IAMGOLD (IAG) has reached a significant support level, making it an attractive option for investors from a technical perspective. Yesterday, the IAG stock exceeded its 50-day simple moving average (SMA), signaling a short-term bullish trend. The company's shares gained 3% yesterday to close at $5.32. This was driven by IAMGOLD's third-quarter 2024 results, which were also announced yesterday. Adjusted earnings per share (EPS) of 18 cents beat the Zacks Consensus Estimate and significantly improved from the ...

Financial Data and Key Metrics Changes - IAMGOLD reported gold production year-to-date totaling 490,000 ounces, with Q3 production of 173,000 ounces, significantly up from 109,000 ounces in the same period last year [6][10] - The company achieved revenues of $438.9 million from sales of 184,000 ounces at a record average realized price of $2,391 per ounce [20] - Net earnings for the quarter were $598.1 million, including a reversal of a previous impairment on Westwood of $462.3 million [21] - Adjusted EBITDA reached a record $221.7 million for the quarter, bringing year-to-date EBITDA to $565.2 million [22] Business Line Data and Key Metrics Changes - Essakane produced 100,000 ounces in Q3, contributing to a year-to-date total of 329,000 ounces, while Westwood produced 32,000 ounces in the quarter [46][50] - Cote Gold achieved its first quarter of positive free cash flow with 68,000 ounces produced, marking a significant milestone in its ramp-up [26][23] - Cash costs for Essakane were reported at $1,223 per ounce, while Westwood's cash costs averaged $1,150 per ounce [48][52] Market Data and Key Metrics Changes - The average realized gold price for the quarter was $2,391 per ounce, reflecting strong market conditions [20] - IAMGOLD's liquidity position was strong, ending the quarter with cash and cash equivalents of $553.4 million and total liquidity of approximately $959.3 million [14] Company Strategy and Development Direction - IAMGOLD aims to become a leading modern Canadian gold producer with a strong balance sheet and significant cash flow generation [8] - The company plans to focus on optimizing operations at Cote Gold and extending the mine life at Essakane [54][42] - Future capital allocation will prioritize debt reduction and organic growth opportunities, with potential for shareholder returns considered in 2026 [62][78] Management's Comments on Operating Environment and Future Outlook - Management noted that inflationary pressures have eased, but key inputs like labor remain elevated [13] - The company expects to maintain production guidance and achieve cash flow generation from its operations, particularly from Essakane and Westwood [12][54] - Management expressed confidence in the ramp-up of Cote Gold and its potential to contribute significantly to cash flow in the coming years [41][42] Other Important Information - IAMGOLD is in the process of repurchasing a 9.7% interest in Cote Gold for approximately $377 million, expected to close on November 30, 2024 [16] - The company has completed a third of its gold prepaid obligations, with further deliveries scheduled [17][18] Q&A Session Summary Question: Cash flow and working capital outlook - Management indicated that working capital issues were primarily due to Cote's construction costs, which are expected to stabilize in Q4 and 2025 [56][57] Question: Net debt reduction targets - Management plans to use excess cash to address debt as it comes due, with a focus on reducing high-yield notes and leases [58][60] Question: Capital allocation priorities - The priority is to achieve positive cash flow before considering dividends or share buybacks, with a focus on organic growth opportunities [62][64] Question: Westwood mill shutdown duration - A mill shutdown is targeted for five to seven days in November [70][71] Question: Essakane's Q4 and 2025 outlook - Management expects a higher strip ratio in Q4, with a return to more regular ratios in 2025 [71][72] Question: Grade reconciliation at Essakane - Management noted that Phase 5 has contributed positively to grade reconciliation, with expectations for continued improvement [73] Question: Labor cost inflation - Labor costs are expected to increase by 3% to 3.5%, with a potential slight decrease in the overall labor percentage of total costs as Cote becomes a larger part of the organization [86][88]

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 ...

Q3 2024 RESULTS CONFERENCE CALL TSX: IMG l NYSE: IAG l www.iamgold.com CORPORATION THIRD QUARTER 2024 CONFERENCE CALL November 2024 Q3 2024 RESULTS CONFERENCE CALL Cautionary Statement CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION All information included or incorporated by reference in this presentation, including any information as to the Company's vision, strategy, future financial or operating performance and other statements that express management's expectations or estimates of future per ...

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL POSITION AND RESULTS OF OPERATIONS Third Quarter Ended September 30, 2024 INDEX | --- | --- | |----------------------------------------------------------------------------------------------------|-------| | | | | Introduction | 2 | | About IAMGOLD | 2 | | Highlights | 2 | | Operating and Financial Results | 4 | | Outlook | 7 | | Environmental, Social and Governance | 9 | | Operations | | | Operating and Financial Performance | | | Côté Gold | 12 | | Essakane ...

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, ...

IAMGOLD Corporation (IAG) is expected to deliver a year-over-year improvement in its bottom line when it reports third-quarter 2024 results on Nov. 7, after market close.Stay up-to-date with all quarterly releases: See Zacks Earnings Calendar.The Zacks Consensus Estimate for IAG’s earnings has moved up 10% over the past 60 days to 11 cents per share. The consensus mark indicates a significant improvement from the loss of 1 cent per share incurred in the third quarter of 2023.  Image Source: Zacks Investment ...

Iamgold (IAG) closed the last trading session at $5.29, gaining 16.5% over the past four weeks, but there could be plenty of upside left in the stock if short-term price targets set by Wall Street analysts are any guide. The mean price target of $6.66 indicates a 25.9% upside potential.The mean estimate comprises 10 short-term price targets with a standard deviation of $1.24. While the lowest estimate of $4.63 indicates a 12.5% decline from the current price level, the most optimistic analyst expects the st ...

Iamgold (IAG) closed the latest trading day at $5.69, indicating a -1.39% change from the previous session's end. This change lagged the S&P 500's daily loss of 0.33%. Meanwhile, the Dow experienced a drop of 0.22%, and the technology-dominated Nasdaq saw a decrease of 0.56%.Shares of the gold and niobium mining company have appreciated by 8.05% over the course of the past month, outperforming the Basic Materials sector's loss of 4.77% and the S&P 500's gain of 1.83%.Analysts and investors alike will be kee ...

IAMGOLD Announces Assay Results from 2024 Nelligan Drilling ProgramOctober 23, 2024 7:00 AM EDT | Source: IAMGOLD CorporationAll monetary amounts are expressed in U.S. dollars, unless otherwise indicated.Toronto, Ontario--(Newsfile Corp. - October 23, 2024) - IAMGOLD Corporation (NYSE: IAG) (TSX: IMG) ("IAMGOLD" or the "Company") is pleased to announce assay results from the 2024 drilling program completed at its Nelligan Project (100% owned by IAMGOLD) confirming the extension of the minerali ...