Canada's IAMGOLD Q2 adjusted EBITDA rises on higher gold prices

Iamgold

06/08/2026 22:21

Overview
Canada gold miner's Q2 revenue rose 48% yr/yr to $856.9 mln
Q2 adjusted EBITDA was $507.3 mln, up 84% yr/yr
Company repurchased $148 mln in shares during the quarter

Outlook
IAMGOLD sees 2026 gold production at 720,000-820,000 oz
Company expects consolidated cash costs, excluding royalties, in upper half of $1,100-$1,250/oz range
Sustaining capital expenditures for 2026 forecast at $380 mln; expansion capital at $120 mln

Result Drivers
CÔTÉ GOLD OPERATIONS - Conveyor belt replacement and commissioning of second cone crusher enabled near full capacity in June, with expected production increases and lower unit costs in H2, per CEO Renaud Adams
COST IMPROVEMENTS - Discontinuation of external contractor crushing and operational upgrades led to lower processing costs in June and are expected to further reduce costs in H2
HIGHER PRODUCTION COSTS - Increased diesel and electricity prices, contractor costs for conveyor repairs, and higher mine maintenance drove up production costs and cost of sales yr/yr

Company press release: ID:nNFC95f2zJ

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Adjusted EBITDA
 
$507.30 mln
 

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$31.07, about 39.1% above its August 5 closing price of C$22.34
The stock recently traded at 7 times the next 12-month earnings vs. a P/E of 7 three months ago

Reuters Recommended Reads
Aug 6 - Canada's Fortuna Mining Q2 adjusted income rise  on higher gold prices
Aug 5 - Canada's Equinox Gold Q2 revenue slightly misses estimates
Aug 6 - Canada's Artemis Gold Q2 revenue rises

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)