For those looking to find strong Basic Materials stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Iamgold (IAG) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.Iamgold is one of 234 companies in the Basic Materials group. The Basic Materials group currently sits at #14 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Z ...

IAMGOLD Corporation (IAG) has completed the sale of its 100% stake in the Karita Gold Project and related exploration assets in Guinea. This transaction fulfills a part of an agreement inked with Managem two years ago, under which IAG had committed to sell interests in its exploration and development projects in Senegal, Guinea and Mali. Per the deal, IAMGOLD would receive cash payments totaling $282 million.Progress on the IAMGOLD & Managem Deal So FarIAMGOLD had announced the deal with Managem on Dec. 20, ...

Group 1 - IAMGOLD Corporation has successfully closed the sale of its 100% interest in the Karita Gold Project and associated exploration assets in Guinea [3][4] - The sale of the Guinea Assets is part of a larger transaction involving the sale of interests in exploration and development projects in Senegal, Guinea, and Mali for approximately $282 million (pre-tax) [1][3] - The company previously announced the closing of the sale of its interests in Senegal, including a 90% interest in the Boto Gold Project, on April 26, 2023 [1][3] Group 2 - IAMGOLD is an intermediate gold producer and developer based in Canada, with operating mines in North America and West Africa [4] - The company has commenced production at the Côté Gold Mine, which is expected to be one of the largest gold mines in Canada [4] - IAMGOLD employs approximately 3,600 people and is committed to high standards of Environmental, Social, and Governance practices [4]

IAMGOLD Announces Amended and Upsized Credit FacilityDecember 23, 2024 7:00 AM EST | Source: IAMGOLD CorporationAll monetary amounts are expressed in U.S. dollars, unless otherwise indicated.Toronto, Ontario--(Newsfile Corp. - December 23, 2024) - IAMGOLD Corporation (TSX: IMG) (NYSE: IAG) ("IAMGOLD" or the "Company") is pleased to announce that the Company and its syndicate of lenders have executed an amendment to its existing secured revolving credit facility (the "Facility"). Under the amen ...

IAMGOLD Provides Westwood Updated Mine Plan and Mineral Resource & Mineral Reserve EstimatesDecember 05, 2024 7:00 AM EST | Source: IAMGOLD CorporationAll monetary amounts are expressed in U.S. dollars, unless otherwise indicated.Toronto, Ontario--(Newsfile Corp. - December 5, 2024) - IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) ("IAMGOLD" or the "Company") is pleased to provide updated Mineral Resource and Mineral Reserve ("MRMR") estimates and an accompanying updated life of mine ("LOM") plan ...

IAMGOLD Announces Return to 70% Ownership in Côté Gold with Repurchase of 9.7% InterestDecember 02, 2024 7:00 AM EST | Source: IAMGOLD CorporationAll monetary amounts are expressed in U.S. dollars, unless otherwise indicated.Toronto, Ontario--(Newsfile Corp. - December 2, 2024) - IAMGOLD Corporation (TSX: IMG) (NYSE: IAG) ("IAMGOLD" or the "Company") is pleased to announce that effective November 30, 2024, it has exercised the right to repurchase the 9.7% interest of the Côté Gold Mine ("Côté ...

Core Viewpoint - International Airlines Group (IAG), the owner of British Airways, has signed a ten-year agreement with Infinium to purchase sustainable aviation fuel (e-SAF), starting in late 2026, to enhance its sustainability efforts [1][2]. Group 1: Agreement Details - The agreement allows Infinium to supply e-SAF to IAG's five airlines: Aer Lingus, British Airways, Iberia, LEVEL, and Vueling [2]. - e-SAF is produced from water, waste CO2, and renewable energy, and is expected to reduce life-cycle greenhouse gas emissions by approximately 90% compared to conventional jet fuel [2][3]. - Infinium's Project Roadrunner facility in West Texas will produce the e-SAF, which is designed to be a "drop-in" replacement for conventional aviation fuel without requiring changes to existing aircraft engines [3][5]. Group 2: IAG's Sustainability Goals - In 2023, IAG utilized approximately 12% of the world's supply of sustainable aviation fuel (SAF) and aims for 10% of its flights to use SAF by 2030 [6][8]. - The recent agreement secures more than one-third of the SAF needed for IAG to meet its 2030 target [8]. - IAG previously signed a 14-year agreement with Twelve to supply 260 million gallons (nearly 1 billion liters or 785,000 tons) of e-SAF, marking it as the first European airline group to confirm such a deal [7]. Group 3: Industry Context and Challenges - The limited number of e-SAF projects in Europe has prompted IAG and its competitors to seek partnerships beyond the continent to achieve low carbon emissions targets [8]. - IAG's Group Sustainability Officer emphasized the need for policy support to attract funding for SAF plant construction and reduce reliance on fossil fuels [9]. - IAG has committed to achieving net zero emissions by 2050, acknowledging the significant challenges in decarbonization [10].

After reaching an important support level, Iamgold (IAG) could be a good stock pick from a technical perspective. IAG surpassed resistance at the 50-day moving average, suggesting a short-term bullish trend.One of the three major moving averages, the 50-day simple moving average is commonly used by traders and analysts to determine support or resistance levels for different types of securities. However, the 50-day is considered to be more important since it's the first marker of an up or down trend.Over the ...

Production and Sales Performance - Attributable gold production was 173,000 ounces in Q3 2024 and 490,000 ounces year-to-date, driven by strong performance at Essakane and Westwood, as well as Côté Gold's second quarter of production [4]. - Total gold production for Q3 2024 was 173,000 oz, a 59% increase from 109,000 oz in Q3 2023 [9]. - Total gold sales for Q3 2024 reached 171,000 oz, up from 106,000 oz in Q3 2023, representing a 61.3% increase [9]. - Attributable gold production in Q3 2024 was 100,000 ounces, a 19% increase compared to the same period last year [49]. - Gold production decreased by 15% year-over-year, totaling 120,000 ounces in Q3 2024, primarily due to operational challenges at the Westwood mine [150]. Financial Performance - Revenues for Q3 2024 were $438.9 million from sales of 184,000 ounces at an average realized gold price of $2,391 per ounce, and $1,163.1 million year-to-date from sales of 514,000 ounces at an average realized gold price of $2,260 per ounce [4]. - Revenues for Q3 2024 were $438.9 million, compared to $224.5 million in Q3 2023, marking a 95.5% year-over-year growth [10]. - Net earnings attributable to equity holders for Q3 2024 were $594.1 million, a substantial rise from a loss of $0.8 million in Q3 2023 [10]. - Year-to-date revenues for 2024 reached $1,163.1 million, a 69% increase compared to the prior year, with sales of 514,000 ounces at an average realized gold price of $2,260 per ounce [88]. - IAMGOLD Corporation reported a net loss of $12 million for Q3 2024, compared to a net income of $5 million in Q3 2023, reflecting a significant decline in profitability [150]. Cost and Expenditures - Cash costs per ounce sold for Q3 2024 were $1,223, a decrease of $149 or 11% compared to Q3 2023, driven by higher production and sales volumes [50]. - AISC per ounce sold in Q3 2024 was $1,730, down $68 or 4% from the previous year, mainly due to higher sustaining capital expenditures [50]. - Capital expenditures for sustaining operations in Q3 2024 were $84.7 million, compared to $50.4 million in Q3 2023 [10]. - Total capital expenditures guidance for 2024 is approximately $175 million, with ongoing capitalized waste stripping and equipment replacement [51]. - The company has initiated a cost reduction program aimed at saving $30 million annually, focusing on operational efficiencies and reducing overhead [150]. Cash Flow and Liquidity - Net cash from operating activities was $146.2 million for Q3 2024 and $383.4 million year-to-date, with EBITDA of $719.6 million for Q3 and $1,063.5 million year-to-date [5]. - The company has available liquidity of $959.3 million, including cash and cash equivalents of $553.4 million and a revolving credit facility balance of $404.9 million as of September 30, 2024 [5]. - Year-to-date (YTD) 2024 net cash flow from operating activities reached $383.4 million, up $309.3 million from the prior year, primarily due to higher cash earnings of $393.2 million [76]. - The company reported available liquidity of $959.3 million as of September 30, 2024, compared to $754.1 million at December 31, 2023 [145]. Production Guidance and Future Outlook - Production guidance for 2024 is reaffirmed, with Essakane and Westwood expected to produce 495,000 to 540,000 ounces, and Côté Gold expected to produce 130,000 to 175,000 ounces on a 60.3% basis [4]. - The company plans to invest $50 million in exploration activities in 2025 to enhance its resource base and support future growth [150]. - The company is targeting gold production of 500,000 ounces for the full year 2025, representing a 25% increase from the projected 400,000 ounces in 2024 [150]. - Forward-looking statements indicate expectations for operational improvements and production increases at the Côté Gold Mine [146]. Environmental and Social Governance (ESG) - The company aims to achieve 15% representation of women in total employees by 2024 as part of its ESG targets [29]. - The company has set a target of 20% female representation in its overall workforce by 2030 [35]. - IAMGOLD is focused on sustainability, aiming for a 30% absolute reduction in Scope 1 and 2 emissions by 2030 [146]. Operational Challenges and Risks - The political and security environment in Burkina Faso remains volatile, impacting supply chains and operations, with no business interruption reported in the first nine months of 2024 [104]. - The company faces risks related to global supply chain constraints and inflation, which may impact future performance [147]. - The ramp-up of the Côté Gold project is subject to various uncontrollable factors, which could materially affect production timing and financial results [107].

IAMGOLD Reports Third Quarter 2024 ResultsNovember 07, 2024 5:00 PM EST | Source: IAMGOLD CorporationAll monetary amounts are expressed in U.S. dollars, unless otherwise indicated.Toronto, Ontario--(Newsfile Corp. - November 7, 2024) - IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) ("IAMGOLD" or the "Company") today reported its financial and operating results for the third quarter ended September 30, 2024. "We are proud of what IAMGOLD has achieved this year, with another strong quarter of safe, ...