The gold market is boiling: 4 gold stock options riding on the high

Gold prices were up over 26% in 2024, with both spot gold and U.S. gold futures reaching record highs in recent months, driven by strong investor interest amidst economic uncertainty and inflation worries. This exceptional performance continued through most of the year. For example, U.S. gold futures climbed to $2,619.00 per ounce following November's inflation data, which showed a 2.7% year-over-year increase in the U.S. Consumer Price Index , aligning with market expectations.

The company recently announced a 9.7% repurchase of the Côté Gold Mine, which was part of a transfer deal to Sumitomo Metal Mining Co in December 2022. However, the repurchase now provides Iamgold with a 70% stake in Côté Gold and will help provide additional production delivery for the fourth quarter. ) is back on track with stock prices rising over 130% since the turn of the year. Despite wider price swings, current stock performance is roughly 1.73% below its former peak.

In the third quarter, the company largely benefited from increased margins, which rose by 14% compared to the second quarter. Not only this, but the overall 6% increase in the realized gold price had allowed the company to grow its free cash flow more sustainably, rising 20% over the period compared to the previous quarter. , the company delivered 144,200 gold equivalent ounces, with a total delivery of 448,400 for the first nine months of the year.

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