Canada’s IAMGOLD Q1 revenue more than doubles on higher gold prices

Overview

• Canada gold miner's Q1 revenue more than doubled yr/yr, driven by higher gold prices and output

• Adjusted net earnings and adjusted EPS for Q1 rose sharply from prior year

• Company returned $260 mln to shareholders via buybacks and repaid $100 mln in debt

Outlook

• IAMGOLD expects 2026 gold production of 720,000 to 820,000 ounces

• Company sees 2026 cash costs excluding royalties at $1,100 to $1,250 per ounce sold

• IAMGOLD expects 2026 AISC including royalties at $2,000 to $2,150 per ounce sold

Result Drivers

• HIGHER GOLD PRICES - Co said strong revenue and cash flow were driven by significantly higher realized gold prices, which also increased royalty costs

• PRODUCTION GAINS - Westwood and Essakane delivered higher quarterly production yr/yr due to higher grades and improved operating efficiency, per CEO Renaud Adams

• CÔTÉ GOLD DOWNTIME - Throughput at Côté Gold was limited by unplanned conveyor downtime, but performance improved after repairs; costs were elevated due to contractor and maintenance spending

Company press release: ID:nNFCbktbkh

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the gold peer group is "buy"

• Wall Street's median 12-month price target for IAMGOLD Corp is C$36.50, about 64.3% above its May 4 closing price of C$22.22

• The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 9 three months ago

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