Financial Data and Key Metrics Changes - IAMGOLD Corporation achieved total attributable gold production of 667,000 ounces in 2024, a 43% increase from the prior year, aligning with raised guidance estimates [6][12] - Total adjusted EBITDA for the year was approximately $781 million, doubling the 2023 value, while net earnings were $819.6 million, including a reversal of prior impairment on Westwood [7][21] - Revenues from operations totaled $1.6 billion for the year from sales of 699,000 ounces at a record average gold price of $2,330 per ounce [20] Business Line Data and Key Metrics Changes - Côté Gold produced 199,000 ounces on a 100% basis in its first year of operation, with 96,000 ounces produced in Q4, a 41% increase from the prior quarter [26][36] - Westwood produced 134,000 ounces in 2024, exceeding its revised production target, with Q4 production of 35,000 ounces, a 25% increase compared to the same period last year [43][45] - Essakane achieved total annual production of 409,000 ounces, at the top end of its guidance range, with Q4 production of 80,000 ounces [48][50] Market Data and Key Metrics Changes - The company ended the year with total liquidity of approximately $767 million, bolstered by a strong operating performance and robust gold market [8][15] - Cash costs per ounce sold, excluding Côté, were $1,176 for the year, while all-in sustaining costs averaged $1,725 per ounce [13][50] Company Strategy and Development Direction - IAMGOLD aims to ramp up Côté Gold to a steady state operating at a nameplate throughput level of 36,000 tons per day by Q4 2025, while maximizing measured and indicated resources [10][39] - The company is focused on deleveraging its balance sheet and refining its capital structure to become a leading modern Canadian gold producer [11][23] - The exploration program at Nelligan is set to increase, targeting resource conversion in support of a technical report in 2026 [42][56] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving production targets despite challenges, with expectations for increased cash flows and improved balance sheet strength in 2025 [21][23] - The company noted that the current gold price environment is favorable for generating record cash flow from its operations [11][37] Other Important Information - IAMGOLD completed the repurchase of a 9.7% interest in Côté Gold, returning to a full 70% interest [17] - The company announced an updated mineral resource estimate for Nelligan, showing a 56% increase in indicated resources [54] Q&A Session Summary Question: Challenges in January with HPGR and other crushers - Management confirmed that guidance issued accounted for known repairs and that Q1 production would be lower but confident in overall guidance [59][61] Question: Expected production rates and downtime throughout the year - Management indicated Q1 would be the weakest, with improvements expected in Q2 and Q3, and Q4 anticipated to be the strongest [70][78] Question: Variability in Essakane and Westwood production profiles - Management acknowledged potential for lower Q1 production at Essakane but expected a pickup for the rest of the year [84][88] Question: Strategic considerations regarding Essakane's future within the company - Management emphasized confidence in Essakane's cash flow potential and its role in strengthening the balance sheet in 2025 and 2026 [92][95]

IAMGOLD Corporation (NYSE:IAG) Q4 2024 Earnings Conference Call February 21, 2025 8:30 AM ET Company Participants Graeme Jennings - Vice President, Investor Relations and Corporate Communications Renaud Adams - President and Chief Executive Officer Maarten Theunissen - Chief Financial Officer Bruno Lemelin - Chief Operating Officer Conference Call Participants Anita Soni - CIBC World Markets Tanya Jakusconek - Scotiabank Operator Thank you for standing by. This is the conference operator. Welcome to the IAM ...

Core Viewpoint - IAMGOLD Corporation reported significant growth in gold production and financial performance for the year ended December 31, 2024, driven by the successful ramp-up of the Côté Gold mine and strong operations at Essakane and Westwood [3][4][6]. Financial Performance - Total attributable gold production for 2024 was 667,000 ounces, a 43% increase from the previous year, aligning with the raised guidance estimates [3][4]. - Revenues reached a record $1,633 million from sales of 699,000 ounces at an average realized gold price of $2,330 per ounce [4][17]. - Net earnings attributable to equity holders were $819.6 million for the year, with adjusted net earnings per share of $0.55 [17][18]. - Cash flow from operating activities was $486 million for the year, with mine-site free cash flow of $385.1 million [17][18]. Production Highlights - Côté Gold produced 124,000 attributable ounces in its first nine months of operation, achieving commercial production on August 1, 2024 [3][48]. - Essakane produced 409,000 attributable ounces for the year, achieving the top end of its production guidance [4][6]. - Westwood exceeded its production guidance with 134,000 ounces for the full year [4][6]. Cost Metrics - Cost of sales per ounce sold, excluding Côté, was $1,181 for the year, while including Côté, it was $1,156 [4][17]. - All-in sustaining costs (AISC) per ounce sold, excluding Côté, was $1,725 for the year, trending toward the low end of guidance [4][17]. - Cash costs per ounce sold, excluding Côté, were $1,176 for the year [4][17]. Outlook for 2025 - Attributable gold production is expected to be between 735,000 to 820,000 ounces, driven by the ramp-up of Côté Gold and continued strong production from Essakane and Westwood [6][20]. - Cash cost guidance for 2025 is set at $1,200 to $1,350 per ounce sold, with AISC guidance of $1,625 to $1,800 per ounce sold [22][23]. - Capital expenditures for 2025 are expected to total $310 million, with $290 million categorized as sustaining capital [27][28]. Mineral Reserves and Resources - Proven and Probable Mineral Reserves total 10.7 million ounces of gold, with a 3% decrease from the previous year [9][11]. - Measured and Indicated Mineral Resources increased by 3% to 26.7 million ounces [9][11]. - The Nelligan Project saw a 56% increase in Indicated ounces, reflecting ongoing exploration success [9][11]. Health and Safety - The total recordable injuries frequency rate (TRIFR) improved to 0.63, marking the third consecutive year of improvement [34][36]. Environmental and Social Governance - The company is committed to high standards of Environmental, Social, and Governance practices, focusing on water stewardship and biodiversity [33][37]. - Community investment strategies are being developed to enhance engagement with local communities [41][45].

CONSOLIDATED FINANCIAL STATEMENTS As at December 31, 2024 INDEX | Management's responsibility for financial reporting | 53 | | --- | --- | | Management's report on internal control over financial reporting | 54 | | Report of independent registered public accounting firm | | | | 55 to 56 | | Report of independent registered public accounting firm | 57 | | Consolidated financial statements | | | Consolidated balance sheets | 58 | | Consolidated statements of earnings (loss) | 59 | | Consolidated statements of ...

Company Performance - Iamgold (IAG) stock closed at $6.54, reflecting a -1.06% change compared to the previous day, underperforming the S&P 500's 1.04% gain [1] - Over the past month, Iamgold's stock has increased by 23.78%, outperforming the Basic Materials sector's gain of 7.68% and the S&P 500's gain of 3.92% [1] Earnings Forecast - Iamgold is expected to release its earnings on February 20, 2025, with a predicted EPS of $0.14, indicating a 133.33% growth compared to the same quarter last year [2] Analyst Projections - Recent shifts in analyst projections for Iamgold should be monitored, as positive estimate revisions can indicate optimism about the company's business outlook [3] - The Zacks Rank system, which assesses estimate changes, can provide actionable insights for investors [4] Zacks Rank and Valuation - Iamgold currently holds a Zacks Rank of 3 (Hold), with the Zacks Consensus EPS estimate having moved 18.11% lower over the last 30 days [5] - The company is trading at a Forward P/E ratio of 9.96, which is below the industry's average Forward P/E of 11.92 [6] Industry Context - The Mining - Gold industry, part of the Basic Materials sector, has a Zacks Industry Rank of 83, placing it in the top 34% of over 250 industries [6] - The Zacks Industry Rank indicates that the top 50% rated industries outperform the bottom half by a factor of 2 to 1 [7]

Core Viewpoint - Iamgold (IAG) has shown significant stock performance, with a notable increase of 14.69% over the past month, outperforming both the Basic Materials sector and the S&P 500 [1][2] Company Performance - Iamgold's stock closed at $6.46, reflecting a slight decrease of -0.31% from the previous day, while the S&P 500 gained 0.36% [1] - The company is expected to report an EPS of $0.15 on February 20, 2025, indicating a 150% increase compared to the same quarter last year [2] Analyst Estimates - Recent changes in analyst estimates for Iamgold are crucial, as upward revisions indicate positive sentiment regarding the company's business operations and profit generation capabilities [3] - The Zacks Consensus EPS estimate has decreased by 11.94% in the past month, suggesting some caution among analysts [5] Valuation Metrics - Iamgold is currently trading at a Forward P/E ratio of 9.41, which is lower than the industry average of 11.41, indicating that the stock may be undervalued [6] - The Mining - Gold industry, which includes Iamgold, holds a Zacks Industry Rank of 79, placing it in the top 32% of over 250 industries [6][7]

Core Insights - Radisson Mining Resources announced positive results from a metallurgical study at its O'Brien Gold Project, indicating gold recoveries between 86% and 96% based on various processing options [1][2][18] - The study was conducted in collaboration with IAMGOLD Corporation to assess the feasibility of processing O'Brien's mined material at IAMGOLD's Doyon mill [1][4][8] Metallurgical Study Results - Gold recovery rates achieved were 86% using a Gravity-Leach flow sheet, 90% with a Gravity-Flotation-Regrind-Leach flow sheet, and between 94% and 96% when considering the sale of a flotation concentrate [2][3][19] - The metallurgical program utilized 35 samples of mineralized core with gold grades ranging from 0.8 g/t to 49.1 g/t [5][6] Processing Options - The Doyon mill, located 21 kilometers from O'Brien, currently processes approximately 3,000 tonnes per day and has the capacity for modifications to accommodate the processing of O'Brien material [7][18] - The milling assessment indicates that minimal to modest capital investments are required for mill modifications to facilitate the proposed processing options [18][21] Future Plans - Radisson plans to complete a Preliminary Economic Assessment for the O'Brien project, utilizing the current 2023 Mineral Resource Estimate for mine planning [4][18] - The company has engaged Ausenco for processing design and financial modeling, InnovExplo for mine design, and BBA Inc. for environmental assessment and permitting requirements [4][18]

Company Performance - Iamgold (IAG) closed at $6.24, reflecting a -0.79% change from the previous session, underperforming compared to the S&P 500's loss of 0.51% [1] - The stock has increased by 12.72% over the past month, outperforming the Basic Materials sector's gain of 4.34% and the S&P 500's gain of 2.87% [1] Upcoming Earnings - Iamgold's earnings report is scheduled for February 20, 2025, with projected earnings per share (EPS) of $0.17, indicating a 183.33% increase from the same quarter last year [2] Analyst Estimates - Recent modifications to analyst estimates for Iamgold are crucial as they reflect changing business trends, with upward revisions indicating analysts' positive outlook on the company's profitability [3] - The Zacks Consensus EPS estimate has decreased by 11.73% over the last 30 days, and Iamgold currently holds a Zacks Rank of 3 (Hold) [5] Valuation Metrics - Iamgold is trading at a Forward P/E ratio of 9.12, which is lower than the industry average Forward P/E of 10.76, suggesting that Iamgold is trading at a discount compared to its peers [6] - The Mining - Gold industry, part of the Basic Materials sector, has a Zacks Industry Rank of 89, placing it in the top 36% of over 250 industries [6][7]

The price of gold has been on a bullish run so far in 2025. This should have a positive effect on the gold miners, as it enables them to earn more revenue from what they produce. I wrote about the miningDavid focuses on growth & momentum stocks that are reasonably priced and likely to outperform the market over the long-term. He is a long term investor of quality stocks and uses options for strategy. David told investors to buy in March 2009 at the bottom of the financial crisis. The S&P 500 increased 367% ...

Core Insights - IAMGOLD reported attributable gold production of 667,000 ounces in 2024, a 43% increase year over year, driven by the Côté Gold mine and improved performances at Essakane and Westwood [1] - The company sold 654,000 ounces of gold at an average realized price of $2,326 per ounce, leading to projected record revenues of approximately $1.52 billion for 2024, compared to $987 million in 2023 [2] - IAMGOLD's fourth-quarter production was 177,000 ounces, up from 136,000 ounces in Q4 2023, with sales also reaching 177,000 ounces at an average price of $2,509 per ounce, resulting in revenues of $444 million [3][4] Production Details - Côté Gold produced 62,000 attributable ounces in Q4 2024, with a total of 124,000 ounces for the year, and the company increased its stake in the mine to 70% [5][6] - Westwood's production surged to 35,000 ounces in Q4 2024, up from 28,000 ounces in Q4 2023, with total production for the year reaching 134,000 ounces, a 44% increase year over year [7] - Essakane's production was 80,000 ounces in Q4 2024, down from 108,000 ounces in the same quarter last year, but annual production was 409,000 ounces, near the top end of guidance [8][9] Future Outlook - IAMGOLD expects attributable gold production to range between 735,000-820,000 ounces in 2025, driven by the ramp-up of Côté Gold and continued strong production from Essakane and Westwood [10] - Côté Gold's production in 2025 is anticipated to be between 250,000-280,000 ounces, while Westwood and Essakane are expected to produce 125,000-140,000 ounces and 360,000-400,000 ounces, respectively [11] - Cash cost guidance is set at $1,200-$1,350 per ounce sold, with all-in sustaining costs expected to be $1,625-$1,800 per ounce sold, with lower costs anticipated in the second half of the year [12] Stock Performance - IAMGOLD shares surged 120.6% over the past year, significantly outperforming the industry average growth of 30.5% [13]