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

Iamgold

05/05/2026 22:41

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

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Adjusted EBITDA
$666 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$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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(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.)