Topic: Growth Stocks

IAMGOLD $3.55 – Toronto symbol IMG

IAMGOLD $3.55 (Toronto symbol IMG; TSINetwork Rating: Speculative) (1-888-464-9999; www.iamgold.com; Shares outstanding: 376.6 million; Market cap: $1.4 billion; No dividends paid) is suspending its dividend payments to conserve cash while it waits for gold prices to rebound. The move follows similar cuts by other gold miners.

Gold has dropped over 30%, from its high near $1,800 U.S. an ounce in September 2012 to $1,232 today.

IAMGold is still a buy for exposure to a rebound in gold prices.

Comments

Tell Us What YOU Think

You must be logged in to post a comment.

Please be respectful with your comments and help us keep this an area that everyone can enjoy. If you believe a comment is abusive or otherwise violates our Terms of Use, please click here to report it to the administrator.