IAMGOLD(IAG) ZACKS·2025-01-17 15:31Core 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]