I would imagine that very few people love to engage obvious trades. One of the most obvious investment categories right now is gold. With tensions in the Middle East escalating due to Israel’s strike on Iran — and concerns that the U.S. could be dragged into the conflict — the gold market has witnessed noticeable inflows. As such, the mining sector has been a beneficiary. Still, Iamgold (IAG) could be an intriguing prospect despite having already gained significantly.
Like many other mining plays, IAG stock has been a top performer so far this year. Since the January opener, IAG has gained nearly 41% of equity value. Over the past 52 weeks, the security has almost doubled in value. At the same time, Iamgold incurred a bit of a corrective spell this week. Against Monday’s opening volley, IAG is down roughly 4%. This could be a modest discount.
