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IAMGOLD Hits a Fresh 52-Week High: What's Powering the Rally?
ZACKS· 2026-01-13 13:00
Core Insights - IAMGOLD Corporation (IAG) shares reached a 52-week high of $18.07, closing at $17.8, reflecting a 220.1% increase over the past year, outperforming the Zacks Mining-Gold industry's 146.5% rise, driven by higher gold prices, record production at Cote Gold, improved cost efficiency, debt reduction, and growing investor optimism [1][4][6]. Production and Revenue Performance - Total attributable gold production increased by 9.8% year over year to 190,000 ounces, primarily due to the ramp-up at Cote Gold, which contributed 75,000 attributable ounces, up approximately 83% from 41,000 ounces in Q3 2024 [4][5]. - Revenue surged 61% year over year to $706.7 million from $438.9 million, supported by higher realized gold prices averaging $3,492 per ounce and increased sales volumes, particularly from Cote Gold [5][6]. Strategic Initiatives and Growth - IAMGOLD advanced key projects in 2025, with Cote Gold reaching sustained nameplate capacity, enhancing production and cost efficiency through incremental investments [6][7]. - The company expanded its Quebec pipeline by acquiring Northern Superior Resources and Mines d'Or Orbec, consolidating multiple deposits into the Nelligan Mining Complex, while ongoing drilling at Nelligan and Monster Lake continues to enhance resource potential [6][7]. - Debt repayment has strengthened IAMGOLD's balance sheet and financial flexibility as the company transitions into a higher-production phase [7].