Strong Q2 results are largely gold-price-driven. Monitor sustainability of gold prices and cost trends at Ct Gold (AISC up 29% YoY). Key near-term catalyst: Q4 2026 Ct Gold mine plan update with expanded reserves. The aggressive share buyback ($510M since inception) signals management confidence but also reduces float.
Price Chart
Executive Summary
IAMGOLD reported a strong Q2 2026 with revenue of $856.9M (up 48% YoY), net earnings attributable to equity holders of $230.5M ($0.40 EPS), and operating cash flow of $445.1M, all driven by a record average realized gold price of $4,384/oz and higher production of 188,100 attributable ounces. The company is on track for full-year production guidance of 720,000–820,000 oz, repurchased $147.9M in shares, and expanded its credit facility to $850M. The results are overwhelmingly positive, though cost inflation at Ct Gold and elevated royalties at Essakane remain headwinds.
Key Facts
- Q2 2026 revenue $856.9M vs $580.9M YoY (+48%)
- Net earnings attributable to equity holders $230.5M vs $78.7M YoY (+193%)
- EPS $0.40 vs $0.14 YoY
- Attributable gold production 188,100 oz vs 173,000 oz YoY (+9%)
- Average realized gold price $4,384/oz vs $3,182/oz YoY (+38%)
- Operating cash flow $445.1M vs $85.8M YoY (+419%)
- AISC per ounce sold $2,271 vs $2,041 YoY (+11%)
- Repurchased 8.6M shares for $147.9M in Q2
- Credit facility increased to $850M, fully undrawn; total liquidity $1.35B
- Ct Gold M&I resources increased 12% to 20.3M oz
Financial Impact
Revenue up 48% to $856.9M, net earnings up 193% to $230.5M, operating cash flow up 419% to $445.1M, driven by higher gold prices and production.
Risk Factors
- Gold price volatility — current realized price well above guidance assumption of $4,000/oz
- Cost inflation at Ct Gold (mining costs +22%, milling costs +23% YoY) may persist
- Security and political risks in Burkina Faso impacting Essakane operations and cash repatriation
- Increased royalty burden at Essakane (12% rate in Q2 vs 9% prior year) due to higher gold prices and new decree
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001628280-26-054453 |
| Document: q22026financialstatements.htm | 0001628280-26-054453 |
| Document: q220266k.htm | 0001628280-26-054453 |
| Document: q22026-cfocertificationofi.htm | 0001628280-26-054453 |
| Document: q22026-ceocertificationofi.htm | 0001628280-26-054453 |
| Document: 0001628280-26-054453-index-headers.html | 0001628280-26-054453 |
| Document: 0001628280-26-054453-index.html | 0001628280-26-054453 |
| Document: 0001628280-26-054453.txt | 0001628280-26-054453 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | 6-K | $16.50 | awaiting T+1 | — | $16.51 (+0.09%) |
Oct 21, 2026 5d ago | 6-K | $16.42 $16.26 | ▼ −0.97% | ▼ −0.45% | $16.51 (+0.58%) |
Oct 5, 2026 21d ago | 6-K | $18.55 $18.03 | ▼ −2.80% | ▼ −2.56% | $16.51 (−10.97%) |
Aug 11, 2026 10w ago | 6-K | $18.16 $18.07 | ▼ −0.50% | ▼ −0.75% | $16.51 (−9.06%) |
Aug 6, 2026 11w ago | 6-K | $18.32 $18.43 | ▲ +0.60% | ▲ +0.63% | $16.51 (−9.85%) |
Jul 13, 2026 15w ago | 6-K | $14.99 $14.99 | · 0.00% | ▼ −0.40% | $16.51 (+10.17%) |
Jun 17, 2026 18w ago | 6-K | $16.88 $16.91 | ▲ +0.18% | ▲ +0.49% | $16.51 (−2.16%) |
Jun 11, 2026 19w ago | Institutional Cluster | $16.14 $16.65 | ▲ +3.16% | ▲ +2.62% | $16.51 (+2.32%) |
Jun 1, 2026 21w ago | 6-K | $17.37 $17.49 | ▲ +0.69% | ▲ +0.55% | $16.51 (−4.92%) |
May 5, 2026 24w ago | 6-K | $18.50 $18.50 | · 0.00% | ▲ +0.33% | $16.51 (−10.73%) |
US Market Status
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