May 7, 2019 / 12:57 PM / 2 months ago

BUZZ-Iamgold Corp: 2019 guidance at risk due to technical issues at Westwood - BMO

** U.S.-listed shares of Canadian gold miner fall 6.9 pct to $2.71 premarket

** Co says Q1 net loss attributable to equity holders was 9 cents/shr vs profit of 9 cents, a year earlier

** Revenue falls ~20 pct to $251 million, misses estimates of $269.1 mln - Refinitiv

** Attributable gold production fell to 185,000 ounces from 229,000 ounces while average realized gold price was $1308/ounce vs $1331/ounce a year earlier

** BMO cuts to “market perform” from “outperform”, lowers put to $3.5 from $5; while Canaccord Genuity cuts Toronto-listed stock to “hold” from “buy”, lowers PT to C$3.75 from C$7

** “We believe that technical issues at Westwood will persist, placing 2019 guidance at risk” - BMO

** Gold production of 15,000 ounces at the Westwood mine in Q1 fell 63% from the year-ago period, as the company was assessing the mine to address increased seismic activity in Q4 that impacted production

** U.S.-listed stock down ~21 pct YTD (Reporting by Debroop Roy in Bengaluru)

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