shares outstanding: 391.4 million; Market cap: $1.0 billion; No dividends paid) owns 41% of the Sadiola mine and 40% of the Yatela mine, both located in Mali; 90% of the Essakane gold mine in Burkina Faso; 100% of the Doyon mine in Quebec; and 95% of the Rosebel mine in Suriname, South America.
In the three months ended June 30, 2015, IAMGold’s revenue fell 2.1%, to $226.5 million from $231.4 million a year earlier. Cash flow per share dropped to $0.12 from $0.19. Lower gold prices were the main reason for the declines.
The company’s long-term production outlook is positive. Meantime, its $836.4-million U.S. of cash and gold put it in a strong position to pay down its long-term debt of $636.0 million U.S. It could also expand its existing gold projects, pay dividends, buy back shares or make timely acquisitions from distressed sellers at low prices.
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