10 Firms Defy Market Slump, Record Double-Digit Gains Last Week

5. IAMGOLD Corporation (NYSE:IAG)

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.