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IAMGOLD Hits a Fresh 52-Week High: What's Powering the Rally?
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Key Takeaways
IAMGOLD shares surged 220.1% in a year, outpacing the industry's 146.5% rise.
Cote Gold ramp-up drove 9.8% total gold production growth to 190,000 ounces in Q3.
Debt reduction and Quebec acquisitions strengthen IAMGOLD's growth and balance sheet.
IAMGOLD Corporation (IAG - Free Report) shares hit a fresh 52-week high of $18.07 yesterday, before retracing slightly to close the session at $17.8.
IAG has shot up 220.1% over the past year. The company has also outperformed the Zacks Mining-Gold industry’s 146.5% rise over the same time frame. The rally has been driven primarily by higher gold prices, record production at Cote Gold, improved cost efficiency across its West African operations, debt reduction and growing investor optimism.
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Let’s take a look at the factors that are driving IAG stock.
Production Expansion Drives IAG’s Momentum
IAMGOLD’s production and revenue results reflected a mix of strong growth at Cote Gold and operational challenges at Westwood and Essakane. Total attributable gold production rose 9.8% year over year to 190,000 ounces, driven largely by the Cote Gold ramp-up, which delivered 75,000 attributable ounces (106,000 ounces on a 100% basis), up roughly 83% from 41,000 ounces in the third quarter of 2024 as the mine progressed toward design capacity.
By contrast, Westwood’s production declined 28% to 23,000 ounces due to lower grades and transitional mining, while Essakane’s attributable output fell 8% to 92,000 ounces amid grade variability. Despite the uneven asset-level performance, revenues surged 61% year over year to $706.7 million from $438.9 million, supported by higher realized gold prices averaging $3,492 per ounce and increased sales volumes, with the ramp-up at Cote Gold making a significant contribution to the top-line growth.
In 2025, IAMGOLD advanced key projects and strategic initiatives to bolster growth. Cote Gold reached sustained nameplate capacity, improving production and costs with incremental investments like added crushing capacity. The company expanded its Quebec pipeline by acquiring Northern Superior Resources and Mines d’Or Orbec, consolidating multiple deposits into the Nelligan Mining Complex. Ongoing drilling at Nelligan and Monster Lake continues to enhance resource potential, while debt repayment strengthens the balance sheet and financial flexibility as IAMGOLD moves into a higher-production phase.
IAG’s Zacks Rank & Key Picks
IAG currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Basic Materials space are Royal Gold Inc. (RGLD - Free Report) , DPM Metals Inc. (DPMLF - Free Report) and Harmony Gold Mining Company Limited (HMY - Free Report) .
The Zacks Consensus Estimate for RGLD’s current fiscal-year earnings is pinned at $8.04 per share, indicating a 53% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters while missing once, with the average surprise being 4%. Its shares have popped around 82.9% over the past year.
The Zacks Consensus Estimate for DPMLF’s current-year earnings stands at $2.27 per share, indicating a 76% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average earnings surprise being 13%. DPMLF’s shares have rallied roughly 124.1 over the past year.
The Zacks Consensus Estimate for HMY’s current-year earnings is pegged at $2.68 per share, indicating a year-over-year rise of 111%. HMY’s shares have gained 136.2% over the past year.
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IAMGOLD Hits a Fresh 52-Week High: What's Powering the Rally?
Key Takeaways
IAMGOLD Corporation (IAG - Free Report) shares hit a fresh 52-week high of $18.07 yesterday, before retracing slightly to close the session at $17.8.
IAG has shot up 220.1% over the past year. The company has also outperformed the Zacks Mining-Gold industry’s 146.5% rise over the same time frame. The rally has been driven primarily by higher gold prices, record production at Cote Gold, improved cost efficiency across its West African operations, debt reduction and growing investor optimism.
Let’s take a look at the factors that are driving IAG stock.
Production Expansion Drives IAG’s Momentum
IAMGOLD’s production and revenue results reflected a mix of strong growth at Cote Gold and operational challenges at Westwood and Essakane. Total attributable gold production rose 9.8% year over year to 190,000 ounces, driven largely by the Cote Gold ramp-up, which delivered 75,000 attributable ounces (106,000 ounces on a 100% basis), up roughly 83% from 41,000 ounces in the third quarter of 2024 as the mine progressed toward design capacity.
By contrast, Westwood’s production declined 28% to 23,000 ounces due to lower grades and transitional mining, while Essakane’s attributable output fell 8% to 92,000 ounces amid grade variability. Despite the uneven asset-level performance, revenues surged 61% year over year to $706.7 million from $438.9 million, supported by higher realized gold prices averaging $3,492 per ounce and increased sales volumes, with the ramp-up at Cote Gold making a significant contribution to the top-line growth.
In 2025, IAMGOLD advanced key projects and strategic initiatives to bolster growth. Cote Gold reached sustained nameplate capacity, improving production and costs with incremental investments like added crushing capacity. The company expanded its Quebec pipeline by acquiring Northern Superior Resources and Mines d’Or Orbec, consolidating multiple deposits into the Nelligan Mining Complex. Ongoing drilling at Nelligan and Monster Lake continues to enhance resource potential, while debt repayment strengthens the balance sheet and financial flexibility as IAMGOLD moves into a higher-production phase.
IAG’s Zacks Rank & Key Picks
IAG currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Basic Materials space are Royal Gold Inc. (RGLD - Free Report) , DPM Metals Inc. (DPMLF - Free Report) and Harmony Gold Mining Company Limited (HMY - Free Report) .
At present, RGLD and DPMLF sport a Zacks Rank #1 (Strong Buy), while HMY carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for RGLD’s current fiscal-year earnings is pinned at $8.04 per share, indicating a 53% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in three of the trailing four quarters while missing once, with the average surprise being 4%. Its shares have popped around 82.9% over the past year.
The Zacks Consensus Estimate for DPMLF’s current-year earnings stands at $2.27 per share, indicating a 76% year-over-year increase. Its earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, with the average earnings surprise being 13%. DPMLF’s shares have rallied roughly 124.1 over the past year.
The Zacks Consensus Estimate for HMY’s current-year earnings is pegged at $2.68 per share, indicating a year-over-year rise of 111%. HMY’s shares have gained 136.2% over the past year.