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Iamgold CorpIMG.TODON'T BUYOct 16, 2019Stock price when the opinion was issued
As of Jun 19, 2026. Market Open.
Solid technical pick. Has owned for a while. One of the better names since the spring. Nice little trend, but pretty choppy. Have to stick with it. Resistance around $8.10. Only down $0.11, when gold’s down $30, so it’s held up quite well. Excellent producers. A drop to $7.25 would indicate something’s wrong. If it gets through $8, look for $9. (Analysts’ price target is $9.60.)
The whole gold space has been pretty volatile. Around $7.56 is pretty critical. There may be some pretty big swings up and down as it comes back to its trend line. Thinks gold is going to be a pretty good long-term investment, but a much better price over the next few months. This is one of the stronger names, but is susceptible to some big swings.
He never averages up, only down. Gold has been hit because of the US dollar and interest rates going up. China is limiting the amount of gold that can go into the country and India is eliminating some of their currency. You have these strong currents against it. Trump is positive for gold because you never know what he is going to say or do. Gold is an interesting play at the right price point.