We recently published a list of 10 Firms Defy Market Slump, Record Double-Digit Gains Last Week. In this article, we are going to take a look at where IAMGOLD Corporation (NYSE:IAG) stands against other firms that defied the market slump and recorded double-digit gains last week.
The stock market may have taken a beating for most of the week, but it was able to recover losses on Friday, as investors gobbled up shares while weighing the impact of the US-China trade war.
Among all major indices, the tech-heavy Nasdaq registered the highest gain, up 7.29 percent, followed by the S&P 500 with 5.7 percent, and the Dow Jones by 4.95 percent.
Ten companies, predominantly in the gold and biopharmaceutical sectors, were the week’s top performers as investors sought haven from their stocks amid market uncertainties.
In this article, we have identified last week’s 10 highest gainers and detailed the reasons behind their gains.
To come up with the list, we considered only the stocks with a $2 billion market capitalization and $5 million trading volume.
The week-on-week prices were based on the companies’ closing prices on Friday as against on April 4, or a week earlier.
Aerial view of the Rosebel gold mine in Suriname with its open pits spanning across the landscape.
IAMGOLD Corp. surged by 28.2 percent this week to close at $7.22 each on Friday versus the $5.63 last week, as the company continued to benefit from the rally in gold prices.
During a generally pessimistic trading week, IAG defied the market slump, rallying for five consecutive days, as investor funds continued to flock to gold miners to mitigate risks from the escalating trade war between the US and China.
Additionally, investors appeared to have snapped up shares in the company ahead of its first-quarter earnings release on May 6.
IAG is a leading gold producer with assets across Canada and West Africa. The company fully owns the Westwood project in Quebec, holds a 60 percent stake in the Côté Gold project in Ontario, and controls 90 percent of Essakane in Burkina Faso.
For this year, it targets gold production to hit between 735,000 and 820,000 ounces, focusing on maximizing Côté Gold’s potential.
Overall, IAG ranks 5th on our list of firms that defied the market slump and recorded double-digit gains last week. While we acknowledge the potential of IAG as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is as promising as IAG but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock.
