Latest news with #CoteGold
Yahoo
04-07-2025
- Business
- Yahoo
Jefferies Raise Franco-Nevada (FNV) PT, Keeps Hold Rating
Franco-Nevada Corporation (NYSE:FNV) is one of the 10 Best Gold Stocks To Buy Right Now. On May 28, Jefferies analyst Christopher LaFemina raised the price target on Franco-Nevada Corporation (NYSE:FNV) to $171 from $169 and kept a 'Hold' rating. This adjustment came after a detailed review of Franco-Nevada Corporation's (NYSE:FNV) recent $1 billion acquisition of the Cote Gold royalty and other factors that could affect the company's financial model. An aerial view of a large gold mine showing the extensive activity of natural resource extraction. The analyst pointed out that investors responded positively to the Cote Gold acquisition because of its large size. Deals of this size are rare in the royalty or streaming business. Additionally, the deal is generating cash flow and there is potential for exploration and throughput increases in the future. However, the feedback for investors did bring about some concerns about the cost of this deal. LaFemina's analysis of net present value (NPV) and internal rate of return (IRR) suggests that Franco-Nevada Corporation (NYSE:FNV) may have paid too much for this deal. Franco-Nevada Corporation (NYSE:FNV) is a leading gold-focused royalty and streaming company that is based in Canada. While we acknowledge the potential of FNV as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 11 Stocks That Will Bounce Back According To Analysts and 11 Best Stocks Under $15 to Buy According to Hedge Funds. Disclosure: None.
CTV News
30-06-2025
- Business
- CTV News
Northern Ontario gold mine reaches major milestones
IAMGOLD process plant at Cote Gold Mine in Gogama. IAMGOLD is the majority owner of Côté Gold, which is on track to become one of the largest gold mines in Canada.(Supplied) Côté Gold Mine, located on Highway 144 between Timmins and Greater Sudbury, reached a major milestone this month, producing at a peak capacity of 36,000 tonnes a day on average for 30 straight days. The milestone, known as 'nameplate throughput,' took place at the mine's processing plant June 21. Cote Gold Mine on map Cote Gold Mine on map (This is Mining) 'I would like to congratulate our Côté Gold teams, who demonstrated remarkable determination and commitment to bring Côté Gold online and advance it to nameplate throughput rate within 15 months,' Renaud Adams, president & CEO of IAMGOLD, said in a news release. IAMGOLD is the majority owner of Côté Gold, which is on track to become one of the largest gold mines in Canada. 'To bring a gold project from first gold to the design nameplate rate within this timeframe, while ensuring a safe workplace for all, exemplifies the commitment to excellence and accountability that is at the core of IAMGOLD today.' Aims for 400,000 ounces a year Adams said the mine reached 90 per cent capacity in March, and 96 per cent for 30 days in April. 'The achievement confirms our confidence in the Côté Gold production guidance of 360,000 to 400,000 ounces on a 100 per cent basis, with costs expected to decline through the year,' he said. 'Further, we are excited at the opportunities the installation of the second cone crusher will bring, including improving plant availability and maintenance cycles, while providing potential for further throughput increases.' Cote Gold Mine sign Cote Gold Mine sign (This is Mining) In addition to the production milestone, IAMGOLD said it has delivered 150,000 ounces of gold to pay off a loan, a process known as a gold prepay arrangement. The arrangement was made to help fund the construction of Côté Gold and the repayment allows the company to save a considerable amount in interest payments. 'Today marks a significant cash flow inflection point for IAMGOLD as we successfully conclude our gold prepay arrangements,' Adams said in a June 23 news release. Equivalent to $200M-$250M 'In the first half of this year, the Company delivered the remaining 75,000 ounces of gold under the arrangements of which only a portion had some exposure to the gold price. This is equivalent to approximately $200 to $225 million of cashflow that the company would have received … if the gold prepay arrangements were not in place.' Combined with the mine reaching full capacity, Adams said Côté Gold expects improved operating results for the second half of the year. 'With the current favourable gold price environment, the company is well-positioned to generate stronger free cash flows and commence a disciplined deleveraging strategy,' he said. IAMGOLD is an intermediate gold producer and developer based in Canada with operating mines in North America and West Africa, including Côté Gold, Westwood (Canada) and Essakane (Burkina Faso). On March 31, 2024, the company commenced production at Côté Gold, in partnership with Sumitomo Metal Mining Co. Ltd., a mine that has the potential to be among the largest gold mines in Canada.
Yahoo
25-06-2025
- Business
- Yahoo
Why Iamgold Rallied Today
Geopolitical turmoil often leads to higher gold prices. The U.S. bombing of Iranian nuclear facilities over the weekend has led to a bid for gold stocks today. Iamgold also issued a press release detailing a faster-than-expected production ramp at its new mine. 10 stocks we like better than Iamgold › Shares of gold miner Iamgold (NYSE: IAG) rallied as much as 8.4% on Monday, before settling into a 5.7% gain as of 2:16 p.m. ET. Not only were gold prices up slightly on top of an extremely strong first-half performance today on geopolitical news, but Iamgold also made a positive company-specific announcement regarding its new Cote Gold mine in Canada, which started operations 15 months ago. Gold is often thought of as the classic store of value in case war or severe supply shocks shake the world -- although Bitcoin (CRYPTO: BTC) is emerging as a potential alternative as "digital gold." Still, gold still seems to have its luster -- as this year's Trump administration tariffs have threatened to escalate into full-on trade wars, gold has had a fantastic run, up just over 30% year to date. This past weekend's U.S. bombing of Iran's nuclear facilities has certainly increased geopolitical risks and escalation, which led to gold appreciating mildly today, up about 0.41% as of this writing on top of an already-strong year. Specifically for Iamgold, the company also put out a press release disclosing that its Cote Gold mine's processing plant had reached nameplate capacity of 36,000 tons per day just 15 months after the commencement of operations. CEO Renaud Adams said in the release: To bring a gold project from first gold to the design nameplate rate within this time frame, while ensuring a safe workplace for all, exemplifies the commitment to excellence and accountability that is at the core of Iamgold today... The achievement confirms our confidence in the Côté Gold production guidance of 360,000 to 400,000 ounces on a 100% basis, with costs expected to decline through the year. Today, Iamgold trades at a mere 5 times trailing earnings, which looks astoundingly cheap. However, investors should keep in mind that miners such as Iamgold have lots of fixed costs, and therefore generate huge profits when the end price of whatever commodity they sell goes up. At the same time, if gold prices were to fall, Iamgold and others would see profits fall by an even greater percentage. Last quarter's all-in sustaining costs for Iamgold's Cote mine were $1,643 per ounce, while the price of gold has appreciated from $2,633 to $3,340 this year. Therefore, gold miners are more like leveraged bets on gold prices, offering more upside but also more downside than owning the commodity outright. That makes gold miners potentially better for portfolio-hedging purposes than owning gold. And when one sees strong execution, as Iamgold displayed today, that's an added bonus. Before you buy stock in Iamgold, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Iamgold wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $664,089!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $881,731!* Now, it's worth noting Stock Advisor's total average return is 994% — a market-crushing outperformance compared to 172% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of June 23, 2025 Billy Duberstein and/or his clients have positions in Bitcoin. The Motley Fool has positions in and recommends Bitcoin. The Motley Fool has a disclosure policy. Why Iamgold Rallied Today was originally published by The Motley Fool
Yahoo
24-06-2025
- Business
- Yahoo
BofA Reiterates a Buy Rating on IAMGOLD Corporation (IAG) With a $9.25 PT
IAMGOLD Corporation (NYSE:IAG) is one of the 11 Cheap Gold Stocks to Buy According to Hedge Funds. Bank of America Securities analyst Lawson Winder reiterated a Buy rating on IAMGOLD Corporation (NYSE:IAG) on June 15 and set a price target of $9.25. The company's positive fiscal Q1 2025 results support the rating, as its attributable production for the quarter totaled 161,000 ounces from its three mines. Management anticipates that the first quarter will be the lightest production quarter of the year, primarily due to maintenance activities and ramp-up taking place at Côté. It also expects a rise in the grade profile at Essakane. Aerial view of the Rosebel gold mine in Suriname with its open pits spanning across the landscape. IAMGOLD Corporation (NYSE:IAG) reported that while production at Westwood dropped compared to the previous quarter, it is expected to recover its track record of solid perforation with continuing improvements in mine flexibility with stope development. Management is optimistic in its production guidance estimates of 735,000 to 820,000 ounces for the year. Based in Canada, IAMGOLD Corporation (NYSE:IAG) is an intermediate gold developer and producer that operates gold mining properties in West Africa and North America. Its projects include Essakane, Westwood, and Cote Gold. While we acknowledge the potential of IAG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: The Best and Worst Dow Stocks for the Next 12 Months and 10 Unstoppable Stocks That Could Double Your Money. Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
