Core Viewpoint - IAMGOLD Corporation is experiencing a transformative period with improved operations and significant cash flow generation potential, particularly from its Canadian portfolio, following the successful ramp-up of Côté Gold to nameplate capacity [2][4]. Financial Performance - In Q2 2025, IAMGOLD produced 173,000 ounces of gold, with year-to-date production reaching 334,000 ounces. The company reported revenues of $580.9 million from gold sales at an average realized price of $3,182 per ounce [6][12]. - Adjusted EBITDA for Q2 2025 was $276.4 million, with net earnings attributable to equity holders at $78.7 million, translating to $0.14 per share [8][14]. - The company has revised its annual cash cost guidance to $1,375 to $1,475 per ounce sold, and all-in sustaining costs (AISC) to $1,830 to $1,930 per ounce sold due to increased royalties and operational costs [3][21]. Production and Operations - Côté Gold achieved a significant milestone by operating at 100% nameplate throughput capacity of 36,000 tonnes per day for over thirty consecutive days, producing 67,000 attributable ounces in Q2 2025 [6][39]. - The company expects higher production in the second half of 2025, with total attributable production forecasted between 735,000 to 820,000 ounces for the full year [16][50]. Cost Management - IAMGOLD's cost of sales per ounce sold was $1,561 in Q2 2025, with cash costs at $1,556 and AISC at $2,041 [8][12]. - The company anticipates that costs will decline as mining operations transition to a bulk mining plan, which is expected to reduce rehandling and improve operational efficiencies [25][54]. Capital Expenditures - Total capital expenditures for 2025 are expected to be $335 million, with $310 million categorized as sustaining capital, reflecting investments in plant improvements and operational efficiency [23][55]. - The company has increased its sustaining capital expenditures guidance to $130 million due to non-recurring plant improvements [55]. Exploration and Growth - IAMGOLD plans to continue its exploration activities, with a focus on the Gosselin zone and infill drilling at the Côté zone, aiming to increase resource confidence and convert Inferred Resources to Indicated Resources [56][58]. - The exploration budget for 2025 is approximately $38 million, with significant spending planned at Côté Gold [27]. Health and Safety - The company reported a total recordable injuries frequency rate (TRIFR) of 0.41 for Q2 2025, indicating improved safety performance compared to the previous year [31]. Environmental and Social Governance - IAMGOLD released its 2024 Sustainability Report, highlighting its commitment to environmental, social, and governance (ESG) standards [30]. - The company is actively working on initiatives to enhance its relationships with Indigenous communities and promote equity, diversity, and inclusion within its workforce [34][35].

Production and Sales - Attributable gold production was 173,000 ounces in Q2 2025, up from 166,000 ounces in Q2 2024, with year-to-date production at 334,000 ounces compared to 317,000 ounces last year[10]. - The Côté Gold Mine achieved full nameplate capacity of 36,000 tonnes per day in June 2025, producing 67,000 attributable ounces in Q2 2025[6]. - Attributable gold production was 67,000 ounces in Q2 2025, a significant increase from 20,000 ounces in Q2 2024, with total gold production of 96,000 ounces on a 100% basis[50]. - Total ore mined in Q2 2025 was 413,000 tonnes, an increase of 196,000 tonnes or 90% from the same prior year period[65]. - The company expects 2025 production at Côté Gold to be between 360,000 to 400,000 ounces on a 100% basis, with a focus on stabilizing the processing plant at 36,000 tpd[51]. - The company expects Westwood production in 2025 to be between 125,000 to 140,000 ounces, with an increase in grade anticipated in the second half of the year[64]. - Essakane produced 77,000 ounces of attributable gold in Q2 2025, a decrease of 34,000 ounces or 31% compared to Q2 2024[74]. - Essakane's production outlook for 2025 is expected to be between 400,000 to 440,000 ounces, with higher grades anticipated in the second half of the year[77]. Financial Performance - Revenues for Q2 2025 were $580.9 million from sales of 182,000 ounces at an average realized gold price of $3,182 per ounce, compared to $356.0 million from 156,000 ounces at $2,294 per ounce in Q2 2024[10]. - Revenues for Q2 2025 increased to $580.9 million, up 50.8% from $385.3 million in Q2 2024[14]. - Year-to-date revenues for 2025 reached $1,058.0 million, up $333.8 million or 46% from the previous year, primarily due to a $774 per ounce increase in realized gold price[145]. - Gross profit for Q2 2025 was $198.8 million, representing a 31.9% increase compared to $150.7 million in Q2 2024[14]. - Net earnings attributable to equity holders for Q2 2025 were $78.7 million, or $0.14 per share, compared to $118.4 million year-to-date[6]. - The average realized gold price for Q2 2025 was $3,336 per ounce, compared to $2,341 per ounce in Q2 2024[45]. - The average realized gold price in Q2 2025 was $3,284 per ounce, compared to $2,362 per ounce in Q2 2024[74]. - Year-to-date cost of sales excluding depreciation was $543.3 million, up $191.6 million or 54% compared to the prior year, attributed to the ramp-up of sales at the Côté Gold mine[147]. Costs and Expenses - Cost of sales per ounce sold increased to $1,561 in Q2 2025 from $1,076 in Q2 2024, with cash costs at $1,556 per ounce compared to $1,071 per ounce last year[10]. - The annual attributable cash cost guidance has been revised to $1,375 to $1,475 per ounce sold, and AISC guidance has been revised to $1,830 to $1,930 per ounce sold[6]. - Cash costs per ounce sold for Côté Gold increased to $1,237, with updated full year guidance of $1,100 to $1,200[27]. - Cost of sales, excluding depreciation, increased by $29.3 million or 23% to $158.1 million in Q2 2025, with cost per ounce sold rising by $774 or 71% to $1,858[74]. - Cash costs for Q2 2025 were $157.8 million, up by $29.4 million or 23%, resulting in cash costs per ounce sold of $1,855, an increase of $774 or 72%[74]. - AISC per ounce sold in Q2 2025 was $2,224, higher by $743 or 50% compared to the prior year period[74]. - The Company revised cash cost guidance to $1,275 to $1,375 per ounce sold, and AISC to $1,800 to $1,900 per ounce sold[66]. Capital Expenditures and Investments - Capital expenditures for 2025 are now expected to total $335 million, with $310 million categorized as sustaining capital[32]. - Sustaining capital expenditures guidance has been increased to $130 million attributable to IAMGOLD, primarily for plant improvements and tailings dam construction[54]. - The Company expects to pay cash taxes in the range of $165 to $175 million during 2025, revised upwards from previous guidance[34]. - The Company completed a transaction with Summit Royalty Corporation, resulting in cash proceeds of $10.0 million and share consideration valued at $7.5 million[93]. - The Company issued $450 million of 5.75% Senior Notes, maturing on October 15, 2028, with semi-annual interest payments of approximately $12.9 million[114]. - The Company entered into a $400.0 million Term Loan in May 2023, with a floating interest rate of SOFR + 8.25% and a maturity date of May 16, 2028[116]. Exploration and Development - The Gosselin zone drilling program plans to complete 45,000 metres in 2025, with 19,700 metres completed in Q2 2025, contributing to resource confidence and category conversion[55]. - The Côté zone infill drilling program has initiated with a target of 20,000 metres, aiming to convert Inferred Resources to Indicated Resources, with 6,500 metres completed in Q2 2025[57]. - Exploration expenditures for 2025 are projected to be approximately $38 million, primarily focused on Côté Gold and Essakane[33]. - The diamond drilling program for 2025 has been increased from 13,000 metres to 16,000 metres, with 4,300 metres completed in Q2 2025[85]. - Exploration drilling activities in Q2 2025 totaled approximately 56,300 metres, with a total of 99,800 metres year-to-date[91]. Regulatory and Operational Challenges - The Burkina Faso Government's new Mining Code increased the government's free-carried interest from 10% to 15%, impacting the Company's financial outlook[176]. - The Company faces risks related to political instability in Burkina Faso, which has seen military coups and increased militant attacks, affecting supply chains and operational costs[173][174]. - VAT refunds from the Burkina Faso Government remain unpaid, potentially constraining the Company's cash flow and dividend payments[175]. - Security-related costs continue to burden operating expenses, with no assurance of reduction in the near future[175]. - The Company is actively assessing its exposure to tariffs and trade restrictions, which could further complicate its supply chain and financial health[172].

Core Insights - Value investing focuses on identifying stocks trading below their intrinsic value, allowing investors to benefit as market prices align with true company value over time [1] - Earnings yield, calculated as earnings per share divided by stock price, is a useful metric for identifying undervalued stocks, with a higher yield indicating potential undervaluation [2][4] - A screening criterion of an earnings yield greater than 10% is established, alongside other parameters like estimated EPS growth and average daily volume [6][7] Company Highlights - IAMGOLD Corporation (IAG) is a gold exploration and mining company with projected earnings growth of 44% and 40% for 2025 and 2026, respectively, and currently holds a Zacks Rank 1 [9] - Plains GP Holdings (PAGP) is involved in crude oil and refined products transportation, with earnings growth estimates of 206% and 24% for 2025 and 2026, respectively, also holding a Zacks Rank 1 [10][11] - Hope Bancorp (HOPE) provides commercial banking services, with earnings growth estimates of 12% and 40% for 2025 and 2026, and holds a Zacks Rank 1 [12] - CommScope Holding Company, Inc. (COMM) offers communication network infrastructure solutions, with an extraordinary earnings growth estimate of 3,167% for 2025 and 28% for 2026, holding a Zacks Rank 2 [13] - Harmony Biosciences Holdings Inc. (HRMY) focuses on therapies for rare neurological disorders, with earnings growth estimates of 22% and 32% for 2025 and 2026, and holds a Zacks Rank 2 [14]

Group 1 - The article discusses the analysis of the passenger airline market over the last three months, focusing on trends and statistics provided by IATA to identify potential investment opportunities in airline stocks [1] - The analysis emphasizes the importance of financial modeling and competitive financial analysis in determining target prices and ratings for airline stocks, considering factors such as risk and market fluctuations [1] - The author regularly reviews airline performance based on IATA reports, tracking efficiency through passenger and cargo trends alongside financial reports [1] Group 2 - The author holds a beneficial long position in the shares of ICAGY, indicating a positive outlook on this particular airline stock [2] - The article expresses the author's personal opinions and insights without any external compensation, ensuring an independent analysis of the airline market [2]

Core Insights - The article compares two gold stocks, Iamgold (IAG) and Royal Gold (RGLD), to determine which offers better value for investors [1] Group 1: Zacks Rank and Value Metrics - Both IAG and RGLD currently hold a Zacks Rank of 1 (Strong Buy), indicating positive earnings estimate revisions and improving earnings outlooks [3] - Value investors typically utilize traditional metrics such as P/E ratio, P/S ratio, earnings yield, and cash flow per share to identify undervalued stocks [4] Group 2: Valuation Comparisons - IAG has a forward P/E ratio of 8.90, while RGLD has a forward P/E of 20.57, suggesting IAG may be undervalued [5] - IAG's PEG ratio is 0.34, indicating a favorable growth outlook compared to RGLD's PEG ratio of 1.09 [5] - IAG's P/B ratio is 1.17, contrasting with RGLD's P/B of 3.17, further supporting IAG's superior value proposition [6] - Based on these valuation metrics, IAG is rated with a Value grade of A, while RGLD has a Value grade of D, highlighting IAG as the better value option [6]

Group 1: Investment Strategies - The Zacks Rank system emphasizes earnings estimates and revisions to identify winning stocks [1] - Value investing is a popular strategy that utilizes fundamental analysis to find undervalued stocks [2] - Zacks has developed the Style Scores system to highlight stocks with specific traits, particularly in the Value category [3] Group 2: Dundee Precious Metals (DPMLF) - Dundee Precious Metals (DPMLF) holds a Zacks Rank of 2 (Buy) and a Value grade of A [4] - DPMLF has a P/E ratio of 8.18, significantly lower than the industry average of 12.45 [4] - Over the past year, DPMLF's Forward P/E has ranged from 5.80 to 9.60, with a median of 8.12 [4] - DPMLF's P/CF ratio is 8.82, compared to the industry's average of 10.30, indicating potential undervaluation [5] Group 3: Iamgold (IAG) - Iamgold (IAG) has a Zacks Rank of 1 (Strong Buy) and a Value grade of A [6] - IAG's Forward P/E ratio is 7.87, and its PEG ratio is 0.31, both favorable compared to the industry averages [6] - Over the past year, IAG's Forward P/E has fluctuated between 6.48 and 11.58, with a median of 8.51 [7] - IAG's P/B ratio is 1.19, lower than the industry's price-to-book ratio of 1.78 [7] Group 4: Overall Valuation Insights - Both DPMLF and IAG are considered impressive value stocks due to their strong earnings outlook and favorable valuation metrics [8]

Company Performance - Iamgold (IAG) closed at $7.15, reflecting a +1.85% change from the previous day, outperforming the S&P 500's gain of 0.32% [1] - Over the past month, IAG shares have depreciated by 6.9%, underperforming the Basic Materials sector's gain of 0.43% and the S&P 500's gain of 4.51% [1] Upcoming Earnings - Iamgold's earnings report is scheduled for August 7, 2025, with projected EPS of $0.17, indicating a 6.25% increase compared to the same quarter last year [2] - For the full year, analysts expect earnings of $0.78 per share and revenue of $2.42 billion, representing changes of +41.82% and +48.44% from the previous year [3] Analyst Estimates and Valuation - Recent changes to analyst estimates for Iamgold are significant, as they often indicate shifts in near-term business trends, with positive revisions seen as favorable for the business outlook [3][4] - Iamgold currently has a Zacks Rank of 3 (Hold), with the Zacks Consensus EPS estimate having increased by 3.33% over the past month [5] - The company is trading at a Forward P/E ratio of 9.06, which is below the industry average of 12.55, and has a PEG ratio of 0.34 compared to the industry average of 0.55 [6] Industry Context - The Mining - Gold industry is part of the Basic Materials sector and holds a Zacks Industry Rank of 15, placing it in the top 7% of over 250 industries [7] - 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 Corporation is set to release its second quarter 2025 operating and financial results on August 7, 2025, followed by a conference call on August 8, 2025, to discuss these results [1][2] Company Overview - IAMGOLD is an intermediate gold producer and developer based in Canada, with operating mines in North America and West Africa, including Côté Gold, Westwood, and Essakane [3] - The Côté Gold Mine achieved full nameplate capacity in June 2025 and is positioned to be one of the largest gold mines in Canada, operated in partnership with Sumitomo Metal Mining Co. Ltd [3] - The company has a portfolio of early-stage and advanced exploration projects in high-potential mining districts and employs approximately 3,700 people [3] - IAMGOLD is committed to high standards of Environmental, Social, and Governance practices [3]

Company Performance - Iamgold (IAG) closed at $7.08, reflecting a -4.07% change from the previous day, which is less than the S&P 500's daily gain of 0.52% [1] - The stock has increased by 8.85% over the past month, outperforming the Basic Materials sector's gain of 4.06% and the S&P 500's gain of 5.95% [1] Earnings Estimates - Iamgold is expected to report an EPS of $0.18, indicating a 12.5% growth compared to the same quarter last year [2] - For the full year, earnings are projected at $0.78 per share and revenue at $2.42 billion, representing increases of +41.82% and +48.35% from the previous year [2] Analyst Estimates - Recent modifications to analyst estimates for Iamgold reflect shifting short-term business dynamics, with positive revisions indicating analyst optimism about the company's profitability [3] Zacks Rank and Performance - The Zacks Rank system, which ranges from 1 (Strong Buy) to 5 (Strong Sell), has a strong track record, with 1 stocks averaging an annual return of +25% since 1988 [5] - Iamgold currently holds a Zacks Rank of 3 (Hold), with the consensus EPS estimate moving 3.1% higher over the last 30 days [5] Valuation Metrics - Iamgold is trading at a Forward P/E ratio of 9.52, which is a discount compared to the industry average Forward P/E of 12.57 [6] - The company has a PEG ratio of 0.38, while the average PEG ratio for Mining - Gold stocks is 0.56 [6] Industry Overview - The Mining - Gold industry is part of the Basic Materials sector and currently holds a Zacks Industry Rank of 46, placing it in the top 19% of over 250 industries [7] - Strong individual industry groups, as measured by the Zacks Industry Rank, tend to outperform weaker groups by a factor of 2 to 1 [7]

Core Viewpoint - IAMGOLD Corporation has successfully completed the final delivery of gold ounces under its gold prepay arrangements, concluding a total of 150,000 ounces as part of a financing package for the Côté Gold construction [1][2]. Company Overview - IAMGOLD is an intermediate gold producer based in Canada, operating mines in North America and West Africa, including Côté Gold, Westwood, and Essakane [3]. - The company commenced production at Côté Gold on March 31, 2024, in partnership with Sumitomo Metal Mining Co. Ltd., which is expected to be one of the largest gold mines in Canada [3]. - IAMGOLD employs approximately 3,700 people and is committed to high standards of Environmental, Social, and Governance practices [3]. Financial Impact - The conclusion of the gold prepay arrangements is seen as a significant cash flow inflection point for IAMGOLD, with an estimated cash flow of approximately $200 to $225 million that the company would have received in the first half of 2025 if the arrangements were not in place [2]. - The company delivered the remaining 75,000 ounces of gold under the arrangements, with only a portion exposed to gold price fluctuations [2]. Strategic Timing - The conclusion of the arrangements coincides with the Côté Gold Mine reaching nameplate throughput, and expectations of improved operating results across all assets in the second half of the year [2]. - The current favorable gold price environment positions the company to generate stronger free cash flows and initiate a disciplined deleveraging strategy [2].