10 Firms Defy Market’s Bullish Momentum

2. IAMGOLD Corp. (NYSE:IAG)

IAMGOLD Corp. (IAG) dropped by 3.96 percent at $5.34 on Wednesday after earning downgraded ratings from investment research firms, discounting news of higher mining production in 2024.

On Wednesday, StockNews lowered its rating for the company to “hold” from “buy” previously, while research analysts at Raymond James slashed their price projection for the company to $6 from $6.5 apiece and gave the company an “underperform” rating.

Investors on Wednesday discounted news from the company that it achieved a 43-percent growth in mining production at 667,000 in 2024, thanks to strong production at its Essakane mine in Burkina Faso and the Westwood and Côté Gold mine in Canada.

Essakane was the top producer, contributing 409,000 attributable ounces. While head grades decreased slightly in the latter half of the year, planned waste stripping positioned the mine for stable 2025 production of 360,000–400,000 ounces.