Investment Rating - Industry rating: Recommended [6] Core Insights - The report highlights a significant increase in attributable gold production for Q4 2025, reaching 242,400 ounces (7.54 tons), which represents a 27.6% increase quarter-over-quarter and a 37.2% increase year-over-year [2] - The total attributable gold production for 2025 was 765,900 ounces (23.82 tons), marking a 14.9% year-over-year increase, achieving the median of the company's production guidance for the year [2] - The company anticipates a record revenue for 2026, with preliminary annual gold sales projected at 817,800 ounces, and an average realized gold price of approximately $3,480 per ounce [3] Production and Cost Outlook - For 2026, gold production is expected to be between 720,000 to 820,000 ounces, with cash costs projected to average between $1,425 to $1,575 per ounce, including royalties [4][11] - Sustaining capital expenditures are estimated at approximately $380 million, with expansion capital expenditures expected to reach $120 million [11] - The Côté Gold project is a focal point for sustainable production, with plans for expansion to be announced in Q4 2026 [4]
海外季报：IAMGOLD2025Q4权益黄金产量环比增加27.6%至7.54吨，2026年产量指引为72万至82万盎司
HUAXI Securities·2026-02-09 09:49