HI Friends,
I added another junior gold mining stock to my portfolio - IAMGOLD, ticker IAG:
I liked the entry point here. I think gold is headed to $3,000 within the next few years, which is essentially a double from the current price. The miner stocks are riskier, so a double on gold could mean a 3x+ on the miners. This particular company is located in Canada (also trades on the TRX), and seems like a bargain at 1x sales, though their profit margins are low at the moment - higher gold prices will fix that in a hurry.
We shall see. I jumped in for 350 shares (~$1,000), so not a large buy, but I also have other similar stocks in the portfolio so it is a slight risk spreader and more fun than buying another ETF or mutual fund.
Still having a hard time finding things to invest in, but I think this one will "pan out"...
Thanks for coming by,
Brian
