IAMGOLD Corporation
- Open
- 14.90
- Day high
- 14.98
- Day low
- 14.23
- Prev close
- 14.66
- Volume
- 4.2M
- Mkt cap
- $8.5B
- P/E (TTM)
- 8.5
- EPS (TTM)
- $1.74
- P/B
- 2.0
- P/S
- 2.5
- Yield
- —
- Per share
- —
IAMGOLD Corporation (IAG) is a Basic Materials company listed on NYSE. The stock is up 113% over the past year. Drillr has 1 published research article covering IAG.
IAMGOLD Corporation (IAG) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 3 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
IAG earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $0.52 | $0.66 | +26.9% | $1.0B | +5.6% |
| Feb 17, 2026 | $0.55 | $0.70 | +27.3% | $1.1B | +5.7% |
| Aug 7, 2025 | $0.14 | $0.13 | -7.1% | $581M | -20.4% |
| Feb 20, 2025 | $0.13 | $0.10 | -23.1% | $470M | -1.8% |
| Nov 8, 2024 | $0.10 | $0.18 | +80.0% | $439M | -0.0% |
| Aug 8, 2024 | $0.09 | $0.16 | +77.8% | $391M | +5.7% |
| May 9, 2024 | $0.03 | $0.11 | +330.4% | $337M | +26.3% |
| Feb 15, 2024 | $0.02 | $0.06 | +170.0% | $306M | +4.0% |
| Nov 9, 2023 | $-0.01 | $-0.01 | -23.2% | $225M | -4.0% |
| Aug 10, 2023 | $-0.01 | $-0.01 | -14.0% | $239M | +1.5% |
| May 11, 2023 | $0.02 | $0.05 | +193.3% | $226M | +2.6% |
| Feb 16, 2023 | $-0.00 | $-0.02 | -1900.0% | $118M | -60.2% |
IAG insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Feb 27, 2026 | SMITH DAVID STEWARTdirector | Sell | 15,000 | $32.90 |
| Feb 27, 2026 | SMITH DAVID STEWARTdirector | Sell | 6,000 | $32.91 |
| Feb 27, 2026 | SMITH DAVID STEWARTdirector | Sell | 5,000 | $32.79 |
Source: IAG SEC Form 4 filings, latest Feb 27, 2026. For informational purposes only — not investment advice.
See the full IAG insider & 13F page →IAMGOLD Corporation company profile
Overview
IAMGOLD Corporation (NYSE:IAG) is a Canadian gold mining company incorporated in 1990 and headquartered in Toronto. The company has evolved from a small explorer into a mid-tier gold producer with operations spanning three continents. IAMGOLD owns and operates gold mines in North America, South America, and West Africa, with its flagship Côté Gold project in Ontario representing a significant transformation for the company. The company went public in 2003 and has built its portfolio through strategic acquisitions, developments, and partnerships over more than three decades in the mining industry.
Business
IAMGOLD operates in the gold mining industry, which involves the extraction, processing, and sale of gold from ore deposits. Gold mining is a capital-intensive business that requires significant upfront investment in exploration, mine development, and processing facilities. The industry is characterized by long development timelines, regulatory complexity, and exposure to commodity price volatility. The company's operations are divided into three main producing assets: 1. **Côté Gold Mine (Ontario, Canada)** - IAMGOLD's flagship operation represents approximately 70% ownership in partnership with Sumitomo. This is a large-scale open-pit mine that achieved commercial production in August 2024. The mine utilizes autonomous haul trucks and modern processing technology, targeting annual production of 360,000-400,000 ounces. This asset represents the company's strategic pivot toward high-grade, low-cost North American production. 2. **Essakane Mine (Burkina Faso, West Africa)** - A wholly-owned open-pit operation that has been IAMGOLD's primary cash generator, producing approximately 360,000-400,000 attributable ounces annually. The mine processes lower-grade ore but benefits from established infrastructure and experienced operations team. However, it faces ongoing security challenges due to regional instability. 3. **Westwood Mine (Quebec, Canada)** - An underground operation targeting 125,000-140,000 ounces annually. This mine focuses on higher-grade underground deposits and has undergone significant operational improvements and rehabilitation in recent years. The company also maintains a portfolio of exploration and development projects, including the Nelligan and Monster Lake projects in Quebec, which collectively contain nearly 9 million ounces of resources and represent potential future production growth.
Revenue model
IAMGOLD generates revenue primarily through the sale of refined gold to precious metals dealers, banks, and industrial users. The company's business model is straightforward: extract gold-bearing ore from the ground, process it through crushing, grinding, and chemical extraction to produce gold doré bars, then sell the refined gold at prevailing market prices. The company's profitability is directly tied to several key factors. Gold prices represent the primary revenue driver, with IAMGOLD realizing average prices of $2,330-$2,391 per ounce in recent quarters. Production costs, including labor, energy, consumables, and equipment, determine profit margins. The company reports cash costs of approximately $1,459 per ounce and all-in sustaining costs of $1,908 per ounce across its portfolio. Several factors influence IAMGOLD's margins and profitability. Rising labor costs, which comprise about 35% of the cost structure, directly impact margins, with the company expecting 3-3.5% annual labor inflation. Energy costs, particularly diesel fuel and electricity, significantly affect operating expenses, especially at remote locations like Essakane. Equipment maintenance and replacement costs can be substantial, particularly for large-scale operations like Côté Gold with its autonomous fleet. Geopolitical risks also affect profitability, particularly at Essakane where security challenges in Burkina Faso require additional protective measures and contingency planning. Currency fluctuations impact costs and revenues, as operations span multiple jurisdictions with different currencies. Finally, ore grade variability affects production efficiency and costs, with higher-grade ore generally providing better margins despite potentially higher extraction costs.
Competitive moat
IAMGOLD's competitive moat is relatively limited compared to industry leaders, though the company has some defensive characteristics. The company's primary moat comes from its asset quality, particularly the Côté Gold deposit, which represents one of the largest undeveloped gold resources in Canada with 7.6 million ounces of reserves. This asset provides a long-term, low-cost production base that should generate strong cash flows over its projected mine life. The company benefits from geographic diversification across stable mining jurisdictions, particularly its Canadian assets which operate under predictable regulatory frameworks. IAMGOLD's operational expertise in managing complex mining operations, including autonomous mining technology at Côté Gold, provides some competitive advantage in execution and cost management. However, IAMGOLD faces significant competitive pressures. The company operates in a commoditized industry where gold prices are set by global markets, leaving little room for pricing power. Larger competitors like Barrick Gold and Newmont have superior scale, lower costs, and stronger balance sheets, allowing them to outbid IAMGOLD for premium assets and weather commodity downturns more effectively. The company's exposure to higher-risk jurisdictions, particularly Burkina Faso, creates operational vulnerabilities that competitors with more stable asset bases don't face. IAMGOLD's relatively high debt levels and smaller scale limit its financial flexibility compared to industry leaders. The company's moat is further challenged by the capital-intensive nature of mining, where maintaining competitiveness requires continuous investment in exploration, development, and equipment replacement. Overall, IAMGOLD operates in a competitive industry with limited sustainable competitive advantages, though its quality assets and operational expertise provide some defensive characteristics.
Risks & safety
IAMGOLD presents a moderate margin of safety with improving financial metrics but lingering concerns about debt levels and operational execution. **Debt and Solvency:** - Net debt of $882.3 million as of Q1 2025, down from higher levels during Côté Gold construction - Debt-to-equity ratio of 0.34, manageable but elevated for a mining company - Strong liquidity position with $316.6 million cash and total liquidity of approximately $767 million - Positive free cash flow generation capability, though still in early stages of Côté Gold ramp-up **Valuation Metrics:** - Trading at 6.0x EV/EBITDA, reasonable for a mining company with growth assets - P/E ratio of 22.5x appears elevated but reflects transition period during Côté Gold ramp-up - Price-to-book ratio of 1.05x suggests reasonable valuation relative to asset base - Current ratio of 1.41x indicates adequate short-term liquidity **Other Considerations:** - Côté Gold ramp-up execution risk remains, though early operational performance is encouraging - Exposure to Burkina Faso security risks creates operational uncertainty - Gold price sensitivity provides both upside opportunity and downside risk - Management's focus on debt reduction before shareholder returns demonstrates financial discipline
Recent development
IAMGOLD has undergone significant strategic transformation over the past few years, centered on the development and successful startup of the Côté Gold project. The company completed construction of this flagship asset in 2024, achieving commercial production in August and representing a major shift toward large-scale, low-cost North American production. The company executed several strategic transactions to fund this transformation, including the sale of its Rosebel mine to Zijin Mining for $360 million in 2022, generating over $900 million in total liquidity. IAMGOLD also completed equity financing of $300.2 million and successfully repurchased Sumitomo's interest to achieve 70% ownership of Côté Gold. Operationally, the company has focused on optimizing its existing assets while developing Côté Gold. At Westwood, IAMGOLD completed significant underground rehabilitation and operational improvements, increasing mineral reserves by 109% to 1.2 million ounces. The mine has shown substantial improvement in production and efficiency. At Essakane, despite security challenges in Burkina Faso, the company has maintained strong operational performance while exploring mine life extension opportunities. The operation continues to serve as a reliable cash generator while management evaluates long-term strategic options. Looking forward, IAMGOLD is pursuing organic growth opportunities in the Chibougamau mining camp in Quebec, where the company controls the Nelligan and Monster Lake projects containing nearly 9 million ounces of resources. The company aims to build a large resource base potentially exceeding 15 million ounces through continued drilling and development. The company has also prioritized balance sheet improvement, focusing on debt reduction before considering shareholder returns, with potential dividend or buyback programs being considered for mid-2026 once financial targets are achieved.
IAG company profile · for informational purposes only — not investment advice.
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