Recent Buy – IMG

I decided to add to my position in IAMGold Corp (TSE: IMG). IMG is a mid-tier ($2B market cap) mining company and its interests include six operating gold mines, a niobium mine, a diamond royalty and exploration and development projects located in Africa and the Americas.

Recent Buy Decision

IMG and gold bullion has been under quite a lot of pressure this year and the selloff has been quite severe. Instead of holding gold bullion in my portfolio, I decided to play gold by holding a gold mining company instead, since it yields something positive and also acts as an inflation hedge.

A summary of the stock:

  • Symbol: TSE: IMG (also trades as NYSE: IAG)
  • Quote: $4.72
  • 52-week Range: $4.00 – $16.45
  • P/E: 8.8
  • P/B: 0.48
  • Yield: 5.51%
  • 5-yr DGR: 33.62%
  • Payout: 41.9%
  • Book Value per Share: 9.90
  • Graham Number: 11.75

Disclaimer: The information provided here is for educational purposes only. All opinions here are my personal opinions and should not be taken as financial advice. I am not qualified to be a financial advisor. Always consult with your financial advisor before investing in any of the companies mentioned on this blog.

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