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IAMGOLD Corp. Message Board

  • thatrob55 thatrob55 Feb 24, 2013 6:21 AM Flag

    CEO Stephen Letwin buys 130,000 shares of IAMGOLD

    February 22nd filings show that CEO Stephen Letwin made an insider purchase of 130k shares over the past few days. CFO Banducci bought as well. Five other insiders also bought IAMGOLD shares late this past week.

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    • I don't need to see the filing. I have no doubt that the top management officials and the insiders are buying IAG shares with both hands. Why? Who wouldn't? The market cap is roughly $2.77B and the firm is raking in about $95M every quarter or more than $1M a day! Sundays too. Do the math yourself. With gold up over $1500 an ounce yet still, the profits IAG are so outstanding at this valuation that IAG shares represent a layup for an easy double from here and most likely an open shot for a triple and possibly a quadruple EVEN IF the Cote mine never makes a dime! If I were IAG CEO? I would take the $48M from the next dividend, cancel the dividend until gold goes up over 1800 and spend $50M on derivatives that short the gold production for the next two years at today's prices so that even if the price of gold falls IAG will still make money like it did in 2012 which is coining currency like it was going out of style. How can IAG lose? Gold must go down and the firm must remain unhedged. So, get fully hedged. Forget about the lousy dividend. I want a $30 share price!

    • and where did you find this info? thanks

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