Watch Q2 production and cost trends, especially at Côté Gold where costs remain elevated. Continued share buybacks and expected additional Essakane dividends in June provide downside support.
Price Chart
Executive Summary
IAMGOLD reported a stellar Q1 2026 with revenue doubling to $1.03B (+116% YoY) driven by a 78% jump in the average realized gold price to $4,859/oz and higher sales volumes. Net earnings surged to $379.7M ($0.65 EPS) vs $39.7M ($0.07) last year, operating cash flow hit $569.9M, and the company repurchased $260M in shares while reducing debt. The strong performance and credit rating upgrades (Moody's B1, Fitch B+ Positive) underscore a material inflection in financial health, though historical stock response to such results has been muted.
Key Facts
- Q1 2026 revenue of $1,030.1M, up 116% from $477.1M in Q1 2025
- Attributable gold production of 183,600 oz, up 14% YoY
- Net earnings attributable to equity holders of $379.7M ($0.65 EPS), vs $39.7M ($0.07)
- Operating cash flow of $569.9M, up from $74.3M
- Repurchased 12.9M shares for $260M in Q1; total 18M shares for $350M since program inception
- Moody's upgraded credit rating from B2 to B1 with stable outlook; Fitch affirmed B+ with positive outlook
- Available liquidity of $1,096.9M as of March 31, 2026
- 2026 production guidance maintained at 720,000-820,000 oz
Financial Impact
Revenue increase of $553M YoY; net earnings increase of $340M YoY
Risk Factors
- Burkina Faso security and regulatory risks (new mining code, potential further resource nationalism)
- Elevated all-in sustaining costs at Côté Gold ($2,109/oz vs guidance midpoint $1,850)
- Gold price volatility; royalties eat into margins at higher prices
- Historical poor stock performance post-earnings despite strong results
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001628280-26-030747 |
| Document: q12026financialstatements.htm | 0001628280-26-030747 |
| Document: q120266k.htm | 0001628280-26-030747 |
| Document: q22025-cfocertificationofi.htm | 0001628280-26-030747 |
| Document: q22025-ceocertificationofi.htm | 0001628280-26-030747 |
| Document: 0001628280-26-030747-index-headers.html | 0001628280-26-030747 |
| Document: 0001628280-26-030747-index.html | 0001628280-26-030747 |
| Document: 0001628280-26-030747.txt | 0001628280-26-030747 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 today | 6-K | $16.50 | awaiting T+1 | — | $17.08 (+3.48%) |
Oct 21, 2026 5d ago | 6-K | $16.42 $16.26 | ▼ −0.97% | ▼ −0.45% | $17.08 (+3.99%) |
Oct 5, 2026 21d ago | 6-K | $18.55 $18.03 | ▼ −2.80% | ▼ −2.56% | $17.08 (−7.95%) |
Aug 11, 2026 11w ago | 6-K | $18.16 $18.07 | ▼ −0.50% | ▼ −0.75% | $17.08 (−5.97%) |
Aug 6, 2026 11w ago | 6-K | $18.32 $18.43 | ▲ +0.60% | ▲ +0.63% | $17.08 (−6.80%) |
Jul 13, 2026 15w ago | 6-K | $14.99 $14.99 | · 0.00% | ▼ −0.40% | $17.08 (+13.91%) |
Jun 17, 2026 18w ago | 6-K | $16.88 $16.91 | ▲ +0.18% | ▲ +0.49% | $17.08 (+1.16%) |
Jun 11, 2026 19w ago | Institutional Cluster | $16.14 $16.65 | ▲ +3.16% | ▲ +2.62% | $17.08 (+5.79%) |
Jun 1, 2026 21w ago | 6-K | $17.37 $17.49 | ▲ +0.69% | ▲ +0.55% | $17.08 (−1.70%) |
May 5, 2026 24w ago | 6-K | $18.50 $18.50 | · 0.00% | ▲ +0.33% | $17.08 (−7.70%) |
US Market Status
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