Iamgold CorpIAG

Morningstar Rating

Stock Research and Analysis

by Morningstar Equity Analysts

Since it was incorporated in 1991 as the International African Mining Gold Corporation, IAMGold has grown from a fledgling exploratory company to a major midtier gold producer through a series of acquisitions. The company owns an eclectic portfolio Read more

Bulls Say

IAMGold has a robust cash hoard on its balance sheet, which gives it plenty of ammunition to use in pursuing growth projects and acquisitions.

IAMGold is one of the top three global producers of niobium, a rare earth metal used mainly to strengthen steel alloys.

All gold companies, including IAMGold, tend to be countercyclical. They also provide a good hedge to inflation risk. Read more

Bears Say

IAMGold has a mediocre cost profile, with unit cash costs right around the average for gold miners.

IAMGold produces gold in several high-risk jurisdictions such as Suriname and Burkina Faso.

For most investors, a better option than a gold stock is a gold mutual fund or exchange-traded fund, which provide exposure to inflation risk while reducing company-specific risk. Read more

Management

Steve Letwin was appointed as CEO in November 2010 after former CEO Joseph Conway left the firm in January 2010. Before coming to IAMGold, Letwin worked at Enbridge ENB. We like that the firm has separated the CEO and chairman positions. IAMGold has Read more

Profile

IAMGold is a midtier gold-mining company based in Toronto. The company operates three gold mines in Canada, Suriname, and Burkina Faso and owns two more gold mines in Mali Read more