Iamgold (IAG) NewsBite - IAG Falls on Lower Gold

Posted: Thursday, November 12, 2009 11:19 AM EDT

Iamgold (NYSE: IAG) opened at $17.74. So far today, the stock has hit a low of $17.23 and a high of $17.76. IAG is now trading at $17.65, down $0.32 (-1.78%). Over the last 52 weeks the stock has ranged from a low of $2.69 to a high of $18.38. IAG shares are being pulled down by lower gold futures. Technical indicators for the stock are bullish and S&P does not currently have a STARS rating for IAG. If you are looking for a hedged play on IAG the stock seems like it could be a candidate for a December out-of-the-money bear-call credit spread above the 20 range. [ABR-Seven Summits Strategic Investments NewsBite]

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