IAMGOLD Form 40-F Filed on EDGAR; AIF Filed on SEDARMarch 21, 2025 5:10 PM EDT | Source: IAMGOLD CorporationToronto, Ontario--(Newsfile Corp. - March 21, 2025) - IAMGOLD Corporation (TSX: IMG) (NYSE: IAG) ("IAMGOLD" or the "Company") announces that it has filed with the U.S. Securities and Exchange Commission its Form 40-F report consisting of its 2024 annual audited financial statements, management discussion and analysis and the annual information form ("AIF"). These filings are available th ...

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Core Viewpoint - Iamgold Corp. (IAG) reported mixed financial results for the fourth quarter of 2024, with adjusted earnings per share (EPS) of 10 cents, missing the Zacks Consensus Estimate of 13 cents, while revenues increased significantly year over year. Financial Performance - IAG's revenues for Q4 2024 reached $470 million, marking a 57.9% increase year over year, driven by higher sales volume and prices [2] - The company reported attributable gold production of 177,000 ounces for the quarter, up 30.1% year over year, with sales matching production figures [3] - The cost of sales was $339 million, an increase of 36.8%, while gross profit surged 162.9% year over year to $130.9 million, resulting in a gross margin of 27.9%, up from 16.7% in the prior year [4] Cash Flow and Balance Sheet - Net cash from operating activities was $103 million in Q4 2024, up from $69.9 million in the prior-year quarter [5] - Cash and cash equivalents stood at $347.5 million as of December 31, 2024, down from $367 million a year earlier [5] Annual Performance - For the full year 2024, IAG posted adjusted earnings of 55 cents per share, missing the Zacks Consensus Estimate of 57 cents, while revenues increased 65.4% year over year to $1.63 billion, surpassing the estimate of $1.62 billion [6] Stock Performance - IAG's shares have increased by 111% over the past year, outperforming the industry growth of 56.8% [7]

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]